H.C. Wainwright analyst Yi Chen reiterated a Buy rating on Tempus AI, Inc. Class A today and set a price target of $98.00.
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Yi Chen has given his Buy rating due to a combination of factors including Tempus AI’s strategic collaboration with Whitehawk Therapeutics, which aims to utilize Tempus’ extensive real-world dataset to enhance biomarker-driven oncology research. This partnership focuses on developing antibody drug conjugates (ADC) targeting proteins that are widely expressed in cancers such as lung and gynecological cancers, thereby reinforcing Tempus AI’s pivotal role in advancing targeted cancer therapies.
Moreover, the collaboration has already yielded promising results, with a large-scale RNA analysis confirming PTK7 as a highly expressed target across solid tumors. This finding supports the potential of PTK7 as a significant pan-tumor ADC target. Additionally, Tempus AI’s robust proprietary database is expected to facilitate further collaborations, potentially boosting its growth prospects. These elements collectively underpin Yi Chen’s confidence in Tempus AI’s future performance, justifying the reiterated Buy rating and a price target of $98.
In another report released on October 27, Canaccord Genuity also maintained a Buy rating on the stock with a $91.02 price target.