JMP Securities analyst Silvan Tuerkcan maintained a Buy rating on Terns Pharmaceuticals (TERN – Research Report) today and set a price target of $20.00.
Silvan Tuerkcan has given his Buy rating due to a combination of factors surrounding Terns Pharmaceuticals’ recent developments and financial position. The company has made significant progress in its clinical trials, notably enrolling the first patient in the Phase 2 FALCON study for TERN-601, an oral treatment for obesity. This advancement, along with anticipated key data releases in the second half of 2025 for both obesity and chronic myeloid leukemia (CML), positions Terns Pharmaceuticals as a promising investment.
Tuerkcan also highlights the company’s strong financial standing, with a year-end cash position of $358 million, which is expected to support operations through 2028. The completion of the dose escalation phase for TERN-701 in CML and the planned expansion in the second quarter of 2025 further bolster the company’s outlook. These strategic developments, coupled with the narrowing guidance for safety and weight loss data to the fourth quarter of 2025, underpin the Buy rating, suggesting a positive trajectory for the company’s stock.
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