H.C. Wainwright analyst Robert Burns raised the firm’s price target on Tango Therapeutics (TNGX) to $16 from $11 and keeps a Buy rating on the shares. Mirati Therapeutics’ (MRTX) initial dose escalation results for its MTAP-cooperative PRMT5 inhibitor, MRTX1719, “derisks” Tango’s TNG908 and TNG462, the analyst tells investors in a research note. The firm says Tango is developing a more potent MTAP-cooperative PRMT5 inhibitor TNG462, which has the potential to demonstrate a higher overall response rate.
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