Wells Fargo initiated coverage of Tectonic Therapeutic with an Overweight rating and $55 price target. The market is pricing in low expectations for TX45, the analyst tells investors in a research note. The firm says TX45 is not a vasodilator but a relaxin, which has shown signs of improved left sided heart function across multiple Phase 3 studies for Novartis’ serelaxin. It believes TX45 not only improves upon serelaxin’s short half life but targets an indication in which it could potentially lead to even greater efficacy.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TECX:
- Tectonic Therapeutic to Participate in September Investor Conferences
- Tectonic Therapeutic reports Q2 EPS ($4.34), consensus ($1.50)
- Tectonic Therapeutic Announces Second Quarter 2024 Financial Results and Recent Business Highlights
- Immatics appoints Reicin to board of directors
- Tectonic Therapeutic announces FDA clearance of TX45 IND application