Terns Pharmaceuticals (NASDAQ:TERN) Releases Earnings Results, Beats Expectations By $0.04 EPS

Terns Pharmaceuticals (NASDAQ:TERN) released its earnings results on Monday. The company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.04, Zacks reports.

Terns Pharmaceuticals Price Performance

Shares of TERN stock traded down $0.19 during trading on Tuesday, hitting $7.12. 1,380,944 shares of the stock traded hands, compared to its average volume of 1,003,095. The firm has a market capitalization of $460.52 million, a P/E ratio of -6.29 and a beta of -0.37. The firm’s fifty day moving average price is $7.60 and its 200-day moving average price is $6.65. Terns Pharmaceuticals has a 52-week low of $3.26 and a 52-week high of $10.03.

Analyst Upgrades and Downgrades

TERN has been the topic of a number of research reports. BMO Capital Markets reissued an “outperform” rating and issued a $19.00 target price on shares of Terns Pharmaceuticals in a research note on Tuesday. JMP Securities reissued a “market outperform” rating and issued a $15.00 target price on shares of Terns Pharmaceuticals in a research note on Tuesday, April 30th. Finally, HC Wainwright reissued a “neutral” rating and issued a $5.50 target price on shares of Terns Pharmaceuticals in a research note on Tuesday, May 14th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $14.50.

Insider Activity

In other news, Director Jill M. Quigley sold 6,143 shares of Terns Pharmaceuticals stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $7.68, for a total transaction of $47,178.24. Following the sale, the director now owns 23,857 shares of the company’s stock, valued at approximately $183,221.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Carl L. Gordon sold 50,976 shares of Terns Pharmaceuticals 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 approximately $7,562,580. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jill M. Quigley sold 6,143 shares of Terns Pharmaceuticals stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $7.68, for a total transaction of $47,178.24. Following the completion of the sale, the director now owns 23,857 shares of the company’s stock, valued at approximately $183,221.76. The disclosure for this sale can be found here. Corporate insiders own 15.10% 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.