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Piper Sandler starts Tango Therapeutics Shares with Overweight By Investing.com

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On Monday, Piper Sandler initiated coverage on Tango Therapeutics Inc. (NASDAQ:TNGX), issuing an Overweight rating and setting a price target of $18.00. The firm’s analysis suggests that Tango’s MTA-cooperative PRMT5 inhibitor portfolio has a strong position in the precision oncology field.

The coverage highlights the potential of Tango Therapeutics’ portfolio, particularly noting the promising preclinical profiles of TNG908 and TNG462. These compounds are viewed as having opportunities to be first-in-class, with the potential for establishing best-in-class clinical profiles in the treatment of cancer.

Piper Sandler’s optimism is partly based on the initial clinical data from competitors, which have provided clear proof-of-concept for this drug class. TNG908’s continued dose escalation past the point of observed pharmacodynamic effect is seen as a positive indicator of its therapeutic potential.

Furthermore, TNG462’s improved potency and selectivity are considered significant factors that could contribute to Tango Therapeutics’ competitive advantage in the market. The firm believes that these attributes may lead to substantial growth in the company’s stock value as the drugs progress through clinical development.

The analyst’s commentary underscores the opportunity for Tango Therapeutics to capitalize on its PRMT5 inhibitors. These drugs are expected to validate the company’s standing within a critical segment of cancer treatment, potentially leading to significant appreciation in Tango’s market share.

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