H.C. Wainwright analyst Joseph Pantginis has maintained their bullish stance on TNYA stock, giving a Buy rating on November 1.
Joseph Pantginis has given his Buy rating for Tenaya Therapeutics due to a combination of factors. Firstly, Tenaya Therapeutics demonstrated impressive financials in their 3Q23 results, with posted EPS of ($0.39), significantly better than the estimated ($0.51) and consensus of ($0.47). Additionally, the company ended the quarter with a robust $128.1 million, which is expected to sustain all ongoing operations through 1H25. This solid financial standing underscores the company’s potential for growth.
Moreover, Tenaya continues to show significant progress in the development of its cardiovascular therapies. Specifically, the company recently dosed the first patient in the MyPeak-1 Phase 1b clinical trial evaluating TN-201, with initial data to be shared in 2024. Furthermore, Tenaya presented promising Phase 1 data for TN-301 last month, providing valuable insights into dosing, safety, and target engagement. Last but not least, the FDA cleared TN-401’s IND application, paving the way for clinical testing. These developments signify Tenaya’s dedication to innovation and potential to deliver impactful therapies, which further supports the Buy rating.
According to TipRanks, Pantginis is an analyst with an average return of -15.3% and a 23.80% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as PDS Biotechnology, Clene, and Actinium Pharmaceuticals.
In another report released on November 1, Canaccord Genuity also maintained a Buy rating on the stock with a $17.00 price target.
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Tenaya Therapeutics (TNYA) Company Description:
Tenaya Therapeutics Inc is a preclinical stage biotechnology company focused on discovering, developing, and delivering curative therapies that address the underlying drivers of heart disease. It is advancing product candidates from three product platforms: gene therapy, cellular regeneration, and precision medicine.
Read More on TNYA:
- Tenaya Therapeutics announces FDA clearance to begin testing of TN-401
- Tenaya Therapeutics Announces FDA Clearance to Begin Clinical Testing of TN-401 Gene Therapy for the Treatment of PKP2-Associated Arrhythmogenic Right Ventricular Cardiomyopathy
- Tenaya Therapeutics management to meet virtually with Piper Sandler
- Tenaya Therapeutics presents clinical, preclinical data on TN-301 program
- Tenaya Therapeutics Presents Encouraging New Clinical and Preclinical Data from HDAC6 Inhibitor Program TN-301 for the Potential Treatment of Heart Failure with Preserved Ejection Fraction at the 2023 HFSA Annual Scientific Meeting
