Tango Therapeutics Inc. (NASDAQ:TNGX) is one of the Stocks to Watch Right Now.
Tango Therapeutics extended its rally for a second day on Thursday to hit an all-time high, as investors took path from an investment firm’s bullish stance for its stock.
At intra-day trading, the stock climbed to its highest price of $16.97 before paring gains to finish the session just up by 36.28 percent at $16.83 apiece.
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In a market report, investment firm Stifel reaffirmed its “buy” recommendation and $15 price target for the stock. The figure was 21 percent higher than the $12.35 closing price in the previous trading day.
This followed Tango Therapeutics Inc.’s (NASDAQ:TNGX) earnings performance last year, having narrowed its net loss by 22 percent to $101.59 million from $130.3 million in 2024. Total revenues also jumped by 48.3 percent to $62.38 million from $42.07 million year-on-year.
In the fourth quarter alone, net loss widened by 26 percent to $38.7 million from $30.76 million, as it did not earn any revenues during the period, as compared with a $5.4 million registered in the same period a year earlier.
For this year, Tango Therapeutics Inc. (NASDAQ:TNGX) is targeting to kick off a number of clinical trials to test its drug candidate vopimetostat in combination with multiple inhibitors for the treatment of pancreatic cancer.
It recently entered into a clinical trial collaboration and supply agreement with Erasca for the study of vopimetostat in combination with ERAS-0015.
While we acknowledge the potential of TNGX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.
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