Analysts Set Terns Pharmaceuticals, Inc. (NASDAQ:TERN) PT at $18.30

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

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

Insiders Place Their Bets

In related news, Director Jill M. Quigley sold 8,760 shares of Terns Pharmaceuticals stock in a transaction on Monday, January 6th. The shares were sold at an average price of $5.79, for a total value of $50,720.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Emil Kuriakose sold 4,481 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $5.71, for a total transaction of $25,586.51. Following the completion of the sale, the insider now owns 54,269 shares of the company’s stock, valued at $309,875.99. This represents a 7.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,669 shares of company stock valued at $211,040 over the last ninety days. Corporate insiders own 15.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its position in Terns Pharmaceuticals by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 154,714 shares of the company’s stock worth $1,290,000 after purchasing an additional 1,994 shares during the period. Invesco Ltd. boosted its holdings in shares of Terns Pharmaceuticals by 13.3% during the 4th quarter. Invesco Ltd. now owns 23,400 shares of the company’s stock worth $130,000 after buying an additional 2,753 shares during the period. Corebridge Financial Inc. grew its stake in Terns Pharmaceuticals by 13.5% in the 4th quarter. Corebridge Financial Inc. now owns 34,951 shares of the company’s stock valued at $194,000 after buying an additional 4,169 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in Terns Pharmaceuticals by 33.1% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 18,010 shares of the company’s stock worth $100,000 after acquiring an additional 4,475 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Terns Pharmaceuticals by 26.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,784 shares of the company’s stock worth $220,000 after acquiring an additional 8,261 shares during the last quarter. 98.26% of the stock is owned by institutional investors.

Terns Pharmaceuticals Stock Performance

NASDAQ TERN opened at $2.76 on Tuesday. The firm’s 50 day moving average price is $3.86 and its two-hundred day moving average price is $5.79. Terns Pharmaceuticals has a twelve month low of $2.75 and a twelve month high of $11.40. The stock has a market cap of $240.94 million, a price-to-earnings ratio of -2.34 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, beating the consensus estimate of ($0.30) by $0.06. On average, research analysts forecast that Terns Pharmaceuticals will post -1.19 EPS for the current fiscal year.

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.