Jefferies raises Tango Therapeutics stock price target on trial data

Tango Therapeutics (TNGX) reports Q3 earnings, with focus on its lead cancer drug, vopimetostat. Analysts expect a 35-cent loss per share, no revenue. Shares fell 18% post-data update, but 12/13 analysts rate it buy with $47.09 avg. target. Investors watch for Phase 3 trial timeline and cash burn updates.

Tango Therapeutics reported a Q3 2026 net loss of $68.4M, up from a $15.9M profit a year earlier, due to higher expenses and zero collaboration revenue. Cash reserves totaled $977.5M. The company shared promising Phase 1/2 results for vopimetostat combined with daraxonrasib in pancreatic cancer, with an 82% response rate and 88% nine-month survival rate. Tango plans to initiate a Phase 3 trial in 2027 and focus on PRMT5-targeted therapies.

Tango Therapeutics reported no revenue in 3Q 2026, down from $53.8M a year earlier, with a net loss of $68.39M. R&D and G&A expenses rose, partially offset by higher interest income. Clinical trials for vopimetostat combinations showed promising results. The company plans a global trial in 2027 and will focus on PRMT5 therapies, reducing its workforce by 14%.

Tango Therapeutics, Inc. (TNGX) filed an SEC Form 8-K — Results of Operations and Financial Condition. Tango Therapeutics Reports Third Quarter 2026 Financial Results and Provides Business Highlights Promising Phase 1/2 data from combination study of vopimetostat plus daraxonrasib presented at 2026 ESMO Congress demonstrated 82% objective response rate (ORR) and 88% 9-month progre

Wedbush raised Tango Therapeutics' (TNGX) price target to $45 from $39, citing positive trial data for vopimetostat in combination with RayzeBio's inhibitors. The stock has surged 271% over the past year, trading at $24.21 with a $4.06B market cap. Analysts see potential upside of 61% to their consensus target. Other analysts have also raised targets, with H.C. Wainwright at $68 and Stifel at $55.

Stifel raised its price target for Tango Therapeutics (TNGX) to $55 from $40, maintaining a Buy rating. The company's shares have surged 271% over the past year. Stifel increased its peak sales estimate to $7.1 billion, citing trial data. Tango Therapeutics announced workforce reductions and plans to focus on key therapies, with updates expected in 2027. Other analysts have also raised their price targets, with varying opinions on the stock's valuation.