Terns Pharmaceuticals (NASDAQ:TERN) Research Coverage Started at Oppenheimer

Oppenheimer started coverage on shares of Terns Pharmaceuticals (NASDAQ:TERN) in a report released on Thursday morning, Marketbeat reports. The firm issued an outperform rating and a $82.00 target price on the stock.

Several other research firms have also issued reports on TERN. JMP Securities upped their target price on shares of Terns Pharmaceuticals from $15.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Tuesday, September 10th. BMO Capital Markets restated an “outperform” rating and set a $26.00 price target (up from $19.00) on shares of Terns Pharmaceuticals in a report on Monday, September 16th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $26.92.

Terns Pharmaceuticals Stock Performance

Shares of NASDAQ TERN opened at $6.94 on Thursday. The stock has a market cap of $488.13 million, a price-to-earnings ratio of -5.26 and a beta of -0.32. Terns Pharmaceuticals has a fifty-two week low of $3.26 and a fifty-two week high of $11.40. The firm’s 50-day simple moving average is $8.16 and its 200 day simple moving average is $7.32.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its earnings results on Monday, August 5th. The company reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.04. On average, sell-side analysts predict that Terns Pharmaceuticals will post -1.31 EPS for the current year.

Insider Transactions at Terns Pharmaceuticals

In related news, Director Hongbo Lu purchased 476,190 shares of Terns Pharmaceuticals stock in a transaction that occurred on Thursday, September 12th. The stock was bought at an average price of $10.50 per share, for a total transaction of $4,999,995.00. Following the completion of the transaction, the director now owns 476,190 shares in the company, valued at $4,999,995. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Hongbo Lu acquired 476,190 shares of Terns Pharmaceuticals stock in a transaction on Thursday, September 12th. The stock was acquired at an average cost of $10.50 per share, with a total value of $4,999,995.00. Following the completion of the acquisition, the director now owns 476,190 shares in the company, valued at approximately $4,999,995. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark J. Vignola sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $11.00, for a total value of $110,000.00. Following the completion of the sale, the chief financial officer now directly owns 91,940 shares of the company’s stock, valued at $1,011,340. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 15.10% of the company’s stock.

Institutional Investors Weigh In On Terns Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in TERN. Janus Henderson Group PLC raised its position in shares of Terns Pharmaceuticals by 40.6% in the first quarter. Janus Henderson Group PLC now owns 2,003,263 shares of the company’s stock valued at $13,131,000 after purchasing an additional 578,500 shares during the period. Bank of New York Mellon Corp raised its holdings in Terns Pharmaceuticals by 56.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 176,673 shares of the company’s stock valued at $1,203,000 after acquiring an additional 64,018 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Terns Pharmaceuticals by 127.9% during the first quarter. Russell Investments Group Ltd. now owns 632,965 shares of the company’s stock worth $4,152,000 after acquiring an additional 355,224 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of Terns Pharmaceuticals by 21.1% in the second quarter. Point72 Asset Management L.P. now owns 2,690,376 shares of the company’s stock worth $18,321,000 after acquiring an additional 469,176 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Terns Pharmaceuticals by 0.5% in the first quarter. Vanguard Group Inc. now owns 2,199,006 shares of the company’s stock valued at $14,425,000 after purchasing an additional 11,535 shares in the last quarter. 98.26% of the stock is owned by hedge funds and other institutional investors.

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.