Barclays analyst Etzer Darout lowered the firm’s price target on Terns Pharmaceuticals (TERN) to $14 from $15 and keeps an Overweight rating on the shares. The firm says TERN-601 fell short of the threshold for advancement. However, this has minimal impact to the price target the analyst tells investors in a research note. Barclays views the obesity data as a “clearing event” for Terns.
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