Citizens JMP analyst Silvan Tuerkcan lowered the firm’s price target on Terns Pharmaceuticals (TERN) to $15 from $20 and keeps an Outperform rating on the shares. The company’s TERN-601 did not meet the criteria to become a competitive oral program in obesity based on the lower than anticipated weight loss and side effect profile, the analyst tells investors in a research note. The firm, however, views it as a positive that Terns “reacted promptly” and stopped further development.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TERN:
- Cautious Hold on Terns Pharmaceuticals Amid Underwhelming Trial Results and Strategic Shift
- Terns Pharmaceuticals price target lowered to $9 from $14 at Mizuho
- Terns Pharmaceuticals price target lowered to $17 from $20 at Oppenheimer
- Terns Pharmaceuticals Halts TERN-601 Development
- Terns Pharmaceuticals price target lowered to $14 from $15 at Barclays