Terns Pharmaceuticals (NASDAQ:TERN) Announces Quarterly Earnings Results

Terns Pharmaceuticals (NASDAQ:TERN) announced its earnings results on Monday. The company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.04, Zacks reports.

Terns Pharmaceuticals Stock Performance

Shares of NASDAQ:TERN traded down $0.19 during midday trading on Tuesday, hitting $7.12. 1,380,944 shares of the stock were exchanged, compared to its average volume of 1,003,095. The stock has a market capitalization of $460.52 million, a price-to-earnings ratio of -6.29 and a beta of -0.37. The business’s 50-day moving average price is $7.60 and its 200 day moving average price is $6.65. Terns Pharmaceuticals has a 12 month low of $3.26 and a 12 month high of $10.03.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. HC Wainwright restated a “neutral” rating and set a $5.50 target price on shares of Terns Pharmaceuticals in a report on Tuesday, May 14th. JMP Securities restated a “market outperform” rating and set a $15.00 target price on shares of Terns Pharmaceuticals in a report on Tuesday, April 30th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $19.00 price target on shares of Terns Pharmaceuticals in a research note on Tuesday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.50.

Insider Transactions at Terns Pharmaceuticals

In other news, Director Jill M. Quigley sold 6,143 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $7.68, for a total transaction of $47,178.24. Following the sale, the director now directly owns 23,857 shares in the company, valued at $183,221.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Jill M. Quigley sold 6,143 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $7.68, for a total value of $47,178.24. Following the sale, the director now directly owns 23,857 shares in the company, valued at $183,221.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carl L. Gordon sold 50,976 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $10.00, for a total value of $509,760.00. Following the completion of the sale, the director now owns 756,258 shares in the company, valued at $7,562,580. The disclosure for this sale can be found here. Company insiders own 15.10% of the company’s stock.

About Terns Pharmaceuticals

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.