TD Cowen analyst Tyler Van Buren has maintained their bullish stance on TECX stock, giving a Buy rating on March 21.
Tyler Van Buren has given his Buy rating due to a combination of factors that highlight Tectonic Therapeutic’s promising clinical developments. The Phase Ib data for TX45 has shown clear proof of concept for the relaxin agonist class, suggesting that significant improvements in the 6-Minute Walk Test (6MWT) are likely in the upcoming Phase II trial, which is a critical endpoint for Phase III approval. Additionally, the ongoing patient dosing in the Phase II APEX trial, with expected topline data in 2026, further supports the potential for successful outcomes.
Moreover, the Phase Ib data for TX45 in PH HFpEF has exceeded expectations, demonstrating impressive hemodynamic effects such as significant reductions in pulmonary capillary wedge pressure (PCWP) and pulmonary vascular resistance (PVR), along with increased cardiac output. These results align with key treatment goals and suggest a strong likelihood of achieving clinically meaningful improvements in 6MWT distance. The management’s belief in a potential 20-30 meter increase in 6MWT distance in the Phase II trial, comparable to other successful therapies, reinforces confidence in advancing to Phase III trials.
In another report released on March 21, Wells Fargo also reiterated a Buy rating on the stock with a $101.00 price target.