Oppenheimer’s Favorite Stocks For Next 12 Months: Top 32 Stock Picks

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11. Tyra Biosciences, Inc. (NASDAQ:TYRA)

Share Price Upside: 19%

Number of Hedge Fund Investors In Q2 2024: 14

Average Analyst Share Price Target: $26.33

Tyra Biosciences, Inc. (NASDAQ:TYRA) is a small biotechnology company that is developing treatments for cancer and genetic diseases. It is a pre commercial, clinical stage company which means that the firm is a risky biotechnology investment compared to its peers that have products available for sale in the market. It also means that Tyra Biosciences, Inc. (NASDAQ:TYRA)’s stock depends on its R&D expenses, its cash burn rate, cash reserves, and the outcomes of its clinical trials. The firm’s lead drug candidate is the TYRA 300 for urinary tract cancer. This drug is in phase one trial for its primary use case, and the firm also hopes to expand its use to target other diseases such as bladder cancer and bone growth disorders. Oppenheimer is gushing about Tyra Biosciences, Inc. (NASDAQ:TYRA)’s lead drug, as it shares that “[w]e believe Tyra’s lead FGFR3 inhibitor could become a potential best-in-class therapy for FGFR3-mutant urothelial carcinoma and achondroplasia.”

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