Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) have received an average rating of “Moderate Buy” from the six ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $26.92.

TERN has been the subject of several recent analyst reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $26.00 price objective (up previously from $19.00) on shares of Terns Pharmaceuticals in a research report on Monday, September 16th. Oppenheimer initiated coverage on shares of Terns Pharmaceuticals in a research report on Thursday, October 31st. They set an “outperform” rating and a $82.00 price objective for the company. Finally, JMP Securities raised their price objective on shares of Terns Pharmaceuticals from $15.00 to $20.00 and gave the stock a “market outperform” rating in a research report on Tuesday, September 10th.

Insider Activity at Terns Pharmaceuticals

In other Terns Pharmaceuticals 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 approximately $1,011,340. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Terns Pharmaceuticals 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 approximately $1,011,340. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jill M. Quigley sold 17,235 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were 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 approximately $150,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Terns Pharmaceuticals

A number of hedge funds have recently made changes to their positions in TERN. Russell Investments Group Ltd. raised its stake in shares of Terns Pharmaceuticals by 127.9% during the 1st quarter. Russell Investments Group Ltd. now owns 632,965 shares of the company’s stock worth $4,152,000 after purchasing an additional 355,224 shares during the period. Vanguard Group Inc. raised its stake in shares of Terns Pharmaceuticals by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 2,199,006 shares of the company’s stock worth $14,425,000 after purchasing an additional 11,535 shares during the period. Affinity Asset Advisors LLC raised its stake in shares of Terns Pharmaceuticals by 581.8% during the 1st quarter. Affinity Asset Advisors LLC now owns 450,000 shares of the company’s stock worth $2,952,000 after purchasing an additional 384,000 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Terns Pharmaceuticals by 12.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,694 shares of the company’s stock valued at $136,000 after acquiring an additional 2,261 shares during the period. Finally, Kennedy Capital Management LLC bought a new stake in Terns Pharmaceuticals in the 1st quarter valued at about $101,000. 98.26% of the stock is currently owned by institutional investors.

Terns Pharmaceuticals Stock Performance

NASDAQ:TERN opened at $7.10 on Thursday. The company has a market capitalization of $499.39 million, a PE ratio of -5.38 and a beta of -0.32. Terns Pharmaceuticals has a fifty-two week low of $3.26 and a fifty-two week high of $11.40. The company has a 50 day simple moving average of $8.14 and a two-hundred day simple moving average of $7.36.

Terns Pharmaceuticals (NASDAQ:TERN) last announced its quarterly earnings data on Monday, August 5th. The company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.04. Research analysts predict that Terns Pharmaceuticals will post -1.31 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.