Analysts raise price targets after Tango shifts focus to first-line pancreatic cancer therapy, anticipating key data later this year.
Leerink increased its price target for Tango Therapeutics (NASDAQ:TNGX) to $55 from $28, maintaining an Outperform rating following first-quarter results. The firm cited a strategic pivot toward first-line pancreatic ductal adenocarcinoma treatment as a catalyst for growth, expecting significant data by year-end.
The stock has faced pressure due to competitive setbacks and board departures, but management’s optimism around daraxonrasib and vopimetostat combination therapy drove the upgrade. Wedbush also raised its target to $33 from $19, reflecting confidence in the company’s revised focus.
Analysts view the shift away from second-line monotherapy research as a positive, as first-line success could reduce the viability of later-stage treatments. The adjustments follow recent earnings and discussions with Tango’s leadership.