Tango Therapeutics, Inc. (TNGX) AI Stock Analysis
TNGX AI stock analysis summary
AI ResearchTango Therapeutics, Inc. (TNGX) is a biotechnology company focused on synthetic lethal cancer therapies. While revenue expanded over a 5-year CAGR of 52.1% through FY2025, quarterly revenue declined 100.0% year-over-year in the quarter ended June 30, 2026. The company maintains a strong liquidity profile with $982.0M in net cash alongside ongoing net losses.
- Market cap
- $3.72B
- Revenue (TTM)
- $53.8M
- P/E
- —
- 1Y return
- 140.3% S&P 500 16.8%
- Avg. target
- $44.88 103.6% vs last close
Bull case
- The balance sheet is well capitalized with $1.01B in cash and short-term investments and $982.0M in net cash as of June 30, 2026.
- Analyst coverage reflects upside potential, with 10 Strong Buy ratings and an average price target of $44.88, which is 103.6% above the last close.
- The 1-year stock return reached 140.3%, significantly outpacing the 16.8% return of the S&P 500.
Bear case
- Trailing twelve-month operating margin is -253.4% and free cash flow for FY2025 was -$139.9M due to heavy ongoing clinical spending.
- Quarterly revenue declined 100.0% year-over-year in the period ended June 30, 2026, with FY2026 revenue estimated by analysts at $0.
- Valuation multiples remain elevated, with a price-to-sales ratio of 69.1x compared to the US-listed Healthcare peer median of 4.1x.
What Tango Therapeutics does
Tango Therapeutics, Inc. is a Cambridge, Massachusetts-based biotechnology company founded in 2017 that leverages synthetic lethal interactions to discover and advance cancer therapies. Its lead pipeline asset is TNG908, a small molecule PRMT5 inhibitor tailored for cancers with methylthioadenosine phosphorylase deletions. The company is also developing Ubiquitin-specific protease 1 inhibitors for BRCA1 or BRCA2-mutant cancers and Target 3 therapies for STK11-mutant cancers. In addition, Tango Therapeutics collaborates with Gilead Sciences, Inc. to discover, develop, and commercialize precision oncology therapies.
Growth and profitability
Tango Therapeutics generated revenue of $62.4M in FY2025, representing a 48.3% increase compared to $42.1M in FY2024 and $36.5M in FY2023. Revenue previously fell 32.9% in FY2022 to $24.9M after reaching $37.0M in FY2021. Gross margin was 96.3% in FY2025 after four consecutive years at 100.0%. Heavy research and development spending, including $132.2M in FY2025 and $143.9M in FY2024, kept profitability negative, with an FY2025 operating margin of -178.4% and net income of -$101.6M. For the trailing twelve months ended June 30, 2026, revenue stood at $53.8M with a profit margin of -229.9%, as quarterly revenue fell 100.0% year-over-year.
Balance sheet and cash flow
As of June 30, 2026, Tango Therapeutics held $1.01B in cash and short-term investments against total debt of $32.0M, resulting in net cash of $982.0M. Shareholders' equity was $1.02B with a current ratio of 50.82 and a debt-to-equity ratio of 0.03. In FY2025, operating cash flow was -$138.9M and free cash flow was -$139.9M, with capital expenditures of $1.0M. The company does not pay dividends or conduct share repurchases, and its share count grew 71.2% over the trailing 5-year period.
Valuation and performance
With a market capitalization of $3.72B and enterprise value of $3.14B, Tango Therapeutics trades at a price-to-sales multiple of 69.1x and an enterprise value-to-revenue multiple of 58.4x. These levels represent a substantial premium over the median of its US-listed Healthcare peers, which carries a price-to-sales multiple of 4.1x and EV-to-EBITDA of 12.0x. The stock closed at $22.04 on October 16, 2026, up 140.3% over the prior year compared to a 16.8% return for the S&P 500 (SPY). Over five years, the stock gained 57.1% against 83.0% for SPY.
What analysts expect
Wall Street sentiment is predominantly positive, with 10 Strong Buy, 1 Buy, and 1 Hold ratings. The mean price target is $44.88, which is 103.6% above the last close of $22.04. Consensus estimates anticipate an EPS of -$1.40 on $0 in revenue for the current fiscal year ending December 31, 2026, followed by an EPS of -$1.66 on revenue of $2.6M for next fiscal year. The company beat EPS estimates in 2 of the last 4 quarters, and the next earnings date is November 3, 2026.
Key risks and what to watch
- Substantial ongoing cash burn could eventually require additional capital, given free cash flow of -$139.9M in FY2025.
- High short interest poses volatility, with short interest sitting at 26.7% of the float.
- Shareholder dilution has been significant, evidenced by a 71.2% increase in the share count over five years.
- Earnings have been unpredictable, with the company beating EPS consensus in only 2 of the last 4 quarters.
AI-generated research summary. Written with AI from Quotelinks data as of October 16, 2026 and checked so every figure matches that data. For information only, not investment advice. Disclaimer
About this TNGX AI stock analysis
This page is an AI-written research summary of Tango Therapeutics, Inc. (TNGX). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.
Related: TNGX income statement, TNGX balance sheet, TNGX key metrics, TNGX analyst forecast, TNGX chart. See the TNGX stock overview for the latest quote and news.
TNGX AI stock analysis FAQ
What is Tango Therapeutics' primary focus?
Tango Therapeutics discovers and develops targeted cancer therapies based on synthetic lethality, with leading programs including TNG908, a PRMT5 inhibitor, as well as treatments targeting BRCA1, BRCA2, and STK11 mutations.
Does Tango Therapeutics pay a dividend?
No, Tango Therapeutics does not pay a dividend. The company directs its resources toward research and clinical development.
What is Tango Therapeutics' current cash position?
As of June 30, 2026, the company held $1.01B in cash and short-term investments, with total debt of $32.0M and net cash of $982.0M.
What are analysts forecasting for TNGX stock?
Analysts hold a mean price target of $44.88, which is 103.6% higher than the October 16, 2026 closing price of $22.04, with 10 Strong Buy, 1 Buy, and 1 Hold ratings.