What is HC Wainwright’s Estimate for TPST FY2024 Earnings?

Tempest Therapeutics, Inc. (NASDAQ:TPST) – Investment analysts at HC Wainwright lifted their FY2024 EPS estimates for Tempest Therapeutics in a research note issued on Wednesday, November 13th. HC Wainwright analyst J. Pantginis now expects that the company will post earnings of ($1.27) per share for the year, up from their previous forecast of ($1.54). HC Wainwright currently has a “Buy” rating and a $47.00 target price on the stock. The consensus estimate for Tempest Therapeutics’ current full-year earnings is ($1.50) per share. HC Wainwright also issued estimates for Tempest Therapeutics’ Q4 2024 earnings at ($0.19) EPS, FY2025 earnings at ($0.87) EPS, FY2026 earnings at ($1.07) EPS, FY2027 earnings at ($0.89) EPS and FY2028 earnings at ($1.04) EPS.

TPST has been the subject of a number of other reports. Piper Sandler reduced their target price on shares of Tempest Therapeutics from $8.00 to $5.00 and set an “overweight” rating for the company in a report on Wednesday. William Blair reaffirmed an “outperform” rating on shares of Tempest Therapeutics in a report on Wednesday. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $20.00.

Tempest Therapeutics Price Performance

Shares of TPST stock opened at $0.97 on Friday. Tempest Therapeutics has a 12 month low of $0.86 and a 12 month high of $6.00. The company has a 50 day simple moving average of $1.20 and a two-hundred day simple moving average of $1.96.

Hedge Funds Weigh In On Tempest Therapeutics

A number of hedge funds have recently modified their holdings of TPST. Empower Advisory Group LLC bought a new position in shares of Tempest Therapeutics in the third quarter worth approximately $49,000. Dimensional Fund Advisors LP bought a new position in shares of Tempest Therapeutics in the second quarter worth approximately $55,000. Fullcircle Wealth LLC bought a new position in shares of Tempest Therapeutics in the third quarter worth approximately $87,000. Finally, Virtu Financial LLC boosted its position in shares of Tempest Therapeutics by 69.2% in the first quarter. Virtu Financial LLC now owns 28,574 shares of the company’s stock worth $112,000 after purchasing an additional 11,689 shares during the period. 22.52% of the stock is currently owned by institutional investors.

About Tempest Therapeutics

Tempest Therapeutics, Inc, a clinical-stage oncology company, develops small molecule therapeutics that combine both tumor-targeted and immune-mediated mechanisms to treat various tumors. The company's two clinical programs are TPST-1495, a dual antagonist of EP2 and EP4, receptors of prostaglandin E2, which is in a Phase 1 trial to treat cancer; and TPST-1120, a selective antagonist of peroxisome proliferator-activated receptor alpha that is in a Phase 1 trial for the treatment of solid tumors.