Terns Pharmaceuticals (NASDAQ:TERN) Earns Outperform Rating from Analysts at Oppenheimer

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

TERN has been the subject of several other reports. JMP Securities upped their price objective on shares of Terns Pharmaceuticals from $15.00 to $20.00 and gave the company a “market outperform” rating in a research note on Tuesday, September 10th. BMO Capital Markets reaffirmed an “outperform” rating and set a $26.00 price target (up previously from $19.00) on shares of Terns Pharmaceuticals in a research report on Monday, September 16th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Terns Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.92.

Terns Pharmaceuticals Trading Up 1.2 %

NASDAQ TERN opened at $6.94 on Thursday. The firm has a market cap of $488.13 million, a PE ratio of -5.26 and a beta of -0.32. Terns Pharmaceuticals has a 1-year low of $3.26 and a 1-year high of $11.40. The stock has a 50-day moving average of $8.16 and a 200-day moving average of $7.34.

Terns Pharmaceuticals (NASDAQ:TERN) last announced its quarterly earnings data on Monday, August 5th. The company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.04. As a group, equities research analysts forecast that Terns Pharmaceuticals will post -1.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Terns Pharmaceuticals news, CFO Mark J. Vignola sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was 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 in the company, valued at approximately $1,011,340. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Terns Pharmaceuticals 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 transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $150,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Mark J. Vignola sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $11.00, for a total transaction of $110,000.00. Following the completion of the sale, the chief financial officer now directly owns 91,940 shares in the company, 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. 15.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Terns Pharmaceuticals

Hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC lifted its holdings in shares of 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 last quarter. Bank of New York Mellon Corp boosted its holdings in Terns Pharmaceuticals by 56.8% in the second quarter. Bank of New York Mellon Corp now owns 176,673 shares of the company’s stock worth $1,203,000 after acquiring an additional 64,018 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Terns Pharmaceuticals by 127.9% in 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 during the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Terns Pharmaceuticals by 21.1% during the second quarter. Point72 Asset Management L.P. now owns 2,690,376 shares of the company’s stock valued at $18,321,000 after acquiring an additional 469,176 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Terns Pharmaceuticals by 0.5% during the first 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. 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.