Terns Pharmaceuticals (NASDAQ:TERN) Issues Earnings Results

Terns Pharmaceuticals (NASDAQ:TERN) issued its quarterly earnings results on Thursday. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.06, Zacks reports.

Terns Pharmaceuticals Stock Performance

NASDAQ TERN traded down $0.02 on Thursday, reaching $3.14. 671,036 shares of the company’s stock traded hands, compared to its average volume of 1,390,515. Terns Pharmaceuticals has a fifty-two week low of $3.08 and a fifty-two week high of $11.40. The firm has a market cap of $266.71 million, a price-to-earnings ratio of -2.66 and a beta of -0.30. The stock has a 50 day moving average price of $4.11 and a 200-day moving average price of $6.12.

Insiders Place Their Bets

In other news, insider Emil Kuriakose sold 4,481 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $5.71, for a total transaction of $25,586.51. Following the sale, the insider now owns 54,269 shares of the company’s stock, valued at $309,875.99. This trade represents a 7.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark J. Vignola sold 9,059 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $5.80, for a total transaction of $52,542.20. Following the completion of the transaction, the chief financial officer now owns 74,752 shares of the company’s stock, valued at approximately $433,561.60. This represents a 10.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,669 shares of company stock valued at $211,040. Company insiders own 15.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. JMP Securities reiterated a “market outperform” rating and issued a $20.00 target price on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. William Blair assumed coverage on shares of Terns Pharmaceuticals in a report on Friday, February 28th. They issued a “market perform” rating for the company. HC Wainwright reissued a “neutral” rating and set a $7.50 price objective on shares of Terns Pharmaceuticals in a report on Wednesday, December 4th. Finally, Oppenheimer raised their target price on Terns Pharmaceuticals from $17.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.30.

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.