Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) have been given an average recommendation of “Moderate Buy” by the six analysts that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $27.25.

Several research firms recently commented on TERN. BMO Capital Markets restated an “outperform” rating and issued a $26.00 target price (up from $19.00) on shares of Terns Pharmaceuticals in a research report on Monday, September 16th. HC Wainwright lifted their price objective on shares of Terns Pharmaceuticals from $5.50 to $7.50 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. JMP Securities increased their target price on shares of Terns Pharmaceuticals from $15.00 to $20.00 and gave the company a “market outperform” rating in a research 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 target on the stock.

Terns Pharmaceuticals Price Performance

Shares of TERN opened at $5.79 on Monday. Terns Pharmaceuticals has a 12-month low of $3.59 and a 12-month high of $11.40. The business’s fifty day moving average price is $7.61 and its 200 day moving average price is $7.50. The stock has a market capitalization of $491.80 million, a PE ratio of -4.91 and a beta of -0.32.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its earnings results on Tuesday, November 12th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.05. As a group, research analysts anticipate that Terns Pharmaceuticals will post -1.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jill M. Quigley sold 17,235 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $10.00, for a total transaction of $172,350.00. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at $150,000. This trade represents a 53.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Hongbo Lu bought 476,190 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were bought at an average cost of $10.50 per share, for a total transaction of $4,999,995.00. Following the completion of the transaction, the director now directly owns 476,190 shares of the company’s stock, valued at $4,999,995. This trade represents a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. 15.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Terns Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the stock. Point72 Asset Management L.P. lifted its stake in Terns Pharmaceuticals by 0.6% during the third quarter. Point72 Asset Management L.P. now owns 2,707,515 shares of the company’s stock valued at $22,581,000 after buying an additional 17,139 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Terns Pharmaceuticals by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 2,199,006 shares of the company’s stock valued at $14,425,000 after acquiring an additional 11,535 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Terns Pharmaceuticals by 40.6% in the 1st 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. Geode Capital Management LLC grew its position in Terns Pharmaceuticals by 7.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,207,479 shares of the company’s stock worth $10,072,000 after purchasing an additional 85,617 shares in the last quarter. Finally, Bellevue Group AG acquired a new stake in Terns Pharmaceuticals during the 3rd quarter valued at $8,691,000. Hedge funds and other institutional investors own 98.26% of the company’s stock.

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.