Benzinga | Jul 13, 2021 09:12AM EDT

H.C. Wainwright Says Targeted Oncology Therapies "Gives An Edge" To Tempest Therapeutics

* H.C. Wainwright has initiated coverage of Tempest Therapeutics Inc (NASDAQ:TPST) with a Buy rating and $51 price target, seeing an upside potential of over 100%.

* A strategic portfolio of targeted therapies in oncology "gives Tempest an edge," analyst Joseph Pantginis tells investors in a research note.

* According to him, Tempest sets itself apart from other companies in the immuno-oncology space by shifting its focus to innovative targets and mechanisms.

* Recently, Tempest began trading on the NASDAQ through a reverse merger with Millendo Therapeutics.

* Sam Whiting, chief medical officer, will participate in a webcast panel titled "Developing Therapies for the Next Immuno-Oncology Targets" at the William Blair 2021 Biotech Focus Conference tomorrow.

* Price Action: TPST shares are up 5.42% at $25.50 during the premarket session on the last check Tuesday.