Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Receives $14.94 Average PT from Brokerages

Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) have earned an average rating of “Moderate Buy” from the eight analysts that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $14.94.

Several research firms have issued reports on TERN. JMP Securities reaffirmed a “market outperform” rating and set a $15.00 price objective on shares of Terns Pharmaceuticals in a report on Tuesday, April 30th. BMO Capital Markets increased their price objective on shares of Terns Pharmaceuticals from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, March 15th. HC Wainwright reaffirmed a “neutral” rating and set a $5.50 price objective on shares of Terns Pharmaceuticals in a report on Tuesday, May 14th. Finally, UBS Group decreased their price objective on shares of Terns Pharmaceuticals from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, March 27th.

Insider Activity

In other news, major shareholder Vivo Opportunity, Llc sold 181,117 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $6.99, for a total value of $1,266,007.83. Following the completion of the sale, the insider now directly owns 275,772 shares in the company, valued at $1,927,646.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 17.40% of the company’s stock.

Institutional Investors Weigh In On Terns Pharmaceuticals

Hedge funds have recently modified their holdings of the business. Braidwell LP raised its stake in Terns Pharmaceuticals by 54.2% during the third 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 during the period. Franklin Resources Inc. raised its stake in Terns Pharmaceuticals by 7.4% during the fourth quarter. Franklin Resources Inc. now owns 2,307,834 shares of the company’s stock worth $14,978,000 after purchasing an additional 159,013 shares during the period. Vanguard Group Inc. raised its stake in Terns Pharmaceuticals by 0.5% during the first quarter. Vanguard Group Inc. now owns 2,199,006 shares of the company’s stock worth $14,425,000 after purchasing an additional 11,535 shares during the period. Janus Henderson Group PLC raised its stake in Terns Pharmaceuticals by 40.6% during the first quarter. Janus Henderson Group PLC now owns 2,003,263 shares of the company’s stock worth $13,131,000 after purchasing an additional 578,500 shares during the period. Finally, Great Point Partners LLC raised its stake in Terns Pharmaceuticals by 102.8% during the fourth quarter. Great Point Partners LLC now owns 1,309,975 shares of the company’s stock worth $8,502,000 after purchasing an additional 664,076 shares during the period. 98.26% of the stock is currently owned by institutional investors and hedge funds.

Terns Pharmaceuticals Stock Performance

Shares of NASDAQ TERN opened at $5.93 on Monday. The company’s fifty day moving average price is $5.71 and its 200 day moving average price is $5.90. Terns Pharmaceuticals has a 1 year low of $3.26 and a 1 year high of $13.03. The company has a market capitalization of $383.55 million, a PE ratio of -4.71 and a beta of -0.49.

Terns Pharmaceuticals (NASDAQ:TERN) last announced 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). On average, equities analysts expect that Terns Pharmaceuticals will post -1.41 EPS 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.