H.C. Wainwright analyst Joseph Pantginis has maintained their neutral stance on TPST stock, giving a Hold rating yesterday.
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Joseph Pantginis’s rating is based on a combination of factors that reflect both the challenges and potential opportunities facing Tempest Therapeutics. The company’s recent financial results showed a narrower loss than expected, and it maintains a cash position of $21.5 million. Despite this, Tempest is navigating a difficult financial environment for healthcare funding, which impacts its strategic options.
Tempest’s lead clinical program, amezalpat, has shown promising data, especially in comparison to Roche’s MORPHEUS-Liver study. However, the timing of this data release coincided with a challenging market environment. The partnership with Roche, which includes a drug supply agreement for a pivotal study, provides crucial support and cost savings, yet the overall financial and market conditions contribute to a cautious outlook, resulting in a Hold rating from Pantginis.
In another report released yesterday, Scotiabank also maintained a Hold rating on the stock with a $9.00 price target.