Jan. 23 at 11:50 AM
Piper Sandler⬆️its Top Pick
$TYRA's PT to
$42 from
$33 and reiterated at an Overweight rating.
$BBIO $URGN JNJ IBRX ASND LLY
Piper Sandler said in its note:
We remain Overweight on TYRA shares and update our thesis on why this remains a top pick for 2026.
We believe lead asset dabogratinib (selective FGFR3 inhibitor) is potentially best in class with application across three high-value indications driven by FGFR3 alterations: achondroplasia, IR-NMIBC (intermediate-risk non-muscle invasive bladder cancer), and LG-UTUC (low-grade upper tract urothelial carcinoma).
While the stock has outperformed recently (up ~86% over the last two months), we see significant upside remaining as the company approaches key de-risking clinical catalysts in IR-NMIBC (late 1H26) and achondroplasia (2H26).
Furthermore, we believe the UTUC opportunity is underappreciated and are updating our model to reflect this potential first-to-market indication.
Buyers to our new
$42/sh target.
