In a report released today, Mitchell Kapoor from H.C. Wainwright reiterated a Buy rating on Tyra Bioscience (TYRA – Research Report), with a price target of $30.00.
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Mitchell Kapoor has given his Buy rating due to a combination of factors highlighting the strong potential of TYRA-300. Kapoor remains confident in TYRA-300’s profile, considering it to be the best-in-class FGFR3 inhibitor, especially in light of emerging competition from Eli Lilly’s FGFR3-selective inhibitor, LY3866288. The data suggests that LY3866288 requires higher dosing to achieve similar efficacy to TYRA-300, leading to higher toxicity rates, which makes it less favorable.
Furthermore, the once-daily dosing regimen of TYRA-300 is more advantageous compared to the twice-daily regimen required for LY3866288. The superior efficacy and tolerability of TYRA-300 are evident in its performance during trials, where it demonstrated higher partial response rates at lower doses compared to LY3866288. These compelling data points lead Kapoor to reiterate the Buy rating for Tyra Bioscience, with a 12-month price target of $30 per share.
Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TYRA in relation to earlier this year.