Terns Pharmaceuticals Inc. (NASDAQ:TERN) is one of 15 stocks with the biggest hedge fund momentum, after gaining 42 hedge fund holders during the fourth quarter of 2025. On February 9, Leerink Partners initiated coverage on Terns Pharmaceuticals Inc. (NASDAQ:TERN) with an Outperform rating and a price target of $58.
Leerink Partners noted that TERN-701, Terns Pharmaceuticals Inc. (NASDAQ:TERN)’s next-generation allosteric inhibitor being developed for chronic myeloid leukemia, addresses a market with established targeted therapy adoption. The firm expects a $4.8 billion opportunity for TERN-701, while forecasting an additional $1.4 billion in second-line and beyond peak revenues.
The analyst firm also said that TERN-701 builds upon the clinical and commercial success of allosteric inhibition established by Novartis’s Scemblix, which is currently on a $1.6 billion run rate as of the fourth quarter of 2025. Early Phase 1 data from the CARDINAL trial suggest TERN-701 may have a best-in-class profile, with higher molecular response rates and a clean safety profile that enables deeper and more durable target suppression, according to the research firm.
Terns Pharmaceuticals Inc. (NASDAQ:TERN) is a clinical-stage biopharmaceutical company that develops a portfolio of small-molecule single-agent and combination therapy candidates for the treatment of non-alcoholic steatohepatitis and other chronic liver diseases.
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