Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Receives Average Recommendation of “Moderate Buy” from Analysts

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) has earned a consensus rating of “Moderate Buy” from the five analysts that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $30.70.

A number of equities analysts recently weighed in on the stock. HC Wainwright boosted their target price on shares of Terns Pharmaceuticals from $5.50 to $7.50 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Oppenheimer assumed coverage on shares of Terns Pharmaceuticals in a report on Thursday, October 31st. They set an “outperform” rating and a $82.00 target price on the stock. BMO Capital Markets restated an “outperform” rating and set a $26.00 target price (up from $19.00) on shares of Terns Pharmaceuticals in a report on Monday, September 16th. Finally, JMP Securities boosted their target price 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.

Insider Buying and Selling at Terns Pharmaceuticals

In other news, CFO Mark J. Vignola sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $11.00, for a total value of $110,000.00. Following the completion of the sale, the chief financial officer now owns 91,940 shares of the company’s stock, valued at approximately $1,011,340. The trade was a 9.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jill M. Quigley sold 17,235 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $10.00, for a total transaction of $172,350.00. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $150,000. The trade was a 53.47 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 15.10% of the company’s stock.

Institutional Investors Weigh In On Terns Pharmaceuticals

A number of institutional investors have recently modified their holdings of TERN. Bellevue Group AG bought a new stake in shares of Terns Pharmaceuticals in the third quarter valued at about $8,691,000. Janus Henderson Group PLC lifted its holdings in shares of Terns Pharmaceuticals by 40.6% in the first quarter. Janus Henderson Group PLC now owns 2,003,263 shares of the company’s stock worth $13,131,000 after acquiring an additional 578,500 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Terns Pharmaceuticals by 21.1% in the second quarter. Point72 Asset Management L.P. now owns 2,690,376 shares of the company’s stock worth $18,321,000 after acquiring an additional 469,176 shares during the last quarter. Salem Investment Counselors Inc. bought a new position in shares of Terns Pharmaceuticals in the second quarter worth about $2,531,000. Finally, Telemark Asset Management LLC acquired a new position in shares of Terns Pharmaceuticals in the third quarter valued at approximately $2,502,000. Institutional investors own 98.26% of the company’s stock.

Terns Pharmaceuticals Stock Down 1.6 %

NASDAQ TERN opened at $6.24 on Monday. The company has a market capitalization of $530.03 million, a PE ratio of -5.29 and a beta of -0.32. Terns Pharmaceuticals has a 12-month low of $4.19 and a 12-month high of $11.40. The firm’s 50 day moving average is $7.24 and its 200-day moving average is $7.49.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its earnings results on Tuesday, November 12th. The company reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.05. As a group, sell-side analysts expect that Terns Pharmaceuticals will post -1.22 EPS for the current year.

About Terns Pharmaceuticals

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.