Analysts Set Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Price Target at $14.94

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) has been given a consensus rating of “Moderate Buy” by the eight brokerages that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $14.94.

A number of brokerages recently commented on TERN. HC Wainwright restated a “neutral” rating and issued a $5.50 price target on shares of Terns Pharmaceuticals in a research report on Friday, March 15th. UBS Group reduced their price objective on shares of Terns Pharmaceuticals from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, March 27th. JMP Securities dropped their target price on shares of Terns Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating for the company in a research report on Monday, March 18th. Finally, BMO Capital Markets lifted their price objective on shares of Terns Pharmaceuticals from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, March 15th.

Insider Activity

In related news, major shareholder Vivo Opportunity, Llc sold 138,066 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $6.20, for a total transaction of $856,009.20. Following the completion of the transaction, the insider now directly owns 268,573 shares in the company, valued at approximately $1,665,152.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 17.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Terns Pharmaceuticals

Hedge funds have recently modified their holdings of the company. Braidwell LP increased its holdings in Terns Pharmaceuticals by 54.2% in the 3rd quarter. Braidwell LP now owns 2,840,052 shares of the company’s stock worth $14,285,000 after purchasing an additional 997,700 shares in the last quarter. Decheng Capital LLC acquired a new position in shares of Terns Pharmaceuticals in the fourth quarter valued at approximately $4,636,000. Great Point Partners LLC increased its stake in shares of Terns Pharmaceuticals by 102.8% in the fourth quarter. Great Point Partners LLC now owns 1,309,975 shares of the company’s stock valued at $8,502,000 after buying an additional 664,076 shares during the period. Affinity Asset Advisors LLC bought a new position in Terns Pharmaceuticals in the 3rd quarter valued at approximately $1,635,000. Finally, Russell Investments Group Ltd. acquired a new stake in Terns Pharmaceuticals during the 4th quarter worth approximately $1,803,000. Institutional investors and hedge funds own 98.26% of the company’s stock.

Terns Pharmaceuticals Trading Up 5.8 %

Shares of TERN opened at $4.91 on Thursday. Terns Pharmaceuticals has a 12 month low of $3.26 and a 12 month high of $13.51. The firm’s 50 day moving average is $6.39 and its 200-day moving average is $5.85. The stock has a market capitalization of $317.43 million, a PE ratio of -3.87 and a beta of -0.63.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its quarterly earnings results on Thursday, March 14th. The company reported ($0.29) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.29). Equities research analysts predict that Terns Pharmaceuticals will post -1.46 earnings per share for the current fiscal 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.