TERN
HealthcareTerns Pharmaceuticals, Inc. · Biotechnology · $5B
What is Terns Pharmaceuticals, Inc.?
Terns Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing small-molecule therapies for NASH and obesity. It is headquartered in Foster City, California.
Terns advances a pipeline of small-molecule drug candidates targeting non-alcoholic steatohepatitis and metabolic diseases. The company generates no product revenue at this stage, funding operations through capital raises while its candidates progress through Phase I and Phase II clinical trials.
Terns Pharmaceuticals was incorporated in 2016 and is based in Foster City, California.
- TERN-101 — farnesoid X receptor agonist for NASH (Phase IIa)
- TERN-201 — vascular adhesion protein-1 inhibitor for NASH (Phase Ib)
- TERN-501 — thyroid hormone receptor beta agonist for NASH (Phase I)
- TERN-601 — oral GLP-1 receptor agonist for NASH and obesity
Is TERN a Good Stock to Buy?
UQS Score rates TERN as Poor overall, reflecting the early-stage nature of the business.
The Risk pillar comes in at Neutral, which is notable for a pre-revenue biotech — suggesting the balance sheet carries manageable near-term risk relative to peers at a similar development stage.
Quality, Moat, and Growth all score Weak, consistent with a company that has no approved products, no revenue, and an unproven competitive position. Valuation is rated Elevated.
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Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does TERN pay dividends?
No — Terns Pharmaceuticals, Inc. does not currently pay a dividend.
Terns Pharmaceuticals does not pay a dividend. As a clinical-stage company with no product revenue, available capital is directed toward advancing its pipeline through clinical trials rather than returning cash to shareholders.
When does TERN report earnings?
Terns Pharmaceuticals reports financial results on a quarterly cadence, typical for US-listed companies.
As a pre-revenue company, quarterly reports focus on pipeline progress, clinical milestones, and cash runway rather than sales or profit trends. Investors watch trial readouts closely as the primary value drivers.
For the most recent quarter's results and pipeline updates, visit Terns Pharmaceuticals' investor relations page.
TERN Price History
+208.9% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Terns Pharmaceuticals, Inc.?
Based on Terns Pharmaceuticals, Inc.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
Frequently Asked Questions
What does Terns Pharmaceuticals do?
Terns Pharmaceuticals develops small-molecule drug candidates for non-alcoholic steatohepatitis and obesity. Its pipeline includes four programs at various clinical stages, targeting different biological pathways involved in liver disease and metabolic conditions.
Does TERN pay dividends?
No. Terns Pharmaceuticals does not pay a dividend. The company is pre-revenue and reinvests all available capital into clinical development activities.
When does TERN report earnings?
Terns reports on a quarterly basis. Because the company has no product revenue, reports center on cash position and clinical progress. Check the company's investor relations page for the current reporting schedule.
Is TERN a good stock to buy?
UQS Score rates TERN as Poor across its five-pillar framework. The Risk pillar is Neutral, but Quality, Moat, and Growth are all Weak. Investors should review the full analysis before forming a view.
Is TERN overvalued?
The UQS Valuation pillar for TERN is rated Elevated, suggesting the current market price may not be well-supported by the company's fundamental profile at this stage of development.
What is TERN's market cap bracket?
Terns Pharmaceuticals is classified as a mid-cap company based on its current market capitalization.
Is TERN a long-term quality investment?
Based on UQS's long-term quality indicators, TERN scores Poor overall. Clinical-stage biotechs carry binary trial risk, and without approved products or a demonstrated moat, long-term quality signals remain weak at this time.
What sector does TERN belong to?
Terns Pharmaceuticals operates in the Healthcare sector, specifically within clinical-stage biopharmaceuticals focused on metabolic liver disease and obesity.
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Pro Analysis
TERN — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| Apr 22, 2026 | 10.7 | 0.0 | 11.0 | 4.6 | 47.1 | 0.0 | -0.3 |
| Apr 2, 2026 | 11.0 | 0.0 | 11.0 | 5.8 | 47.1 | 0.0 | — |
TERN — Pillar Breakdown
Quality
— 0.0/100 (25%)Terns Pharmaceuticals, Inc. currently shows below-average quality metrics, suggesting challenges with profitability.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Free cash flow relative to market value.
Growth
— 4.6/100 (20%)Terns Pharmaceuticals, Inc. faces growth headwinds with declining or stagnant revenue trends.
Revenue trajectory over the last twelve months.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Risk
— 47.1/100 (15%)Terns Pharmaceuticals, Inc. has some risk factors including moderate leverage or solvency concerns.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 0.0/100 (15%)Terns Pharmaceuticals, Inc. appears expensively valued relative to its fundamentals and growth prospects.
Moat
— 11/100 (25%)Terns Pharmaceuticals, Inc. operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for TERN.
Score Composition
Financial Data
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How is the TERN UQS Score Calculated?
The UQS (Unified Quality Score) for Terns Pharmaceuticals, Inc. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Terns Pharmaceuticals, Inc.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Terns Pharmaceuticals, Inc. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.