Tyra Biosciences price target lowered to $25 from $28 at Oppenheimer

Oppenheimer lowered the firm’s price target on Tyra Biosciences to $25 from $28 and keeps an Outperform rating on the shares. Long awaited data from the SURF301 trial is coming in the second half of 2024. The firm would like to see clear evidence of efficacy alongside strong safety – “thus supporting TYRA-300’sraison d’etre: Hitting FGFR3 harder than FGFR1, FGFR2, and FGFR4 can deliver a better drug than erdafitinib and infigratinib.” The safety readout from SURF300 is arguably more important at this stage of the game because of the read through to achondroplasia, Oppenheimer adds.