Tango Therapeutics

TNGX · NASDAQ

$25.25+$1.72 (+7.31%)TodayMarket closed · Oct 20, 7:57 PM ET

Prev close $23.53

TNGX analyst rating

BuyConsensus of 14 analysts over the last 12 months. 86% rate it a buy.

Strong buy0
Buy12
Hold2
Underperform0
Sell0

12-month price target · 13 analysts

Average $46.00 (+82.2% upside)

Low: $24.24
Now: $25.25
High: $72.45

Upgrades and downgrades

The latest rating actions, newest first

TNGX analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
William Blair	Oct 16, 2026	Initiates	Outperform	—	52%
HC Wainwright & Co.	Aug 18, 2026	Maintains	Buy	$66.00 → $68.00	41%
Guggenheim	Aug 12, 2026	Maintains	Buy	$32.00 → $35.00	62%
Mizuho	Jul 17, 2026	Maintains	Outperform	$36.00 → $40.00	54%
JP Morgan	Jul 15, 2026	Initiates	Overweight	$46.00	40%
Canaccord Genuity	Jun 29, 2026	Maintains	Buy	$42.00 → $46.00	35%
Jefferies	Jun 26, 2026	Upgrade	Hold → Buy	$27.00 → $60.00	29%
Canaccord Genuity	Jun 11, 2026	Maintains	Buy	$42.00	35%
HC Wainwright & Co.	Jun 9, 2026	Maintains	Buy	$27.00 → $66.00	41%
Canaccord Genuity	Jun 9, 2026	Maintains	Buy	$30.00 → $42.00	35%

The case for and against

Updated Oct 17, 2026

Bull case

Tango Therapeutics is supported by a differentiated PRMT5 strategy centered on vopimetostat, which has shown encouraging early combination efficacy, including a 92% ORR and 90% 6-month PFS in n=12 2L/3L PDAC patients, while also retaining optionality in NSCLC and CNS cancers through TNG456. The company ended 2Q26 with about $1B in cash, cash equivalents, and marketable securities, a balance that management says can fund its current operating plan, including preclinical and clinical work and a planned Phase 3 trial in PDAC. With upcoming 2H26 catalysts, including ESMO 2026 updates, initial TNG456 data, and Phase 3 design finalization, the stock also benefits from a highly shorted setup, as short interest reached 54.46% of the public float.

Bear case

Tango Therapeutics is viewed negatively because its value depends on a highly uncertain DCF framework that assumes a 10% discount rate, a 1.5% terminal growth rate, and relatively high approval probabilities for vopimetostat, while the core assets still face meaningful clinical and regulatory execution risk. The lead programs TNG462 and TNG456 could disappoint in efficacy, registrational timing, or safety, and the company also faces intense competition in PRMT5 and KRAS-driven oncology, where stronger alternatives may limit physician adoption and partnership upside. Its financing needs add further downside, since ongoing R&D and trial costs may require dilutive capital raises that could pressure per-share value even if development progresses.

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