Analysts Set Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Target Price at $18.30

Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) have been given an average recommendation of “Moderate Buy” by the five research firms that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $18.38.

Several brokerages have weighed in on TERN. William Blair reaffirmed a “market perform” rating on shares of Terns Pharmaceuticals in a research note on Friday, March 21st. HC Wainwright restated a “neutral” rating and set a $7.50 price target on shares of Terns Pharmaceuticals in a research report on Wednesday, December 4th. JMP Securities reiterated a “market outperform” rating and issued a $20.00 price objective on shares of Terns Pharmaceuticals in a research report on Wednesday, December 4th. Finally, Oppenheimer increased their target price on Terns Pharmaceuticals from $17.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th.

Insider Buying and Selling

In related news, CFO Mark J. Vignola sold 9,059 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $5.80, for a total value of $52,542.20. Following the transaction, the chief financial officer now owns 74,752 shares in the company, valued at $433,561.60. This trade represents a 10.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Emil Kuriakose sold 4,481 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $5.71, for a total value of $25,586.51. Following the sale, the insider now directly owns 54,269 shares of the company’s stock, valued at $309,875.99. This represents a 7.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,669 shares of company stock worth $211,040 in the last quarter. Insiders own 15.10% of the company’s stock.

Institutional Investors Weigh In On Terns Pharmaceuticals

Several institutional investors have recently modified their holdings of TERN. Connor Clark & Lunn Investment Management Ltd. bought a new position in Terns Pharmaceuticals in the third quarter valued at approximately $442,000. Intech Investment Management LLC bought a new position in shares of Terns Pharmaceuticals in the 3rd quarter worth $145,000. Charles Schwab Investment Management Inc. grew its stake in shares of Terns Pharmaceuticals by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 154,714 shares of the company’s stock worth $1,290,000 after purchasing an additional 1,994 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Terns Pharmaceuticals by 191.9% in the third quarter. The Manufacturers Life Insurance Company now owns 66,100 shares of the company’s stock valued at $551,000 after purchasing an additional 43,455 shares during the last quarter. Finally, Quantbot Technologies LP lifted its stake in Terns Pharmaceuticals by 3,114.6% in the third quarter. Quantbot Technologies LP now owns 120,838 shares of the company’s stock valued at $1,008,000 after buying an additional 117,079 shares during the period. Institutional investors and hedge funds own 98.26% of the company’s stock.

Terns Pharmaceuticals Price Performance

Shares of TERN stock opened at $3.12 on Tuesday. The stock’s fifty day simple moving average is $3.93 and its 200 day simple moving average is $5.95. Terns Pharmaceuticals has a one year low of $3.07 and a one year high of $11.40. The firm has a market cap of $272.37 million, a price-to-earnings ratio of -2.64 and a beta of -0.30.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its earnings results on Thursday, March 20th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.06. On average, research analysts anticipate that Terns Pharmaceuticals will post -1.19 earnings per share 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.