Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Receives $27.25 Consensus Target Price from Brokerages

Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) have been assigned an average rating of “Moderate Buy” from the five ratings firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $30.70.

TERN has been the topic of a number of recent research reports. HC Wainwright upped their price target 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. Oppenheimer initiated coverage on shares of Terns Pharmaceuticals in a research note on Thursday, October 31st. They set an “outperform” rating and a $82.00 price target on the stock. JMP Securities upped their price target 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. Finally, 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 research note on Monday, September 16th.

Terns Pharmaceuticals Stock Up 7.8 %

Terns Pharmaceuticals stock opened at $6.34 on Monday. Terns Pharmaceuticals has a twelve month low of $3.86 and a twelve month high of $11.40. The firm has a 50 day moving average price of $7.39 and a 200-day moving average price of $7.49. The company has a market capitalization of $538.52 million, a P/E ratio of -5.37 and a beta of -0.32.

Terns Pharmaceuticals (NASDAQ:TERN) last released its earnings results on Tuesday, November 12th. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.05. Equities analysts expect that Terns Pharmaceuticals will post -1.22 EPS for the current fiscal year.

Insider Activity

In related news, CFO Mark J. Vignola sold 10,000 shares of the 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 approximately $1,011,340. This trade represents a 9.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Hongbo Lu bought 476,190 shares of Terns Pharmaceuticals stock in a transaction that occurred on Thursday, September 12th. The shares were acquired at an average cost of $10.50 per share, for a total transaction of $4,999,995.00. Following the acquisition, the director now owns 476,190 shares in the company, valued at $4,999,995. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 15.10% of the company’s stock.

Hedge Funds Weigh In On Terns Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. grew its holdings in Terns Pharmaceuticals by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 154,714 shares of the company’s stock worth $1,290,000 after acquiring an additional 1,994 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Terns Pharmaceuticals by 12.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,694 shares of the company’s stock worth $136,000 after acquiring an additional 2,261 shares during the last quarter. Bleakley Financial Group LLC grew its holdings in Terns Pharmaceuticals by 26.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 13,312 shares of the company’s stock worth $111,000 after acquiring an additional 2,751 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Terns Pharmaceuticals by 28.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,645 shares of the company’s stock worth $154,000 after acquiring an additional 5,049 shares during the last quarter. Finally, Creative Planning grew its holdings in Terns Pharmaceuticals by 27.2% in the 3rd quarter. Creative Planning now owns 25,310 shares of the company’s stock worth $211,000 after acquiring an additional 5,409 shares during 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.