William Blair Reiterates a Buy on Terns Pharmaceuticals (TERN)

​Terns Pharmaceuticals, Inc. (NASDAQ:TERN) is one of the Hottest Small Cap Stocks to Buy Now. On November 11, Andy Hsieh from William Blair reiterated a Buy rating on Terns Pharmaceuticals, Inc. (NASDAQ:TERN) without disclosing any price targets.

​The rating follows the company’s fiscal third-quarter results announced on November 10. The company reported positive momentum for its CARDINAL program for its TERN-701, which is in Phase 1 trial for treating chronic myeloid leukemia. Earlier in November, Terns Pharmaceuticals, Inc. (NASDAQ:TERN) released an abstract with updated data from the ongoing Phase 1 CARDINAL trial, which showed encouraging results suggesting TERN-701 can become a best-in-disease treatment.

​Andy Hsieh of William Blair noted the initial results from the study suggest that TERN-701 has the potential to impact the chronic myeloid leukemia treatment market. Hsieh believes the drug can challenge the current market leaders, including Scemblix, for both treatment-naive and relapsed populations. Moreover, the analyst also likes the company’s financial position with $295 million in cash, expected to fund operations into 2028.

​Terns Pharmaceuticals, Inc. (NASDAQ:TERN) is a clinical-stage biopharmaceutical company developing small-molecule product candidates to treat serious diseases, including cancer and obesity.

While we acknowledge the potential of TERN to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than TERN and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.