Raymond James initiated coverage of Tectonic Therapeutic (TECX) with an Outperform rating and $65 price target The company’s “differentiated” G-protein coupled receptors discovery platform has positioned with a potential best-in-class relaxin mimetic for the treatment of group two pulmonary hypertension and possibly other cardiovascular conditions, the analyst tells investors in a research note. The firm says Tectonic’s approach has been somewhat validated by Novartis (NVS).
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