Piper Sandler lowered the firm’s price target on Tempest Therapeutics to $6 from $10 and keeps an Overweight rating on the shares. The analyst rolled forward its discount period to 2023 from 2022. Tempest ended 2022 with cash of $31.2M,, having paid down debt to $10.3M, which is expected to fund operations now into Q2 of 2024, the analyst tells investors in a research note.
Published first on TheFly
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