First Turn Management Acquires Stake in Terns Pharmaceuticals
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 17 2026
0mins
Should l Buy TERN?
Source: Fool
- New Investment Position: First Turn Management, LLC disclosed a new position in Terns Pharmaceuticals on February 13, 2026, acquiring 872,049 shares in an estimated $35.23 million trade, indicating strong confidence in the company's future growth potential.
- Significant Ownership: This acquisition represents 4.03% of First Turn Management's total U.S. equity holdings of $875.20 million, highlighting the firm's strategic focus on the biopharmaceutical sector and its commitment to high-growth investments.
- Outstanding Stock Performance: As of February 13, 2026, Terns Pharmaceuticals shares were priced at $37.79, reflecting an impressive 826.2% increase over the past year, significantly outperforming the S&P 500 by 814.43 percentage points, showcasing strong market validation of its product pipeline.
- Clinical Stage Advantage: Terns Pharmaceuticals is dedicated to developing small-molecule therapeutics targeting non-alcoholic steatohepatitis (NASH) and obesity, with a diversified pipeline that positions it competitively to address high unmet medical needs in metabolic disorders.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy TERN?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on TERN
Wall Street analysts forecast TERN stock price to rise
11 Analyst Rating
11 Buy
0 Hold
0 Sell
Strong Buy
Current: 52.790
Low
35.00
Averages
54.22
High
60.00
Current: 52.790
Low
35.00
Averages
54.22
High
60.00
About TERN
Terns Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company. The Company is engaged in developing a portfolio of small-molecule product candidates to address serious diseases, including oncology and obesity. Its product candidates in pipeline includes TERN-701, TERN-601 and TERN-501. TERN-701 is its oral, potent, allosteric BCR-ABL tyrosine kinase inhibitors (TKI) specifically targeting the ABL myristoyl pocket for CML, a form of cancer that begins in the bone marrow and leads to the growth of leukemic cells. TERN-601 is a small-molecule glucagon-like peptide-1 receptor (GLP-1R) agonist that is intended to be orally administered for obesity. TERN-501 is a thyroid hormone receptor beta (THR-b) agonist with high metabolic dysfunction-associated steatohepatitis (MASH). It is also focused on developing the TERN-800 series of small-molecule glucose-dependent insulinotropic polypeptide receptor (GIPR) modulators for obesity.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Merck Reports Strong Phase 3 Results for Oral PCSK9 Inhibitor
- Clinical Trial Success: On March 30, 2026, Merck announced positive results from the CORALreef AddOn trial, demonstrating that the oral PCSK9 inhibitor enlicitide reduced LDL-C levels by 64.6% when combined with statins, indicating its potential in cardiovascular disease treatment.
- High Patient Success Rate: The trial showed that 78.2% of patients achieved the LDL-C target of less than 55 mg/dL, highlighting enlicitide's effectiveness and good patient adherence, which may lay the groundwork for future market promotion.
- Strategic Acquisition: On March 25, 2026, Merck acquired clinical-stage oncology company Terns Pharmaceuticals for $6.7 billion, aiming to expand its hematology portfolio and strengthen its position in oncology, reflecting its commitment to diversification strategies.
- Stable Safety Profile: Enlicitide's safety profile remained consistent with previous trials, with no serious adverse events reported, providing confidence for its future market launch and potentially attracting more investor interest in its market performance.
See More
A Guide to Participating in the SpaceX IPO
SpaceX IPO Plans: SpaceX is anticipated to file for an initial public offering later this year, signaling a potential growth opportunity for investors.
Investor Interest: Investors are actively seeking to purchase funds that hold pre-IPO shares of SpaceX, aiming to benefit from the company's expected boom.
Caution Advised: Potential buyers are warned to exercise caution when investing in pre-IPO shares, as risks may be involved.
Elon Musk's Ventures: The interest in SpaceX is tied to Elon Musk's broader ventures in rockets, satellites, and artificial intelligence, which are seen as promising sectors.
See More
Novartis Plans $2 Billion Acquisition of Excellergy for Allergy Treatment
- Acquisition Strategy: Novartis is planning to acquire U.S.-based biotech Excellergy for up to $2 billion, aiming to enhance its allergy drug portfolio by introducing the early-stage candidate Exl-111, which is expected to outperform existing market treatments in speed and efficacy.
- Patent Expiration Response: This acquisition represents Novartis' latest bolt-on deal to counteract looming patent expirations, particularly as its best-selling drugs face generic competition, which is anticipated to positively impact future revenue streams.
- Recent Transaction Activity: Prior to the Excellergy deal, Novartis announced the acquisition of Pikavation Therapeutics for up to $3 billion to secure rights to an experimental breast cancer drug, highlighting its strategic focus on oncology.
- Market Reaction: While Novartis shares traded sideways in morning trading in Zurich, they have increased by 33% over the past year, reflecting market confidence in its acquisition strategy and future growth potential.
See More
Merck Included in 15 Dividend Stocks for Income Investment
- Rating Reaffirmed: On March 25, RBC reiterated its Outperform rating on Merck & Co., Inc. (NYSE:MRK) with a price target of $142, indicating confidence in the company's future performance despite investor disappointment over the 'modest premium' for the acquisition of Terns Pharmaceuticals.
- Acquisition Feedback Analysis: Following a conference call discussing the proposed acquisition of Terns, RBC analyst Trung Huynh noted that investor feedback was largely negative, questioning why Terns would agree to sell a high-probability asset at what was described as a 'modest premium', reflecting market caution regarding the deal.
- Capital Allocation Recognition: Despite concerns over the acquisition, investors still view Merck as a savvy capital allocator capable of effectively addressing its upcoming patent cliff, indicating that the company's strategic position in the industry remains recognized.
- Potential Competitive Threats: There is an expectation that competing bidders may emerge or that shareholders could outright reject the deal, which could impact Merck's stock performance, necessitating close monitoring of subsequent developments.
See More
Halper Sadeh LLC Investigates Multiple Companies for Potential Violations
- Shareholder Rights Investigation: Halper Sadeh LLC is investigating Terns Pharmaceuticals, Inc. (NASDAQ:TERN) regarding its sale to Merck for $53.00 per share, which may involve potential violations of shareholder rights, prompting shareholders to understand their rights and options.
- Merger Transaction Review: The merger between Corebridge Financial, Inc. (NYSE:CRBG) and Equitable Holdings, Inc. will result in Corebridge shareholders owning approximately 51% of the combined entity, with the law firm potentially seeking increased compensation and disclosures for shareholders.
- Equitable Shareholder Rights: Equitable Holdings, Inc. (NYSE:EQH) shareholders will own about 49% of the combined company post-merger with Corebridge, and Halper Sadeh LLC encourages shareholders to learn about their legal rights and options to protect their interests.
- Legal Service Commitment: The firm commits to providing legal services on a contingency fee basis, ensuring affected investors can seek legal remedies without upfront financial burdens.
See More
Merck's Acquisition Sparks Interest in Blood Cancer Drug Market
- Acquisition Premium Analysis: Merck's acquisition of Terns at $53 per share represents a 42% premium, which not only strengthens its blood cancer pipeline but also raises market interest in Sellas, potentially driving up its valuation.
- Investor Sentiment Shift: Following the Merck deal, retail investors are increasingly viewing Pfizer as a potential acquirer of Sellas, reflecting a growing interest in blood cancer drugs and potential M&A opportunities in the sector.
- Clinical Trial Progress: Sellas' Phase 3 Regal trial has recorded 72 death events in AML patients, nearing the 80 required for final analysis, showcasing the clinical potential of its product and likely attracting more investor attention.
- Market Valuation Expectations: Retail investors estimate that Sellas' lead AML candidate, Galinpepimut-S, could be valued between $33.5 billion and $53.6 billion based on projected revenues, indicating optimistic market expectations for its future earnings and further driving demand for its stock.
See More
Merck Reports Strong Phase 3 Results for Oral PCSK9 Inhibitor
- Clinical Trial Success: On March 30, 2026, Merck announced positive results from the CORALreef AddOn trial, demonstrating that the oral PCSK9 inhibitor enlicitide reduced LDL-C levels by 64.6% when combined with statins, indicating its potential in cardiovascular disease treatment.
- High Patient Success Rate: The trial showed that 78.2% of patients achieved the LDL-C target of less than 55 mg/dL, highlighting enlicitide's effectiveness and good patient adherence, which may lay the groundwork for future market promotion.
- Strategic Acquisition: On March 25, 2026, Merck acquired clinical-stage oncology company Terns Pharmaceuticals for $6.7 billion, aiming to expand its hematology portfolio and strengthen its position in oncology, reflecting its commitment to diversification strategies.
- Stable Safety Profile: Enlicitide's safety profile remained consistent with previous trials, with no serious adverse events reported, providing confidence for its future market launch and potentially attracting more investor interest in its market performance.
See More
A Guide to Participating in the SpaceX IPO
SpaceX IPO Plans: SpaceX is anticipated to file for an initial public offering later this year, signaling a potential growth opportunity for investors.
Investor Interest: Investors are actively seeking to purchase funds that hold pre-IPO shares of SpaceX, aiming to benefit from the company's expected boom.
Caution Advised: Potential buyers are warned to exercise caution when investing in pre-IPO shares, as risks may be involved.
Elon Musk's Ventures: The interest in SpaceX is tied to Elon Musk's broader ventures in rockets, satellites, and artificial intelligence, which are seen as promising sectors.
See More
Novartis Plans $2 Billion Acquisition of Excellergy for Allergy Treatment
- Acquisition Strategy: Novartis is planning to acquire U.S.-based biotech Excellergy for up to $2 billion, aiming to enhance its allergy drug portfolio by introducing the early-stage candidate Exl-111, which is expected to outperform existing market treatments in speed and efficacy.
- Patent Expiration Response: This acquisition represents Novartis' latest bolt-on deal to counteract looming patent expirations, particularly as its best-selling drugs face generic competition, which is anticipated to positively impact future revenue streams.
- Recent Transaction Activity: Prior to the Excellergy deal, Novartis announced the acquisition of Pikavation Therapeutics for up to $3 billion to secure rights to an experimental breast cancer drug, highlighting its strategic focus on oncology.
- Market Reaction: While Novartis shares traded sideways in morning trading in Zurich, they have increased by 33% over the past year, reflecting market confidence in its acquisition strategy and future growth potential.
See More
Merck Included in 15 Dividend Stocks for Income Investment
- Rating Reaffirmed: On March 25, RBC reiterated its Outperform rating on Merck & Co., Inc. (NYSE:MRK) with a price target of $142, indicating confidence in the company's future performance despite investor disappointment over the 'modest premium' for the acquisition of Terns Pharmaceuticals.
- Acquisition Feedback Analysis: Following a conference call discussing the proposed acquisition of Terns, RBC analyst Trung Huynh noted that investor feedback was largely negative, questioning why Terns would agree to sell a high-probability asset at what was described as a 'modest premium', reflecting market caution regarding the deal.
- Capital Allocation Recognition: Despite concerns over the acquisition, investors still view Merck as a savvy capital allocator capable of effectively addressing its upcoming patent cliff, indicating that the company's strategic position in the industry remains recognized.
- Potential Competitive Threats: There is an expectation that competing bidders may emerge or that shareholders could outright reject the deal, which could impact Merck's stock performance, necessitating close monitoring of subsequent developments.
See More
Halper Sadeh LLC Investigates Multiple Companies for Potential Violations
- Shareholder Rights Investigation: Halper Sadeh LLC is investigating Terns Pharmaceuticals, Inc. (NASDAQ:TERN) regarding its sale to Merck for $53.00 per share, which may involve potential violations of shareholder rights, prompting shareholders to understand their rights and options.
- Merger Transaction Review: The merger between Corebridge Financial, Inc. (NYSE:CRBG) and Equitable Holdings, Inc. will result in Corebridge shareholders owning approximately 51% of the combined entity, with the law firm potentially seeking increased compensation and disclosures for shareholders.
- Equitable Shareholder Rights: Equitable Holdings, Inc. (NYSE:EQH) shareholders will own about 49% of the combined company post-merger with Corebridge, and Halper Sadeh LLC encourages shareholders to learn about their legal rights and options to protect their interests.
- Legal Service Commitment: The firm commits to providing legal services on a contingency fee basis, ensuring affected investors can seek legal remedies without upfront financial burdens.
See More
Merck's Acquisition Sparks Interest in Blood Cancer Drug Market
- Acquisition Premium Analysis: Merck's acquisition of Terns at $53 per share represents a 42% premium, which not only strengthens its blood cancer pipeline but also raises market interest in Sellas, potentially driving up its valuation.
- Investor Sentiment Shift: Following the Merck deal, retail investors are increasingly viewing Pfizer as a potential acquirer of Sellas, reflecting a growing interest in blood cancer drugs and potential M&A opportunities in the sector.
- Clinical Trial Progress: Sellas' Phase 3 Regal trial has recorded 72 death events in AML patients, nearing the 80 required for final analysis, showcasing the clinical potential of its product and likely attracting more investor attention.
- Market Valuation Expectations: Retail investors estimate that Sellas' lead AML candidate, Galinpepimut-S, could be valued between $33.5 billion and $53.6 billion based on projected revenues, indicating optimistic market expectations for its future earnings and further driving demand for its stock.
See More
