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

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) has received an average rating of “Moderate Buy” from the five brokerages that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $15.90.

Several brokerages have issued reports on TERN. BMO Capital Markets reaffirmed an “outperform” rating and set a $26.00 target price (up previously from $19.00) on shares of Terns Pharmaceuticals in a research note on Monday, September 16th. JMP Securities lifted their price objective on Terns Pharmaceuticals from $15.00 to $20.00 and gave the stock a “market outperform” rating in a research report on Tuesday, September 10th. Finally, Oppenheimer began coverage on shares of Terns Pharmaceuticals in a research report on Thursday. They set an “outperform” rating and a $82.00 price target on the stock.

Insider Transactions at Terns Pharmaceuticals

In related news, Director Hongbo Lu acquired 476,190 shares of Terns Pharmaceuticals stock in a transaction that occurred on Thursday, September 12th. The shares were purchased 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 approximately $4,999,995. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Terns Pharmaceuticals news, Director Jill M. Quigley sold 17,235 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $10.00, for a total value of $172,350.00. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at $150,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Hongbo Lu acquired 476,190 shares of Terns Pharmaceuticals stock in a transaction dated Thursday, September 12th. The stock was bought at an average price of $10.50 per share, for a total transaction of $4,999,995.00. Following the completion of the purchase, the director now owns 476,190 shares of the company’s stock, valued at approximately $4,999,995. The disclosure for this purchase can be found here. Company insiders own 15.10% of the company’s stock.

Institutional Investors Weigh In On Terns Pharmaceuticals

Several large investors have recently bought and sold shares of the stock. nVerses Capital LLC acquired a new position in shares of Terns Pharmaceuticals in the 3rd quarter valued at $48,000. Simplicity Wealth LLC purchased a new stake in Terns Pharmaceuticals in the second quarter valued at $72,000. Bleakley Financial Group LLC boosted its stake in Terns Pharmaceuticals by 26.0% in the third quarter. Bleakley Financial Group LLC now owns 13,312 shares of the company’s stock valued at $111,000 after acquiring an additional 2,751 shares in the last quarter. 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 purchasing an additional 5,935 shares during the last quarter. Finally, Walleye Trading LLC purchased a new position in shares of Terns Pharmaceuticals during the first quarter worth about $98,000. Hedge funds and other institutional investors own 98.26% of the company’s stock.

Terns Pharmaceuticals Stock Up 0.1 %

TERN opened at $6.89 on Thursday. Terns Pharmaceuticals has a twelve month low of $3.26 and a twelve month high of $11.40. The company has a market cap of $484.62 million, a PE ratio of -5.22 and a beta of -0.36. The company has a 50-day moving average price of $8.21 and a 200 day moving average price of $7.30.

Terns Pharmaceuticals (NASDAQ:TERN) last released its earnings results 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. As a group, sell-side analysts expect that Terns Pharmaceuticals will post -1.31 earnings per share for the current year.

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.