Terns Pharma Has 35% Upside According To This Analyst, NASH Asset To Drive Valuation
Portfolio Pulse from Vandana Singh
Mizuho initiated coverage on Terns Pharmaceuticals with a Buy rating and a price target of $16, implying a 35% upside. The analyst believes TERN-501 for NASH is the company's most de-risked asset and main driver of valuation. TERN-601 for obesity is considered Terns' hottest asset, while TERN-701 for chronic myeloid leukemia is the most underappreciated.
June 22, 2023 | 6:54 pm
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POSITIVE IMPACT
Mizuho initiated coverage on Terns Pharmaceuticals with a Buy rating and a price target of $16, implying a 35% upside. TERN-501 for NASH is considered the main driver of valuation.
The Buy rating and 35% upside price target from Mizuho indicate a positive outlook for TERN. The analyst's confidence in TERN-501 for NASH as the main driver of valuation supports the positive impact on TERN's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Mizuho analyst highlights Eli Lilly's Mounjaro, which is estimated at $18 billion in 2031.
The mention of Eli Lilly's Mounjaro in the context of Terns Pharmaceuticals' TERN-601 for obesity is a neutral impact on LLY's stock price, as it is a comparison and not a direct update on the company's performance.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 50
NEUTRAL IMPACT
Mizuho analyst highlights Novo Nordisk's Wegovy, which is estimated at $13 billion in 2031.
The mention of Novo Nordisk's Wegovy in the context of Terns Pharmaceuticals' TERN-601 for obesity is a neutral impact on NVO's stock price, as it is a comparison and not a direct update on the company's performance.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 50
NEUTRAL IMPACT
Mizuho analyst notes the rapid uptake of Novartis' Scemblix, which has the same MOA as Terns Pharmaceuticals' TERN-701.
The mention of Novartis' Scemblix in the context of Terns Pharmaceuticals' TERN-701 for chronic myeloid leukemia is a neutral impact on NVS's stock price, as it is a comparison and not a direct update on the company's performance.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 50