Tyra Biosciences (TYRA) PT Raised to $55 at Raymond James

Raymond James analyst Chris Raymond raised the price target on Tyra Biosciences (NASDAQ: TYRA) to $55.00 (from $35.00) while maintaining a Strong Buy rating.

The analyst comments "Remain Strong Buy rated on TYRA shares and raise our price target to $55 after layering estimates for dabogratinib in upper tract urothelial carcinoma (UTUC) into our model. Recall that although this is a smaller opportunity (around 3K U.S. patients), TYRA can accelerate the development here (a Phase 2 trial has recently been initiated), with the potential for this to be the first approved indication for dabogratinib (which we estimate in early 2028 – a couple of quarters before NMIBC). Also, upon reexamination of the competitive landscape and pricing dynamic, we think our previous pricing assumptions were too conservative. Therefore, we are raising our modeled price for dabogratinib to reflect a premium pricing strategy based on the unmet needs in UTUC and NMIBC. We now model total bladder cancer (UTUC + NMIBC) revenues of $204M, $439M, $717M, and $1,132M for FY29-32. As we get closer to initial NMIBC data in 1H26, we think another turn to the multiple is warranted, which brings our price target to $55."

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• Air T reports revenue jump but widens operating loss in Q1 fiscal 2027
• JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery