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

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) has been assigned an average recommendation of “Moderate Buy” from the five brokerages that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $18.38.

Several research analysts have commented on TERN shares. William Blair reissued a “market perform” rating on shares of Terns Pharmaceuticals in a report on Friday, March 21st. JMP Securities reissued a “market outperform” rating and issued a $20.00 target price on shares of Terns Pharmaceuticals in a report on Wednesday, December 4th. HC Wainwright reaffirmed a “neutral” rating and set a $7.50 price target on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. Finally, Oppenheimer boosted their target price on shares of Terns Pharmaceuticals from $17.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th.

Terns Pharmaceuticals Stock Down 6.4 %

Shares of Terns Pharmaceuticals stock opened at $2.92 on Tuesday. Terns Pharmaceuticals has a 52 week low of $2.90 and a 52 week high of $11.40. The stock’s 50-day simple moving average is $3.90 and its 200-day simple moving average is $5.87. The company has a market capitalization of $254.91 million, a price-to-earnings ratio of -2.47 and a beta of -0.30.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its quarterly earnings results on Thursday, March 20th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.06. On average, equities analysts expect that Terns Pharmaceuticals will post -1.19 earnings per share for the current year.

Insider Activity

In other Terns Pharmaceuticals news, insider Emil Kuriakose sold 4,481 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $5.71, for a total value of $25,586.51. Following the transaction, the insider now directly owns 54,269 shares in the company, valued at $309,875.99. This represents a 7.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark J. Vignola sold 9,059 shares of Terns Pharmaceuticals stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $5.80, for a total transaction of $52,542.20. Following the sale, the chief financial officer now directly owns 74,752 shares of the company’s stock, valued at $433,561.60. This represents a 10.81 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,669 shares of company stock valued at $211,040. 15.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TERN. Infinitum Asset Management LLC bought a new position in shares of Terns Pharmaceuticals during the fourth quarter valued at approximately $1,108,000. Woodline Partners LP lifted its stake in shares of Terns Pharmaceuticals by 3.4% during the 4th quarter. Woodline Partners LP now owns 311,612 shares of the company’s stock worth $1,726,000 after purchasing an additional 10,388 shares during the last quarter. Velan Capital Investment Management LP purchased a new position in Terns Pharmaceuticals in the fourth quarter valued at about $94,000. Soleus Capital Management L.P. grew its stake in Terns Pharmaceuticals by 30.8% in the fourth quarter. Soleus Capital Management L.P. now owns 8,142,500 shares of the company’s stock valued at $45,109,000 after purchasing an additional 1,918,956 shares during the last quarter. Finally, Tema Etfs LLC bought a new position in Terns Pharmaceuticals in the fourth quarter worth about $442,000. 98.26% of the stock is currently owned by institutional investors.

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.