Brokerages Set Terns Pharmaceuticals, Inc. (NASDAQ:TERN) PT at $15.90

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) has earned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $26.92.

Several brokerages have recently weighed in on TERN. JMP Securities increased 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 reaffirmed 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. Finally, Oppenheimer began coverage on shares of Terns Pharmaceuticals in a research note on Thursday, October 31st. They issued an “outperform” rating and a $82.00 price objective on the stock.

Terns Pharmaceuticals Stock Up 1.0 %

Shares of NASDAQ TERN opened at $7.24 on Thursday. The business has a 50-day moving average price of $8.12 and a 200 day moving average price of $7.38. The stock has a market cap of $509.26 million, a PE ratio of -5.48 and a beta of -0.32. Terns Pharmaceuticals has a 52-week low of $3.26 and a 52-week high of $11.40.

Terns Pharmaceuticals (NASDAQ:TERN) last posted 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. Sell-side analysts anticipate that Terns Pharmaceuticals will post -1.28 earnings per share for the current year.

Insider Buying and Selling at Terns Pharmaceuticals

In related news, Director Hongbo Lu bought 476,190 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was bought 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Mark J. Vignola sold 10,000 shares of Terns Pharmaceuticals stock in a transaction 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 completion of the transaction, the chief financial officer now owns 91,940 shares of the company’s stock, valued at $1,011,340. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Hongbo Lu acquired 476,190 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was acquired 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 directly owns 476,190 shares in the company, valued at approximately $4,999,995. The disclosure for this purchase can be found here. 15.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Terns Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TERN. nVerses Capital LLC acquired a new stake in shares of Terns Pharmaceuticals in the third quarter valued at approximately $48,000. Simplicity Wealth LLC acquired a new stake in Terns Pharmaceuticals during the 2nd quarter valued at $72,000. Entropy Technologies LP purchased a new position in Terns Pharmaceuticals during the third quarter worth $106,000. Bleakley Financial Group LLC increased its position in Terns Pharmaceuticals by 26.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 13,312 shares of the company’s stock worth $111,000 after purchasing an additional 2,751 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its holdings in shares of Terns Pharmaceuticals by 78.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 13,535 shares of the company’s stock worth $113,000 after buying an additional 5,935 shares in the last quarter. Institutional investors and hedge funds 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.