Jun. 25 at 8:21 PM
Jefferies⬆️
$TNGX to Buy;
$60 from Hold;
$27.
$RVMD $IMRX ERAS BBOT ANL VSTM
Jefferies said in its note:
We're upgrading TNGX after stress-testing early 2L/3L PDAC PFS data, which we believe is tracking to ~13mos mPFS, well above daraxonrasib's 8.1mos.
We're now modeling ~15mos duration of tx in 1L (~
$3.3B peak rev) & ~13mos in 2L (~
$1.2B peak rev).
Med conf update later in 2026 will provide ~2x larger 'n' to confirm high ORR (vs initial 92%) & refine mPFS est. ESMO GI zoldon+dara/chemo data highlight differentiation w/ PRMT5+panRAS. Upgrade to Buy, PT to
$60.
