Terns Pharmaceuticals, Inc. (TERN) saw its stock soar 6.99% in Thursday's trading session, driven by positive analyst actions that have boosted investor confidence in the biopharmaceutical company. The significant uptick comes as Wall Street analysts reaffirm their optimistic outlook on TERN's future prospects.

Mizuho, a respected financial services firm, has reiterated its Outperform rating on Terns Pharmaceuticals while also raising its target price from $32 to $33. This increase suggests potential upside from current levels and signals strong confidence in the company's growth trajectory. Additionally, TD Cowen analyst Ritu Baral has maintained a Buy rating on TERN stock, further solidifying the positive sentiment surrounding the company.

The combination of maintained bullish ratings and an increased price target from Mizuho has served as a catalyst for the stock's impressive gains. Investors often view such actions as a vote of confidence from Wall Street analysts, leading to increased buying interest. As the market continues to digest this information, Terns Pharmaceuticals' stock is experiencing significant appreciation, reflecting the growing optimism about the company's future in the competitive biopharmaceutical landscape.