Tempus AI (TEM) Stock Jumps 7% on Analyst Upgrade and Cancer Trial News
TLDR
- BTIG raised its price target on Tempus AI from $70 to $80, maintaining a Buy rating, sending the stock up 6.9% to $66.21
- The move is also linked to a major cancer trial milestone involving Merck and Moderna’s mRNA therapy, which uses Personalis’ sequencing platform
- Tempus AI agreed last month to acquire Personalis for $1.5 billion, connecting the trial results directly to TEM
- Q2 earnings beat expectations: adjusted EPS of -$0.04 vs. expected -$0.14, with revenue of $382.49 million, up 21.6% year over year
- Analyst consensus sits at Hold with an average price target of $65.69; nine Buy ratings, six Hold, two Sell
Tempus AI (TEM) climbed 6.9% to $66.21 on Thursday after BTIG Research lifted its price target from $70 to $80, keeping its Buy rating on the stock. Volume was heavy, with over 4.5 million shares changing hands by midday.
The stock had closed at $61.25 the prior session, making Thursday’s move one of the stronger single-day gains for TEM in recent weeks.
The catalyst was not just the analyst upgrade. Investors are also connecting a clinical trial result to Tempus AI’s pending $1.5 billion acquisition of Personalis.
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