Truist analyst Srikripa Devarakonda raised the firm’s price target on Terns Pharmaceuticals (TERN) to $35 from $28 and keeps a Buy rating on the shares. The firm is updating its model following its key opinion leader checks for TERN-701 in chronic myeloid leukemia after positive ASH data, the analyst tells investors in a research note. Truist adds that it now assigns $1.6B in peak adjusted sales to TERN-701 vs. $1.4B previously.
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