Wall Street Forecasts 42.31% Upside To Terns Pharmaceuticals, Inc. (TERN)

Core Insights - Terns Pharmaceuticals, Inc. (NASDAQ:TERN) is recognized as one of the top 14 stocks to buy currently, with a Buy rating and a price target of $56 from Truist Financial analyst Srikripa Devarakonda [1] - The stock's price target was raised from $35 to $56 following positive Phase 1 study results for TERN-701, aimed at treating chronic myeloid leukemia (CML) [2] - The study demonstrated a 64% major molecular response rate at 24 weeks, indicating strong efficacy and safety, which has led to a bullish outlook from analysts [3] Analyst Ratings - Mizuho Securities also maintains an Outperform rating on Terns Pharmaceuticals with a price target of $54, viewing TERN-701 as a potential best-in-disease treatment for CML [3] - The consensus among Wall Street analysts is a Strong Buy rating, with shares having increased over 300% in the last three months [4] - Analysts project an additional upside of 42.31%, based on a one-year average share price target of $53.75 [4] Company Overview - Terns Pharmaceuticals is a biopharmaceutical company focused on developing treatments for serious diseases, including cancer and obesity [5] - The company aims to initiate pivotal trials for TERN-701 by the end of 2026, as stated by CEO Amy Burroughs [4]