Ladenburg Thalmann & Co. analyst Aydin Huseynov reiterated a Buy rating on Tempest Therapeutics (TPST – Research Report) today and set a price target of $10.00.
Aydin Huseynov has given his Buy rating due to a combination of factors that suggest the potential growth and success of Tempest Therapeutics. Firstly, Tempest Therapeutics is actively involved in discussions with potential partners to advance TPST-1120, a front-line agent for liver cancer, while trying to secure favorable terms and retaining ownership for other uses such as renal and cholangio indications. It is believed that potential business development partners recognize the potential of TPST-1120 in liver cancer, especially considering the substantial opportunities in Asian markets. Furthermore, once a liver business development deal is closed, Tempest Therapeutics may raise equity capital, further strengthening its position.
Huseynov also noted that Tempest Therapeutics recently raised $23.9M via its ATM program, thanks to high stock volume and volatility. This additional capital gives the company the financial flexibility to negotiate a profitable deal without haste, and it also allows more time for the TPST-1102 combo data to mature, potentially adding value to the eventual deal. Moreover, Huseynov believes that among contenders for the 1L HCC combo, emerging PD-1/PD-L1 companies such as BeiGene would be the best fit, adding another layer of potential growth and success for Tempest Therapeutics. These factors collectively contribute to Huseynov’s Buy rating for the company.
In another report released yesterday, Piper Sandler also reiterated a Buy rating on the stock with a $8.00 price target.
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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.
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