Mizuho lowered the firm’s price target on Terns Pharmaceuticals to $10 from $17 and keeps a Buy rating on the shares. The analyst updated the company’s model post the Q3 results. Terns’s focus increasingly appears to be shifting to TERN-601 for obesity and TERN-701 for chronic myeloid leukemia, the analyst tells investors in a research note. The firm still sees over 100% upside potential from current share levels and notes the company has a cash runway into 2026. It says TERN-601 is still not factored into its model.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on TERN:
- Terns Pharmaceuticals Mourns the Loss of Senthil Sundaram, Former Chief Executive Officer
- Cantor Fitzgerald biotech analysts hold an analyst/industry conference call
- Terns Pharmaceuticals reports Q3 EPS (42c), consensus (31c)
- Terns Pharmaceuticals Reports Third Quarter 2023 Financial Results and Corporate Updates
- Terns Pharmaceuticals announces late-breaking data from Phase 2a DUET trial
