Jefferies Raises Tango Therapeutics Price Target to $60
Jefferies upgraded Tango Therapeutics to 'buy' with a new price target of $60, a 84.28% upside from the current price.
Key Points
- Jefferies analyst Maury Raycroft upgraded Tango Therapeutics to a 'buy' and set a new price target of $60 on June 26, 2026.
- Jefferies's $60 price target implies 84.28% upside from Tango Therapeutics, Inc.'s ($TNGX) current $32.56 share price.
- Shares of Tango Therapeutics traded near $30.14 on Friday with a market cap of about $4.91 billion.
- RTW Investments and FMR LLC significantly increased their holdings in Tango, with RTW growing its stake by 11.8 million shares.
Important disclosure: Podchat is not a registered investment adviser, broker-dealer, or financial planner. This article is for informational and educational purposes only and is not a recommendation to buy, sell, or hold any security. Content may be generated by automated systems using public filings, market data, and third-party sources, and may contain errors or omissions. Investing involves risk, including possible loss of principal. Past performance, insider activity, analyst ratings, price targets, sentiment scores, and hypothetical or backtested results are not guarantees of future performance. Please do your own research and consult a qualified professional before making investment decisions.
Jefferies has upgraded its outlook on Tango Therapeutics, Inc. (NasdaqGM: TNGX), raising the stock's target price to $60 and assigning a 'buy' rating. The analyst behind the move, Maury Raycroft, announced the new target on June 26, 2026. Shares of Tango Therapeutics traded near $30.14 on Friday.
Jefferies vs. the S&P 500
Hypothetical, simulated performance of disclosed positions vs. the S&P 500. Not realized profit and not investment advice. Past performance does not indicate future results. Details.
Other Institutional Activity in Tango Therapeutics
RTW Investments, LP significantly increased its holdings in Tango Therapeutics, adding 11.8 million shares to end with 13.3 million shares valued at approximately $278.2 million, a 791.9% increase. Adage Capital Partners GP, L.L.C. also grew its position by 2.2 million shares, bringing its total to about 12.8 million shares worth $268 million, marking a 20.8% increase. Meanwhile, Boxer Capital Management, LLC held steady with its 10.9 million shares, while TCG Crossover Management, LLC reduced its stake by 2.2 million shares to 10.5 million shares, a 17.5% decrease. FMR LLC notably increased its holdings by 7 million shares, reaching a total of 9.9 million shares valued at $207.2 million, a 245.4% boost.
Tango Therapeutics, Inc. Stock Up 39.5%
Shares of Tango Therapeutics traded near $30.14 on Friday. The company, with a market cap of approximately $4.91 billion, is in the biotechnology sector. Tango's forward P/E ratio is not meaningful as the company is not currently profitable. The stock has a beta of 1.194, indicating moderate volatility compared to the market. Over the past year, the stock has swung between a low of $4.8 and a high of $34.39. Its 50-day moving average stands at $24.96, while the 200-day moving average is $14.79. Tango boasts a strong current ratio of 27.38, reflecting its ability to cover short-term liabilities.
$TNGX price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Recent Earnings
In its latest earnings report, Tango Therapeutics posted revenue of $56.99 million. The company's net margin was -188.15%, with a return on equity of -38.42%. The next earnings release is scheduled for May 13, 2026.
Insider Buying and Selling at Tango Therapeutics, Inc.
Recent insider activity at Tango Therapeutics included several purchases. On June 19, 2026, Robert Azelby bought 5,740 shares and an additional 35,910 shares. Earlier in June, on the 5th, Mace Rothenberg acquired 4,000 shares, Sung Lee purchased 570 shares, while both Lesley Ann Calhoun and John Ketchum bought 25,000 shares each.
Analysts Set New Price Targets
On June 26, 2026, Jefferies upgraded Tango Therapeutics to a 'buy' with a new price target of $60. Canaccord Genuity and HC Wainwright & Co. maintained their 'buy' ratings, with targets of $42 and $66, respectively. Leerink Partners also maintained a 'buy' rating, setting a target of $69. Meanwhile, Piper Sandler downgraded the stock to 'hold' with a target of $24.
About Tango Therapeutics
Tango Therapeutics, Inc. is a biotechnology company based in Boston, Massachusetts. Founded in 2017, the company focuses on precision oncology, developing drugs for specific patient groups with unmet medical needs. Tango's pipeline includes PRMT5 inhibitors like TNG462 and TNG456, targeting cancers such as pancreatic, lung, and glioblastoma. Dr. Malte Peters, M.D., leads the company as CEO, and Tango employs around 137 people.
Bottom Line
Jefferies' recent upgrade to a 'buy' rating with a $60 target highlights growing confidence in Tango Therapeutics. Institutional investors like RTW Investments and FMR LLC have significantly increased their stakes, indicating strong interest in the company's potential. As a precision oncology firm, Tango is focused on developing innovative treatments for cancer, a field with substantial demand and potential for growth.
Get Tango Therapeutics, Inc. alerts
New 13F filings, insider trades, and analyst moves on $TNGX, sent to your inbox. Free, and you can unsubscribe anytime.
This instant news alert was generated by automated narrative technology and financial data from Podchat and public regulatory filings. It is for informational purposes only and is not financial advice.