Tango Therapeutics: Guggenheim Raises PT to $10, Maintains Buy Rating

Tango Therapeutics: Guggenheim Raises PT to $10, Maintains Buy Rating

Guggenheim Securities has raised its price target for Tango Therapeutics, Inc. (TNGX) to $10 per share, maintaining a "Buy" rating. The upgrade comes amidst the company's recent second-quarter financial report, which highlighted significant financial challenges and operational progress.

According to the Form 10-Q report [1], Tango Therapeutics reported total revenue of $3.2 million for the three months ended June 30, 2025, a substantial decrease from $19.9 million for the same period in 2024. This decline is primarily attributed to lower collaboration revenue and the absence of license revenue. The company experienced a loss from operations of $(41.0) million for the three months ended June 30, 2025, compared to $(29.6) million for the same period in 2024. The increased operating loss is due to the decreased revenue.

Tango Therapeutics also reported a net loss of $(38.9) million for the three months ended June 30, 2025, compared to $(25.6) million for the same period in 2024. The increased net loss is primarily driven by lower revenue and decreased other income. The net loss per common share was $(0.35) for the three months ended June 30, 2025, compared to $(0.24) for the same period in 2024, reflecting the increased net loss.

The company's business highlights include the advancement of several product candidates, including TNG462 for non-CNS cancers and TNG456 for CNS cancers. TNG462 has shown positive early data in a Phase 1/2 clinical trial, and a clinical data update is expected in the second half of 2025. TNG456 is currently in the dose escalation phase of its clinical trial. Tango is also conducting a combination clinical trial for TNG462 with RAS(ON) inhibitors, daraxonrasib and zoldonrasib, with the first patient treated in June 2025. The company discontinued the TNG908 and TNG348 programs due to insufficient clinical activity and observed toxicity, respectively.

Guggenheim Securities believes that the company's strong pipeline and strategic partnerships will drive growth in the future. The analyst expects Tango Therapeutics to continue to make progress in its clinical trials and achieve regulatory approvals for its product candidates.

References:
[1] https://www.tradingview.com/news/tradingview:860a27ded2076:0-tango-therapeutics-inc-sec-10-q-report/