TD Cowen analyst Ritu Baral has maintained their bullish stance on TERN stock, giving a Buy rating today.
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Ritu Baral has given his Buy rating due to a combination of factors related to Terns Pharmaceuticals’ promising clinical trial results and financial stability. The company’s drug candidate, ‘701, demonstrated a significant 64% major molecular response (MMR) rate at six months in patients with resistant or relapsed chronic myeloid leukemia (CML), which is notably higher than current treatments. This efficacy positions ‘701 as a potentially best-in-class therapy, suggesting strong adoption in first-line and second-line treatments.
Moreover, Terns Pharmaceuticals is financially well-positioned, with $295 million in cash reserves, providing operational runway through 2028. Despite reporting a net loss in the third quarter of 2025, the company’s research and development expenses slightly decreased, and its general and administrative expenses showed a modest increase. These factors collectively underpin Ritu Baral’s optimistic outlook on Terns Pharmaceuticals, leading to the Buy rating.
In another report released today, Mizuho Securities also maintained a Buy rating on the stock with a $33.00 price target.
Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TERN in relation to earlier this year.