Terns Pharmaceuticals Prices Upsized Offering of 16.25 Million Shares at $40 Each, Raising $650 Million
Written by Emily J. Thompson, Senior Investment Analyst
Source: Globenewswire
Updated: 1 hour ago0mins
- Upsized Offering: Terns Pharmaceuticals announced the pricing of 16.25 million shares at $40 each, raising approximately $650 million, which will significantly bolster funding for research and clinical trials.
- Future Development Funding: The proceeds will be allocated to the research, clinical trials, and manufacturing preparations for key product candidate TERN-701, aiming to lay the groundwork for its potential commercial launch and enhance the company's market competitiveness.
- Underwriter Selection: Jefferies, TD Cowen, and Leerink Partners are acting as lead underwriters for this offering, reflecting strong market confidence in Terns while providing professional capital market support to the company.
- Compliance Registration: The securities offered have been registered with the SEC, ensuring compliance and providing transparent disclosures to investors, which further enhances investor trust in the offering.
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Analyst Views on TERN
Wall Street analysts forecast TERN stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for TERN is 25.00 USD with a low forecast of 15.00 USD and a high forecast of 35.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
12 Analyst Rating
12 Buy
0 Hold
0 Sell
Strong Buy
Current: 40.230
Low
15.00
Averages
25.00
High
35.00
Current: 40.230
Low
15.00
Averages
25.00
High
35.00
Barclays
Etzer Darout
Overweight
maintain
$36 -> $56
2025-12-09
New
Reason
Barclays
Etzer Darout
Price Target
$36 -> $56
2025-12-09
New
maintain
Overweight
Reason
Barclays analyst Etzer Darout raised the firm's price target on Terns Pharmaceuticals to $56 from $36 and keeps an Overweight rating on the shares. The TERN-701 update supports the stock's valuation update and shows a potential best-in-class" efficacy and safety profile, the analyst tells investors in a research note. The firm says treatment duration is still an important lever that longer term follow up will help refine.
H.C. Wainwright
Buy
maintain
$20 -> $60
2025-12-09
New
Reason
H.C. Wainwright
Price Target
$20 -> $60
2025-12-09
New
maintain
Buy
Reason
H.C. Wainwright raised the firm's price target on Terns Pharmaceuticals to $60 from $20 and keeps a Buy rating on the shares. The firm says the updated Phase 1 CARDINAL data for TERN-701 reinforced that its emerging efficacy profile materially exceeds what is achievable with current BCR ABL1 inhibitors.
Mizuho
Outperform
maintain
$33 -> $54
2025-12-09
New
Reason
Mizuho
Price Target
$33 -> $54
2025-12-09
New
maintain
Outperform
Reason
Mizuho raised the firm's price target on Terns Pharmaceuticals to $54 from $33 and keeps an Outperform rating on the shares. The firm says the company's TERN-701 update far exceeded its expectations. Terns reported an "outstanding" 64% achieved a molecular response rate at six months, the analyst tells investors in a research note. Mizuho thinks TERN-701 has emerged as a "clear potential best-in-disease treatment" for chronic myeloid leukemia.
Citizens JMP
Outperform
maintain
$25 -> $35
2025-11-26
Reason
Citizens JMP
Price Target
$25 -> $35
2025-11-26
maintain
Outperform
Reason
Citizens JMP raised the firm's price target on Terns Pharmaceuticals to $35 from $25 and keeps an Outperform rating on the shares. Terns's ASH abstract showed that TERN-701 delivered an unprecedented 24-week major molecular response rate in 2L+ relapsed/refractory chronic myeloid leukemia, outperforming other Phase 1 CML therapies in efficacy and tolerability, the analyst tells investors in a research note. Feedback from key opinion leaders suggests the drug is on a best-in-class trajectory with real potential to move into the front-line setting, the firm says.
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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
Preview
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.
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