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

Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) have been given a consensus recommendation of “Moderate Buy” by the five ratings firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $30.70.

Several research analysts recently weighed in on TERN shares. JMP Securities lifted 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 note on Tuesday, September 10th. HC Wainwright lifted their price objective on shares of Terns Pharmaceuticals from $5.50 to $7.50 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Oppenheimer started coverage on shares of Terns Pharmaceuticals in a research note on Thursday, October 31st. They set an “outperform” rating and a $82.00 price objective on the stock. Finally, BMO Capital Markets reissued an “outperform” rating and set a $26.00 price objective (up previously from $19.00) on shares of Terns Pharmaceuticals in a research note on Monday, September 16th.

Insider Buying and Selling at Terns Pharmaceuticals

In related news, Director Hongbo Lu purchased 476,190 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were purchased at an average price of $10.50 per share, with a total value of $4,999,995.00. Following the completion of the purchase, the director now owns 476,190 shares in the company, valued at $4,999,995. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $150,000. The trade was a 53.47 % decrease in their position. The disclosure for this sale can be found here. Insiders own 15.10% of the company’s stock.

Institutional Trading of Terns Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Asset Management L.P. raised its holdings in shares of Terns Pharmaceuticals by 0.6% in the third quarter. Point72 Asset Management L.P. now owns 2,707,515 shares of the company’s stock valued at $22,581,000 after purchasing an additional 17,139 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Terns Pharmaceuticals by 0.5% in the first quarter. Vanguard Group Inc. now owns 2,199,006 shares of the company’s stock valued at $14,425,000 after purchasing an additional 11,535 shares during the last quarter. Janus Henderson Group PLC raised 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 valued at $13,131,000 after purchasing an additional 578,500 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Terns Pharmaceuticals by 7.6% in the third quarter. Geode Capital Management LLC now owns 1,207,479 shares of the company’s stock valued at $10,072,000 after purchasing an additional 85,617 shares during the last quarter. Finally, Bellevue Group AG acquired a new stake in shares of Terns Pharmaceuticals in the third quarter valued at approximately $8,691,000. 98.26% of the stock is currently owned by institutional investors and hedge funds.

Terns Pharmaceuticals Price Performance

Shares of NASDAQ:TERN opened at $6.24 on Monday. Terns Pharmaceuticals has a one year low of $4.19 and a one year high of $11.40. The company has a 50 day moving average of $7.24 and a 200-day moving average of $7.49. The stock has a market cap of $530.03 million, a price-to-earnings ratio of -5.29 and a beta of -0.32.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.05. Equities research analysts anticipate that Terns Pharmaceuticals will post -1.22 earnings per share for the current year.

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.