Tyra Biosciences initiated with a Buy at UBS

UBS analyst Eliana Merle initiated coverage of Tyra Biosciences (TYRA) with a Buy rating and $28 price target Tyra Biosciences is a clinical-stage biotech company with a drug, TYRA-300, in development for bladder cancer and a genetic form of short stature, achondroplasia, with many health complications, the analyst tells investors in a research note. The firm thinks TYRA-300 could have improved efficacy and safety vs. Fibroblast Growth Factor Receptor inhibitors that also inhibit FGFR1, 2 and 4, and thinks the long-term opportunity for TYRA-30 in both oncology and growth disorders beyond achondroplasia is larger than appreciated.