U.S. markets close in 46 minutes
  • S&P 500

    3,636.58
    -107.94 (-2.88%)
     
  • Dow 30

    29,247.72
    -679.22 (-2.27%)
     
  • Nasdaq

    10,660.61
    -412.70 (-3.73%)
     
  • Russell 2000

    1,704.44
    -48.07 (-2.74%)
     
  • Crude Oil

    93.07
    +4.62 (+5.22%)
     
  • Gold

    1,703.00
    -17.80 (-1.03%)
     
  • Silver

    20.12
    -0.54 (-2.61%)
     
  • EUR/USD

    0.9735
    -0.0060 (-0.61%)
     
  • 10-Yr Bond

    3.8830
    +0.0570 (+1.49%)
     
  • GBP/USD

    1.1071
    -0.0097 (-0.87%)
     
  • USD/JPY

    145.3950
    +0.3270 (+0.23%)
     
  • BTC-USD

    19,471.58
    -546.41 (-2.73%)
     
  • CMC Crypto 200

    444.21
    -10.82 (-2.38%)
     
  • FTSE 100

    6,991.09
    -6.18 (-0.09%)
     
  • Nikkei 225

    27,116.11
    -195.19 (-0.71%)
     

Analyst Outlines Doubts On This NASH-Focused Stock, Builds Neutral Case

·1 min read
  • HC Wainwright initiated Terns Pharmaceutical Inc (NASDAQ: TERN) with a Neutral rating and a price target of $6.00. The biopharmaceutical company has a portfolio of small molecule programs for NASH and obesity.

  • The analyst says the Phase 2a DUET study of oral TERN-501 in Noncirrhotic Adults with NASH "lacks sufficient supporting evidence," while the rest of the company's pipeline "is too early."

  • Terns' recent clinical track record has been disappointing, Arce tells investors.

  • The analyst notes some recent data as underwhelming, including the Phase 2a LIFT study of TERN-101 reported last year and Part 1 of the Phase 1b AVIATION study of TERN-201 10mg reported in March.

  • Although top-line results from AVIATION Part 2 (20mg) are expected in 2H22, we do not expect the company to pursue further development with TERN-201, says the analyst.

  • DUET study dosing started in July, and top-line data is expected in 2H23. While acknowledging the pipeline potential, more data is needed to be more constructive. The DUET readout is unlikely to represent a significant stock catalyst.

  • Price Action: TERN shares are up 13.50% at $5.98 on the last check Monday.

Latest Ratings for TERN

Date

Firm

Action

From

To

Mar 2021

JP Morgan

Initiates Coverage On

Overweight

Mar 2021

Cowen & Co.

Initiates Coverage On

Outperform

Mar 2021

Goldman Sachs

Initiates Coverage On

Buy

View More Analyst Ratings for TERN

View the Latest Analyst Ratings

See more from Benzinga

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.