Leerink initiated coverage of Tectonic Therapeutic with an Outperform rating and $49 price target. Tectonic is a clinical-stage biopharma company focused on discovering and developing therapeutic proteins and antibodies that modulate the activity of G-Protein coupled peceptors for diseases with significant unmet need, the analyst tells investors in a research note. The firm says the major stock value drivers over the next two years are TX45 developments, TX45 competitive news flow, and GPCR3 antagonist candidate progress.
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