Scotiabank analyst George Farmer last night initiated coverage of Tempest Therapeutics with an Outperform rating and $13 price target. The analyst recommends buying shares of Tempest to capture the value potential of its lead oral small molecule, TPST-1120, for the treatment of advanced unresectable hepatocellular carcinoma, a subset of liver cancer. The firm says Phase 2 clinical trial results show a “compelling” improvement in overall survival when used in combination with standard-of-care in patients with intermediate- to high-risk disease, which highly supports the potential clinical utility of ‘1120 as first-line treatment.
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