Citizens raised the firm’s price target on Terns Pharmaceuticals (TERN) to $57 from $35 and keeps an Outperform rating on the shares. Terns’ interim Phase 1 CARDINAL ASH update highlighted the best-in-class profile of TERN-701, the analyst tells investors in a research note. Key additional data points were the high deep molecular response rate, setting it up well in 1L, and the strong activity post asciminib and ponatinib, which is very positive in 2L, Citizens says.
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