Piper Sandler Assumes Tyra Biosciences (TYRA) at Overweight

Piper Sandler analyst Allison Bratzel assumes coverage on Tyra Biosciences (NASDAQ: TYRA) with a Overweight rating and a price target of $33.00.

The analyst comments "Assuming coverage on TYRA at OW considering promising data to date for lead asset TYRA-300 in metastatic urothelial carcinoma (mUC) and upcoming key expansion opportunities into achondroplasia (ACH) and non-muscle invasive bladder cancer (NMIBC). By targeting FGFR3 with high selectivity over other FGFRs, TYRA-300’s profile is emerging as safer and more efficacious than current pan-FGFR inhibitors with low therapeutic windows and significant toxicities. While data released at the Triple Meeting last year has begun to confirm this profile, we look forward to TYRA-300’s potential at increasing growth velocity in ACH beyond current competitors and to provide a safe and effective oral option for treating NMIBC, noting that dosing of first patients are planned in Q225 in both opportunities. Based on the strong rationale for FGFR3 specificity and data to date indicating a potential best-in-class profile, we are buyers."

For an analyst ratings summary and ratings history on Tyra Biosciences click here. For more ratings news on Tyra Biosciences click here.

Shares of Tyra Biosciences closed at $9.98 yesterday.

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