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Terns Pharmaceuticals Inc. shares have reached a 52-week low, trading at $2.5, marking a significant downturn for the company within the past year. According to InvestingPro data, the stock’s technical indicators suggest oversold conditions, while the company maintains a strong balance sheet with more cash than debt. This latest price level reflects a stark contrast to the stock’s performance over the last 12 months, with Terns Pharmaceuticals experiencing a substantial decline of 57.58% in its year-over-year change. With a market capitalization of $221.3 million and a beta of -0.31, the stock typically moves counter to market trends. Investors are closely monitoring the stock as it navigates through this challenging period, looking for signs of stabilization or potential catalysts that could influence the company’s future trajectory. InvestingPro analysis indicates the stock may be undervalued at current levels, with two analysts recently revising earnings estimates upward.
In other recent news, Terns Pharmaceuticals has announced significant updates in its clinical trials and leadership team. The company reported progress in its CARDINAL study for TERN-701, an oral treatment for chronic myeloid leukemia, with promising interim data indicating strong molecular responses and a favorable safety profile. The dose expansion phase is set to begin in the second quarter of 2025, with further data expected later that year. Additionally, Terns plans to start the Phase 2 FALCON trial for TERN-601, targeting obesity, in early 2025, with results anticipated in the second half of the year.
In leadership developments, Terns Pharmaceuticals appointed Andrew Gengos as the new Chief Financial Officer, bringing extensive experience from his previous roles in the life sciences sector. This appointment follows the departure of former CFO Mark Vignola, who will continue as a consultant for the company through mid-2025. CEO Amy Burroughs has temporarily assumed the role of interim principal financial officer.
Furthermore, Oppenheimer analysts have maintained an Outperform rating for Terns Pharmaceuticals, setting a price target of $20. They highlighted the upcoming data releases for TERN-701 and TERN-601 as crucial catalysts for the company’s growth. The analysts expressed optimism about the company’s progress in its oncology and obesity programs, considering Terns Pharmaceuticals to be undervalued in light of its approaching milestones.
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