Tempus AI shares rise following analyst upgrades
Tempus AI (NASDAQ:TEM) saw its shares increase by 2.7% in pre-market trading after receiving positive analyst actions from Piper Sandler and Canaccord Genuity. Piper Sandler upgraded the stock to 'Overweight' with a raised price target of $76, citing advancements like Personalis’ tumor-informed minimal residual disease platform and FDA approval for Tempus AI’s genomic test. Meanwhile, Canaccord reiterated its 'Buy' rating with an unchanged $80 price target following recent regulatory filings related to the pending acquisition of Personalis. The S-4 filing revealed that the sale process began in May 2024 and attracted interest from multiple strategic parties, though one bid raised antitrust concerns. The transaction remains conditional on regulatory approvals. Tempus AI also recently increased its full-year revenue guidance for 2026 to approximately $1.6 billion following a profitable second quarter. The stock's rise occurred amid broader declines in U.S. markets, with the S&P 500 and Dow Jones each down about 0.5% and the Nasdaq falling nearly 1%. Tempus AI shares were trading above their 52-week low but below their high.
Topics: analyst upgrade Personalis acquisition stock price movement Tempus AI