Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Receives $27.25 Average PT from Brokerages

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) has earned a consensus recommendation of “Moderate Buy” from the five brokerages that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $30.70.

TERN has been the subject of several recent research reports. HC Wainwright boosted their price target on Terns Pharmaceuticals from $5.50 to $7.50 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. BMO Capital Markets restated an “outperform” rating and issued a $26.00 price objective (up from $19.00) on shares of Terns Pharmaceuticals in a report on Monday, September 16th. JMP Securities increased their price target on Terns Pharmaceuticals from $15.00 to $20.00 and gave the stock a “market outperform” rating in a report on Tuesday, September 10th. Finally, Oppenheimer initiated coverage on shares of Terns Pharmaceuticals in a research report on Thursday, October 31st. They set an “outperform” rating and a $82.00 price objective on the stock.

Insiders Place Their Bets

In other news, Director Jill M. Quigley sold 17,235 shares of the business’s stock in a transaction 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 directly owns 15,000 shares in the company, valued at $150,000. The trade was a 53.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark J. Vignola sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $11.00, for a total transaction of $110,000.00. Following the transaction, the chief financial officer now owns 91,940 shares of the company’s stock, valued at $1,011,340. This trade represents a 9.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 15.10% of the company’s stock.

Institutional Trading of Terns Pharmaceuticals

A number of hedge funds have recently made changes to their positions in TERN. Vanguard Group Inc. lifted its stake in Terns Pharmaceuticals by 0.5% in 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 last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Terns Pharmaceuticals by 12.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,694 shares of the company’s stock worth $136,000 after buying an additional 2,261 shares in the last quarter. Kennedy Capital Management LLC bought a new position in shares of Terns Pharmaceuticals in the first quarter worth approximately $101,000. Janus Henderson Group PLC lifted its position 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 valued at $13,131,000 after purchasing an additional 578,500 shares during the period. Finally, Walleye Trading LLC bought a new position in Terns Pharmaceuticals during the first quarter valued at approximately $98,000. 98.26% of the stock is owned by institutional investors.

Terns Pharmaceuticals Stock Performance

Terns Pharmaceuticals stock opened at $6.24 on Monday. The stock has a 50-day simple moving average of $7.24 and a 200 day simple moving average of $7.51. The stock has a market capitalization of $530.02 million, a P/E ratio of -5.29 and a beta of -0.32. Terns Pharmaceuticals has a 52 week low of $4.19 and a 52 week high of $11.40.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.05. 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.