Tempest Therapeutics (TPST – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Joseph Pantginis from H.C. Wainwright remains neutral on the stock and has a $47.00 price target.
Joseph Pantginis has given his Buy rating for Tempest Therapeutics due to a combination of factors. Among these are the company’s impressive 3Q23 financial results, which exceeded estimated projections. Furthermore, Tempest’s cash position has been significantly bolstered by ongoing ATM net proceeds, ensuring a secure financial runway into 2025. This financial security, combined with external validation of the company’s clinical pipeline, has greatly increased confidence in the company’s future prospects.
The validation is primarily due to a positive data update by Roche/Genentech’s MORPHEUS-Liver study, which indicated the potential of the TPST-1120 regimen for liver cancer. This promising clinical data, along with a strengthened balance sheet, enables Tempest to engage in partnership discussions to progress TPST-1120. Moreover, other indications, including kidney cancer, are also being explored. These developments suggest that Tempest is poised to make substantial contributions to the standard of care regimen. Further, the company retains global development and commercialization rights to TPST-1120, reinforcing the potential for significant returns on investment. This combination of financial stability, clinical validation, and development potential underlies Pantginis’ Buy recommendation for Tempest Therapeutics.
See the top stocks recommended by analysts >>
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
Tempest Therapeutics (TPST) Company Description:
Tempest Therapeutics is a clinical-stage biotechnology company focused on developing small-molecule therapeutics to treat cancer.
Read More on TPST:
- Tempest Reports Third Quarter 2023 Financial Results and Provides Business Update
- Four new option listings and nineteen option delistings on October 24th
- Tempest Therpeutics trading resumes
- Tempest Therpeutics trading halted, volatility trading pause
- Tempest Therapeutics (NASDAQ:TPST) Explodes 2,100% Higher on New Data Release
