Hold Rating for Terns Pharmaceuticals Amid Awaited Data and Study Developments

In a report released today, Ed Arce from H.C. Wainwright maintained a Hold rating on Terns Pharmaceuticals (TERN – Research Report), with a price target of $7.50.

Ed Arce’s rating is based on several upcoming developments and data evaluations for Terns Pharmaceuticals. The company recently announced plans to commence a Phase 2 study for TERN-601, their promising obesity treatment, which has shown statistically significant weight loss results in earlier trials. However, before moving forward with a more definitive assessment, Arce is awaiting the full design details of the Phase 2 study, particularly the revised titration scheme aimed at reducing gastrointestinal adverse events.
Furthermore, another key factor influencing the Hold rating is the anticipation of interim data for TERN-701, a therapy for chronic myeloid leukemia (CML), expected in early December. This data will provide critical insights into the drug’s safety, tolerability, and early efficacy signals. Until these pivotal data points are clarified, Arce maintains a neutral stance on Terns Pharmaceuticals, given the uncertainties and potential risks associated with these upcoming milestones.

Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TERN in relation to earlier this year.

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Terns Pharmaceuticals (TERN) Company Description:

Terns Pharmaceuticals Inc is a clinical-stage biopharmaceutical company. It is developing a portfolio of small-molecule single-agent and combination therapy candidates for the treatment of non-alcoholic steatohepatitis, or NASH, and other chronic liver diseases.