Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Receives $27.25 Consensus PT from Analysts

Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) have been assigned an average recommendation of “Moderate Buy” from the five brokerages that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $30.70.

A number of equities research analysts recently weighed in on the stock. HC Wainwright lifted their price objective on shares of Terns Pharmaceuticals from $5.50 to $7.50 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Oppenheimer started coverage on shares of Terns Pharmaceuticals in a research report on Thursday, October 31st. They issued an “outperform” rating and a $82.00 price objective on the stock. BMO Capital Markets reissued an “outperform” rating and set a $26.00 target price (up previously from $19.00) on shares of Terns Pharmaceuticals in a research report on Monday, September 16th. Finally, JMP Securities lifted their price objective on shares of Terns Pharmaceuticals from $15.00 to $20.00 and gave the company a “market outperform” rating in a research note on Tuesday, September 10th.

Insider Buying and Selling

In related news, Director Jill M. Quigley sold 17,235 shares of the 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 owns 15,000 shares of the company’s stock, valued at approximately $150,000. This trade represents a 53.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Hongbo Lu acquired 476,190 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was purchased at an average cost of $10.50 per share, with a total value of $4,999,995.00. Following the completion of the purchase, the director now directly owns 476,190 shares of the company’s stock, valued at approximately $4,999,995. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 15.10% of the stock is owned by insiders.

Institutional Trading of Terns Pharmaceuticals

Several hedge funds have recently made changes to their positions in the business. nVerses Capital LLC purchased a new stake in shares of Terns Pharmaceuticals during the third quarter worth approximately $48,000. Simplicity Wealth LLC acquired a new stake in shares of Terns Pharmaceuticals in the second quarter valued at approximately $72,000. Sio Capital Management LLC acquired a new stake in shares of Terns Pharmaceuticals in the third quarter valued at approximately $83,000. Walleye Trading LLC acquired a new stake in shares of Terns Pharmaceuticals during the first quarter worth $98,000. Finally, Kennedy Capital Management LLC acquired a new stake in shares of Terns Pharmaceuticals during the first quarter worth $101,000. Institutional investors and hedge funds own 98.26% of the company’s stock.

Terns Pharmaceuticals Stock Performance

TERN opened at $6.24 on Monday. Terns Pharmaceuticals has a fifty-two week low of $4.19 and a fifty-two week high of $11.40. The company has a fifty day moving average of $7.24 and a 200 day moving average of $7.51. The stock has a market capitalization of $530.02 million, a price-to-earnings ratio of -5.29 and a beta of -0.32.

Terns Pharmaceuticals (NASDAQ:TERN) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.05. On average, equities research analysts forecast that Terns Pharmaceuticals will post -1.22 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.