Several analysts kicked off coverage of Tempus AI (TEM) with bullish comments, anticipating gains from the biotech company’s applications of artificial intelligence (AI) to healthcare.
William Blair and J.P. Morgan analysts gave Tempus AI stock an “overweight” rating, with J.P. Morgan setting its price objective for Tempus at $42. Meanwhile, Bank of America assigned the stock a “buy” rating and set its price target at $41, while Stifel also gave Tempus a “buy” rating and set a price objective of $45.
Shares of Tempus AI surged in early trading Tuesday, but were down about 1% at $33.54 as of 2:20 p.m. ET. The stock, which began trading in June, has fallen about 10% from its initial public offering (IPO) price of $37.
The analysts highlighted Tempus’ positioning to gain as a healthcare company utilizing AI, and potential to benefit from investor interest in AI-related stocks and healthcare innovations.
Tempus claims “one of the world’s largest libraries of multimodal data” and an …