Terns Pharmaceuticals (NASDAQ:TERN) Price Target Raised to $20.00 at Oppenheimer

Terns Pharmaceuticals (NASDAQ:TERN) had its target price hoisted by Oppenheimer from $17.00 to $20.00 in a research note released on Wednesday,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities analysts have also recently weighed in on TERN. HC Wainwright restated a “neutral” rating and issued a $7.50 price target on shares of Terns Pharmaceuticals in a report on Wednesday. JMP Securities increased their target price on Terns Pharmaceuticals from $15.00 to $20.00 and gave the company a “market outperform” rating in a research note on Tuesday, September 10th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $26.00 target price (up from $19.00) on shares of Terns Pharmaceuticals in a research note on Monday, September 16th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.30.

Terns Pharmaceuticals Stock Up 11.3 %

NASDAQ TERN opened at $7.08 on Wednesday. The stock has a market cap of $601.38 million, a PE ratio of -6.00 and a beta of -0.36. Terns Pharmaceuticals has a fifty-two week low of $4.32 and a fifty-two week high of $11.40. The business has a 50 day moving average price of $7.06 and a two-hundred day moving average price of $7.51.

Terns Pharmaceuticals (NASDAQ:TERN) last released its quarterly 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. Sell-side analysts anticipate that Terns Pharmaceuticals will post -1.22 EPS for the current fiscal year.

Insider Activity

In related news, CFO Mark J. Vignola sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $11.00, for a total transaction of $110,000.00. Following the transaction, the chief financial officer now directly owns 91,940 shares in the company, valued at $1,011,340. This trade represents a 9.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jill M. Quigley sold 17,235 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $10.00, for a total value of $172,350.00. Following the transaction, the director now owns 15,000 shares in the company, valued at $150,000. This trade represents a 53.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 15.10% of the company’s stock.

Hedge Funds Weigh In On Terns Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. nVerses Capital LLC bought a new position in Terns Pharmaceuticals during the third quarter worth $48,000. Sio Capital Management LLC bought a new position in Terns Pharmaceuticals during the third quarter worth $83,000. Simplicity Wealth LLC acquired a new stake in Terns Pharmaceuticals in the second quarter worth $72,000. Entropy Technologies LP acquired a new stake in Terns Pharmaceuticals in the third quarter worth $106,000. Finally, Bleakley Financial Group LLC increased its position in Terns Pharmaceuticals by 26.0% in the third quarter. Bleakley Financial Group LLC now owns 13,312 shares of the company’s stock worth $111,000 after buying an additional 2,751 shares during the period. 98.26% of the stock is currently owned by institutional investors.

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.