Terns Pharmaceuticals, Inc. (NASDAQ:TERN) saw a 53% surge in its stock price last week driven by positive results from its therapy candidate for chronic myeloid leukemia. The therapy, TERN-701, showed a 64% improvement in 63 enrolled patients after 24 weeks, with a 74% major molecular response rate at higher doses. The company received a 107% higher price target of $58 from Oppenheimer and successfully raised $747.5 million in fresh funds. Proceeds will go towards TERN-701 development and general corporate purposes. Analysts believe TERN has potential, but some AI stocks may offer better returns with limited risk.

Read more at Yahoo Finance: Terns Pharmaceuticals (TERN) Climbs 53% on Stellar Leukemia Treatment Trial