Oppenheimer Reiterates Outperform Rating on Tectonic Therapeutics Inc. (TECX)

Oppenheimer analyst Leland Gershell reiterated an Outperform rating and $80.00 price target on Tectonic Therapeutics Inc. (NASDAQ: TECX).

The analyst commented: "Positive results in patients with pulmonary hypertension in heart failure with reduced ejection fraction (PH-HFrEF) provide solid proof-of-concept for TX45's therapeutic potential in this setting, opening the door to a sizable second market opportunity (1.1M US patients) not in our model. Hemodynamic benefits were right on par with those reported in PH-HFpEF patients earlier this year, and improvements in cardiac functional measures out to a month after one dose again reflect the value of TX45's extended half-life. No safety or tolerability issues. Last night's update increases our conviction on TX45 as a best-in-class relaxin agonist, and we look forward to next year's APEX readout in PH-HFpEF for which this Phase 2 trial has surpassed 50% enrollment. Reiterate Outperform."

For an analyst ratings summary and ratings history on Tectonic Therapeutics Inc. click here. For more ratings news on Tectonic Therapeutics Inc. click here.

Shares of Tectonic Therapeutics Inc. closed at $18.62 yesterday.

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