Terns Pharmaceuticals (NASDAQ:TERN) Given New $7.50 Price Target at HC Wainwright

Terns Pharmaceuticals (NASDAQ:TERN) had its target price increased by HC Wainwright from $5.50 to $7.50 in a report released on Wednesday morning,Benzinga reports. HC Wainwright currently has a neutral rating on the stock. HC Wainwright also issued estimates for Terns Pharmaceuticals’ Q4 2024 earnings at ($0.28) EPS, FY2024 earnings at ($1.17) EPS, Q1 2025 earnings at ($0.30) EPS, Q2 2025 earnings at ($0.33) EPS, Q3 2025 earnings at ($0.37) EPS, Q4 2025 earnings at ($0.40) EPS, FY2025 earnings at ($1.41) EPS, FY2026 earnings at ($1.46) EPS, FY2027 earnings at ($1.58) EPS and FY2028 earnings at ($0.64) EPS.

A number of other analysts have also commented on TERN. Oppenheimer began coverage on Terns Pharmaceuticals in a report on Thursday, October 31st. They set an “outperform” rating and a $82.00 price objective for the company. JMP Securities upped their price target on Terns Pharmaceuticals from $15.00 to $20.00 and gave the stock a “market outperform” rating in a report on Tuesday, September 10th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $26.00 price target (up from $19.00) on shares of Terns Pharmaceuticals in a research report on Monday, September 16th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Terns Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $27.25.

Terns Pharmaceuticals Trading Down 5.8 %

Shares of TERN opened at $6.17 on Wednesday. The business’s fifty day moving average is $8.03 and its 200 day moving average is $7.48. Terns Pharmaceuticals has a 12-month low of $3.59 and a 12-month high of $11.40.

Terns Pharmaceuticals (NASDAQ:TERN) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.05. On average, equities research analysts expect that Terns Pharmaceuticals will post -1.24 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Mark J. Vignola sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $11.00, for a total transaction of $110,000.00. Following the completion of the sale, the chief financial officer now owns 91,940 shares in the company, valued at $1,011,340. This trade represents a 9.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Hongbo Lu acquired 476,190 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was purchased at an average price of $10.50 per share, for a total transaction of $4,999,995.00. Following the purchase, the director now owns 476,190 shares of the company’s stock, valued at $4,999,995. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 15.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. nVerses Capital LLC purchased a new stake in Terns Pharmaceuticals during the third quarter valued at about $48,000. Simplicity Wealth LLC purchased a new stake in shares of Terns Pharmaceuticals during the 2nd quarter valued at approximately $72,000. Sio Capital Management LLC bought a new position in Terns Pharmaceuticals in the 3rd quarter worth approximately $83,000. Walleye Trading LLC purchased a new position in Terns Pharmaceuticals in the 1st quarter valued at approximately $98,000. Finally, Kennedy Capital Management LLC bought a new stake in Terns Pharmaceuticals during the 1st quarter valued at $101,000. 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.