Terns Pharmaceuticals Is "Attractively Priced" Despite Pressure From Eli Lilly's Obesity Data, Analyst Says
Portfolio Pulse from Vandana Singh
Terns Pharmaceuticals Inc (TERN) shares lost over 25% of their value due to investor pressure following Eli Lilly And Co's (LLY) announcement of positive obesity data from retatrutide. Despite this, JMP Securities maintains that TERN shares are attractively priced ahead of 3Q23 key NASH data, reiterating its Market Outperform rating and a price target of $17. Other companies in the space, Madrigal Pharmaceuticals Inc (MDGL) and Viking Therapeutics Inc (VKTX), also saw their shares drop. Merck Co & Inc's (MRK) efinopegdutide data showed a 73% reduction in liver fat.
June 28, 2023 | 6:53 pm
News sentiment analysis
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NEGATIVE IMPACT
Madrigal Pharmaceuticals saw a drop in their shares following Eli Lilly's announcement of positive obesity data.
The announcement of positive obesity data from Eli Lilly's retatrutide has put pressure on Madrigal Pharmaceuticals, causing a drop in their share price. This indicates the competitive nature of the industry and the potential impact of Eli Lilly's developments.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
Terns Pharmaceuticals shares lost over 25% of their value due to Eli Lilly's obesity data, but are still considered attractively priced by JMP Securities.
The announcement of positive obesity data from Eli Lilly's retatrutide put pressure on Terns Pharmaceuticals, causing a significant drop in their share price. However, JMP Securities maintains a positive outlook for the company, considering its shares attractively priced.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Viking Therapeutics saw a drop in their shares following Eli Lilly's announcement of positive obesity data.
The announcement of positive obesity data from Eli Lilly's retatrutide has put pressure on Viking Therapeutics, causing a drop in their share price. This indicates the competitive nature of the industry and the potential impact of Eli Lilly's developments.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
NEUTRAL IMPACT
Merck's efinopegdutide data showed a 73% reduction in liver fat, pointing to potential NASH competition.
Merck's efinopegdutide data, which showed a significant reduction in liver fat, points to potential competition in the NASH space. However, the impact on the company's share price is not clear at this point.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
Eli Lilly's announcement of positive obesity data from retatrutide led to a drop in shares of Terns Pharmaceuticals and other companies in the space.
Eli Lilly's positive obesity data announcement has put pressure on other companies in the space, causing a drop in their share prices. This indicates the competitive nature of the industry and the potential impact of Eli Lilly's developments.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80