Tango Therapeutics Inc. (TNGX) PT Raised to $42 at Canaccord

Canaccord analyst John Newman raised the price target on Tango Therapeutics Inc. (NASDAQ: TNGX) to $42.00 (from $30.00) while maintaining a Buy rating.

The analyst commented: "We are raising our price target from $30 to $42, based on an increased probability of success for the daraxonrasib combination and greater market share in the 1L setting. We are utilizing an EV/S methodology vs our prior combination of Net Present Value + EV / S methodology -- we think EV/S better reflects investor focus on peak sales potential for vopimetostat. Additionally, we see potential longer-term upside from this combination in NSCLC."

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