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William Blair initiated coverage on Tempus AI, Inc (NASDAQ:TEM), citing the company’s ‘differentiated approach and business model.’
Tempus AI is a healthcare technology company that utilizes artificial intelligence technology to collect and analyze molecular, clinical, and genomic data.
It collects clinical and genomic databases from academic medical centers and community-based hospitals.
Related: Tempus Could Gain Share In AI Health Care Market Poised To Grow By Over 30%.
In June, the company launched an IPO priced at $37 per share via selling 11.1 million shares, with gross proceeds of around $410.7 million.
William Blair says the Outperform rating is based on “What we believe is a massive market opportunity, Tempus’s differentiated approach and business model, and a reasonable valuation level provided the company is able to execute on targets over the near and intermediate term.”
The William Blair analyst writes that the NGS-based therapy selection tests market is nearing 30% adoption. Tempus holds a market share of around 25%.
As guidelines endorse simultaneous testing (liquid biopsy and solid tumor), RNA testing’s value grows. Monitoring minimal residual disease and recurrence is becoming standard practice, positioning Tempus with a diverse test menu for substantial growth ahead.
Tempus initially focused on oncology but intends to expand its platform beyond this field.
They plan to deploy it in various disease areas and utilize AI-based applications to improve diagnostics, reduce care gaps, and extend into emerging categories such as neuropsychiatry, cardiology, and radiology.
Tempus trades at 5.5 times 2025 revenue, which is in line with its peer group, which is reasonable given its faster top-line growth profile and differentiated data business.
Price Action: TEM shares are down 0.63% at $32.99 at the last check on Tuesday.
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Tempus lab photo courtesy of Tempus
Posted In: TEM
