Wedbush Reaffirms Outperform Rating for Tango Therapeutics (TNGX)

Tango Therapeutics Inc. (NASDAQ:TNGX) is one of the 10 most shorted biotech stocks to buy according to hedge funds.

On March 6, Wedbush increased the firm’s price target on Tango Therapeutics Inc. (NASDAQ:TNGX) from $15 to $19 following the company’s fourth quarter financial results and corporate updates. The firm maintained an Outperform rating on the shares, with a price target indicating an upside of more than 12%.

Wedbush noted that vopimetostat, a protein arginine methyltransferase 5 inhibitor, remains on track to enter its first pivotal study in 2026. The planned trial will evaluate the therapy in second-line pancreatic ductal adenocarcinoma.

On February 23, Mizuho initiated coverage of Tango Therapeutics Inc. (NASDAQ:TNGX) with an Outperform rating and $19 price target. The firm believes that the company’s lead precision oncology candidate, vopimetostat, has the potential for “first-in-class and best-in-class” opportunities as monotherapy and in combination with RAS(ON) inhibitors for pancreatic ductal adenocarcinoma and non-small cell lung cancer.

Mizuho estimates that the company could generate $1.8 billion in risk-adjusted worldwide sales of vopimetostat by 2035. It also anticipates positive Phase I data in 2026, which will result in “significant outperformance” of the shares.

Tango Therapeutics Inc. (NASDAQ:TNGX) is a precision oncology company dedicated to finding targeted treatments for cancer patients who currently have limited options. Their pipeline zeroes in on specific genetic vulnerabilities in tumors, with promising therapies in clinical trials targeting tough-to-treat cancers like pancreatic cancer, lung cancer, and glioblastoma.