Buy Rating Affirmed for Tempest Therapeutics Amidst Promising Clinical Advancements

In a report released today, Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on Tempest Therapeutics (TPST – Research Report), with a price target of $47.00.

Joseph Pantginis has given his Buy rating due to a combination of factors including the progression of Tempest Therapeutics’ clinical pipeline and the anticipated updates on their clinical studies. The company has shown consistent movement with two active clinical programs, TPST-1120 and TPST-1495, which are expected to reach significant milestones in the near future. The expectation of revealing updated data for the TPST-1120 study in Hepatocellular Carcinoma (HCC) by the end of the year, and its potential advancement into a Phase 3 study, are key catalysts that contribute to the positive outlook.
Furthermore, the company’s plans to initiate a Phase 2 study with TPST-1495 for patients with Familial Adenomatous Polyposis, pending final approval, showcases the company’s proactive approach to expanding its treatment portfolio. Impressively, preclinical data presented at AACR 2024 indicates that TPST-1120, as a monotherapy or in combination with other treatments, has the potential to inhibit kidney cancer growth. This supports the drug’s unique mechanism of action and its clinical benefit, reinforcing Pantginis’s confidence in the company’s prospects and justifying the Buy rating for Tempest Therapeutics’ stock.

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Tempest Therapeutics (TPST) Company Description:

Tempest Therapeutics is a clinical-stage biotechnology company focused on developing small-molecule therapeutics to treat cancer.