Oppenheimer raised the firm’s price target on Terns Pharmaceuticals (TERN) to $20 from $17 and keeps an Outperform rating on the shares. Terns reported an interim update on TERN-701’s Phase 1 study in chronic myeloid leukemia, providing “encouraging” three month efficacy and safety data that reinforce confidence surrounding its differentiated profile over existing tyrosine kinase inhibitors, the analyst tells investors in a research note. The firm believes TERN-701’s emerging profile supports development in earlier-line settings, and its three-month performance strengthens its optimism surrounding longer-term major molecular response data, expected in Q4 of 2025.
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Read More on TERN:
- Terns Pharmaceuticals Reports Promising Results in CML Trial
- Terns Pharmaceuticals announces early data from Phase 1 CARDINAL trial
- Terns Pharmaceuticals Appoints Heather Turner to Board
- Terns Pharmaceuticals Reports Q3 Progress and Financials
- Terns Pharmaceuticals reports Q3 EPS (28c), consensus (32c)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
