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ubs group initiates coverage on tyra biosciences with buy rating and price target

Ally Bridge Group NY LLC and Ensign Peak Advisors Inc. made significant new investments in Tyra Biosciences, with stakes worth approximately $4.23 million and $3.05 million, respectively. American Century Companies Inc. increased its stake by 582.9%, now holding 170,283 shares valued at $2.72 million. The company, focused on precision medicines for FGFR biology, has a consensus "Buy" rating from analysts, with a target price averaging $30.50, despite recent earnings missing expectations.

ubs initiates buy rating for tyra biosciences with strong growth potential

UBS has initiated coverage on Tyra Biosciences (NASDAQ: TYRA) with a Buy rating and a price target of $28, citing strong potential for its drug candidate TYRA-300, which targets non-muscle invasive bladder cancer and achondroplasia. The stock has gained 15.54% recently, and analysts project significant upside, with UBS estimating long-term sales of $350 million for oncology and $650 million for growth disorders by 2035. Positive data updates could lead to over 100% share price growth in the next 12 to 18 months, reflecting confidence in the company's innovative drug development and financial health.
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