Tenaya Therapeutics price target lowered to $24 from $28 at Chardan

Chardan analyst Geulah Livshits lowered the firm’s price target on Tenaya Therapeutics (TNYA) to $24 from $28 and keeps a Buy rating on the shares after the company s reported FY22 results and reiterated catalysts for 2023. In terms of the competitive GT landscape, BioMarin (BMRN) has indicated plans to file an IND in the second half of 2023 for its MYPBC3 GT program BMN 293, noted the analyst, who believes Tenaya’s GT approach is positioned to provide greater improvement by addressing underlying disease biology, but adds that the overall value proposition for TN-201 will depend on the incremental benefit and risk afforded by MYBPC3 normalization versus an untargeted strategy.