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Terns Pharmaceuticals Inc. shares have tumbled to a 52-week low, touching down at $3.54, as market headwinds continue to challenge the biotech sector. The company, which specializes in developing innovative therapies for liver disease and cancer, has seen its stock price halve over the past year, with a stark 1-year change showing a decline of 51.21%. According to InvestingPro analysis, the stock appears undervalued, with analysts setting price targets ranging from $7.50 to $34. This significant drop reflects investor concerns over drug development risks and a potentially cooling market for biotech investments. With a beta of -0.36, the stock tends to move contrary to broader market trends. InvestingPro data reveals 10+ additional insights about TERN’s market performance and financial health. Despite the downturn, Terns Pharmaceuticals remains focused on advancing its clinical programs and delivering on its long-term value proposition to shareholders. The company maintains a strong balance sheet with more cash than debt, and a current ratio of 32.99, indicating robust liquidity. With a market capitalization of $308 million, TERN receives a "Fair" overall financial health score from InvestingPro’s comprehensive analysis.
In other recent news, Terns Pharmaceuticals has made significant strides in its clinical development programs. The company announced promising interim data from its Phase 1 CARDINAL study of TERN-701, an oral treatment for Chronic Myeloid Leukemia (CML), which demonstrated improved safety and efficacy over existing treatments. Terns Pharmaceuticals is set to release more comprehensive data in the fourth quarter of 2025. Additionally, Terns is preparing to launch the Phase 2 FALCON trial for TERN-601, targeting obesity, with initial results expected in the latter half of 2025.
In corporate developments, Terns appointed Andrew Gengos as the new Chief Financial Officer, bringing over 25 years of experience in the life sciences sector. This follows the transition of former CFO Mark Vignola to a consulting role. Moreover, Oppenheimer maintained an Outperform rating on Terns Pharmaceuticals, raising the price target to $20.00 based on the positive trial data from TERN-701.
The company’s financial position remains strong, with cash reserves projected to support operations into 2028. Terns Pharmaceuticals continues to explore opportunities in metabolic diseases and obesity, with ongoing discovery efforts on GIPR modulators. The leadership team is scheduled to present at the TD Cowen 45th Annual Healthcare Conference, highlighting these recent advancements.
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