TD Cowen analyst Ritu Baral has maintained their bullish stance on TERN stock, giving a Buy rating on March 24.
Ritu Baral has given her Buy rating due to a combination of factors related to Terns Pharmaceuticals’ promising clinical trials and financial stability. The company is advancing its ‘701 program for chronic myeloid leukemia (CML), with the upcoming dose expansion phase of the CARDINAL trial set to begin in the second quarter of 2025. This trial has already shown positive interim results, with significant molecular and hematologic responses in patients, and a favorable safety profile in early testing.
Additionally, Terns Pharmaceuticals is conducting the FALCON trial for obesity, which has recently started and is expected to provide data by the fourth quarter of 2025. Financially, Terns ended the fourth quarter of 2024 with a substantial cash reserve of $358 million, which is projected to support operations until 2028. This strong financial position, combined with the potential of its clinical programs, underpins Baral’s optimistic outlook on the stock.
In another report released on March 24, Oppenheimer also maintained a Buy rating on the stock with a $20.00 price target.