TD Cowen analyst Ritu Baral has maintained their bullish stance on TNYA stock, giving a Buy rating on March 12.
Ritu Baral has given her Buy rating due to a combination of factors influencing Tenaya Therapeutics’ outlook. The company’s financial position has been strengthened by a recent equity raise and a grant, which together provide a cash runway extending into the first half of 2026. This financial stability is further supported by an undrawn credit facility with Silicon Valley Bank, offering additional financial flexibility.
Moreover, Tenaya Therapeutics is advancing its clinical trials, particularly the MyPEAK-1 study, which investigates the safety and efficacy of its gene therapy for MYBPC3-HCM patients. The initial data from the low-dose cohort showed promising results with good cardiac expression and functional improvements, alongside a favorable safety profile. The expansion of the trial’s inclusion criteria indicates confidence in the therapy’s potential, which contributes to the positive outlook and the Buy rating.
Baral covers the Healthcare sector, focusing on stocks such as Insmed, Alnylam Pharma, and Sarepta Therapeutics. According to TipRanks, Baral has an average return of 8.1% and a 44.60% success rate on recommended stocks.
In another report released on March 12, Canaccord Genuity also maintained a Buy rating on the stock with a $6.00 price target.