Jefferies Rates Tango Therapeutics (TNGX) buy, $60 Price Target

Jefferies upgraded Tango Therapeutics to 'buy' with a new price target of $60, a 84.28% upside from the current price.

By EarningsIQ Research Desk · Published Jun 26, 2026, 10:01 AM EDT · Updated Jun 30, 2026, 11:03 AM EDT

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Jefferies rated Tango Therapeutics, Inc. ($TNGX) "buy" with a $60 price target on June 26, 2026.

Since the rating, $TNGX is down 4.9% after 1 week, down 15.1% after 1 month and down 30.0% to date (from the $31.47 close on Jun 26, 2026).

TNGX Tango Therapeutics, Inc.

$22.04 +146.81% year to date

Daily close · Oct 16, 2026

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.

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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.

Analyst rating track record

Jefferies vs. the S&P 500

YTD return +40.25% hypothetical

All-time return +115.18% S&P 500 +25.78%

vs. S&P 500 +89.40% ahead of the index

Hypothetical returns from Jefferies's disclosed trades, not real profit or advice. How we model this.

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 49.7%

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.

12-month forecast

$TNGX price target

Tango Therapeutics, Inc. daily closes and this analyst's $60 target. Not 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.