Terns Pharmaceuticals (NASDAQ:TERN) Now Covered by Analysts at Oppenheimer

Oppenheimer initiated coverage on shares of Terns Pharmaceuticals (NASDAQ:TERN) in a research report report published on Thursday, Marketbeat.com reports. The brokerage issued an outperform rating and a $82.00 price objective on the stock.

Several other research firms have also recently weighed in on TERN. BMO Capital Markets restated an “outperform” rating and issued a $26.00 price objective (up from $19.00) on shares of Terns Pharmaceuticals in a research report on Monday, September 16th. JMP Securities increased their price target on shares of Terns Pharmaceuticals from $15.00 to $20.00 and gave the stock a “market outperform” rating in a report on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $26.92.

Terns Pharmaceuticals Price Performance

TERN opened at $6.94 on Thursday. The firm has a market capitalization of $488.13 million, a P/E ratio of -5.26 and a beta of -0.32. Terns Pharmaceuticals has a one year low of $3.26 and a one year high of $11.40. The company has a fifty day moving average price of $8.16 and a 200-day moving average price of $7.32.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its earnings results on Monday, August 5th. The company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.04. On average, analysts expect that Terns Pharmaceuticals will post -1.31 earnings per share for the current year.

Insiders Place Their Bets

In other Terns Pharmaceuticals news, Director Jill M. Quigley sold 17,235 shares of Terns Pharmaceuticals stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $10.00, for a total transaction of $172,350.00. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $150,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Jill M. Quigley sold 17,235 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $10.00, for a total transaction of $172,350.00. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $150,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark J. Vignola sold 10,000 shares of Terns Pharmaceuticals stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $11.00, for a total value of $110,000.00. Following the completion of the transaction, the chief financial officer now owns 91,940 shares in the company, valued at approximately $1,011,340. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 15.10% of the stock is owned by insiders.

Institutional Trading of Terns Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its holdings in Terns Pharmaceuticals by 12.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,694 shares of the company’s stock valued at $136,000 after buying an additional 2,261 shares during the last quarter. Bleakley Financial Group LLC raised its stake in shares of Terns Pharmaceuticals by 26.0% during the third quarter. Bleakley Financial Group LLC now owns 13,312 shares of the company’s stock valued at $111,000 after acquiring an additional 2,751 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Terns Pharmaceuticals by 28.7% during the second quarter. The Manufacturers Life Insurance Company now owns 22,645 shares of the company’s stock worth $154,000 after purchasing an additional 5,049 shares during the period. Creative Planning grew its stake in shares of Terns Pharmaceuticals by 27.2% in the third quarter. Creative Planning now owns 25,310 shares of the company’s stock worth $211,000 after purchasing an additional 5,409 shares during the last quarter. Finally, nVerses Capital LLC purchased a new position in Terns Pharmaceuticals during the 3rd quarter valued at about $48,000. Hedge funds and other institutional investors own 98.26% of the company’s stock.

Terns Pharmaceuticals Company Profile

Terns Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops small-molecule product candidates for the treatment of oncology, metabolic dysfunction-associated steatohepatitis (MASH), and obesity. The company develops TERN-701, an allosteric BCR-ABL tyrosine kinase inhibitor (TKI) that is in phase 1 clinical trial for chronic myeloid leukemia (CML), a form of cancer that starts in bone marrow.