Oppenheimer initiated coverage of Tectonic Therapeutic (TECX) with an Outperform rating and $80 price target The firm likes the prospects of the company’s lead asset TX45 to address prevalent and progressive cardiovascular disorders that are inadequately treated. The analyst is optimistic ahead of next year’s Phase 2 readout in pulmonary hypertension with heart failure with preserved ejection fraction, which it believes could pave the way to multi-billion global sales opportunity.
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