Truist initiated coverage of Terns Pharmaceuticals (TERN) with a Buy rating and $20 price target The company has a potential best-in-class lead asset in TERN-701 following the “promising” Phase 1 data in rare blood cancer, which represents a near $1B opportunity, the analyst tells investors in a research note. The firm believes Terns’ second asset, an oral GLP-1 agonist, is “derisked”0 by approved drugs. It expects the company’s near-term readouts to further derisk the pipeline.
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Read More on TERN:
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- Terns Pharmaceuticals: A Promising Buy Amid Competitor Challenges in the Oral GLP-1 Space
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