Research Analysts Issue Forecasts for TERN FY2024 Earnings

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) – Equities research analysts at HC Wainwright boosted their FY2024 earnings per share (EPS) estimates for Terns Pharmaceuticals in a report released on Wednesday, November 13th. HC Wainwright analyst E. Arce now expects that the company will post earnings per share of ($1.17) for the year, up from their previous forecast of ($1.36). HC Wainwright has a “Neutral” rating and a $7.50 price target on the stock. The consensus estimate for Terns Pharmaceuticals’ current full-year earnings is ($1.28) per share. HC Wainwright also issued estimates for Terns Pharmaceuticals’ Q4 2024 earnings at ($0.28) EPS, Q2 2025 earnings at ($0.33) EPS, Q3 2025 earnings at ($0.37) EPS, Q4 2025 earnings at ($0.40) EPS, FY2025 earnings at ($1.41) EPS, FY2026 earnings at ($1.46) EPS, FY2027 earnings at ($1.58) EPS and FY2028 earnings at ($0.64) EPS.

A number of other brokerages have also recently issued reports on TERN. JMP Securities raised their target price on Terns Pharmaceuticals from $15.00 to $20.00 and gave the stock a “market outperform” rating in a report on Tuesday, September 10th. Oppenheimer started coverage on Terns Pharmaceuticals in a report on Thursday, October 31st. They set an “outperform” rating and a $82.00 price objective on the stock. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $26.00 price objective (up previously from $19.00) on shares of Terns Pharmaceuticals in a report on Monday, September 16th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Terns Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $27.25.

Terns Pharmaceuticals Trading Down 5.8 %

Shares of TERN opened at $6.17 on Friday. Terns Pharmaceuticals has a 1 year low of $3.59 and a 1 year high of $11.40. The stock has a market cap of $524.07 million, a P/E ratio of -5.02 and a beta of -0.32. The stock’s 50-day moving average price is $8.06 and its two-hundred day moving average price is $7.46.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. nVerses Capital LLC bought a new position in shares of Terns Pharmaceuticals during the 3rd quarter worth approximately $48,000. Simplicity Wealth LLC bought a new position in shares of Terns Pharmaceuticals during the 2nd quarter worth approximately $72,000. Sio Capital Management LLC bought a new position in shares of Terns Pharmaceuticals during the 3rd quarter worth approximately $83,000. Walleye Trading LLC bought a new position in shares of Terns Pharmaceuticals during the 1st quarter worth approximately $98,000. Finally, Kennedy Capital Management LLC bought a new position in shares of Terns Pharmaceuticals during the 1st quarter worth approximately $101,000. Institutional investors and hedge funds own 98.26% of the company’s stock.

Insider Activity at Terns Pharmaceuticals

In related news, Director Hongbo Lu purchased 476,190 shares of the stock in a transaction on Thursday, September 12th. The shares were purchased at an average price of $10.50 per share, with a total value of $4,999,995.00. Following the transaction, the director now directly owns 476,190 shares of the company’s stock, valued at $4,999,995. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jill M. Quigley sold 17,235 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $10.00, for a total value of $172,350.00. Following the transaction, the director now directly owns 15,000 shares in the company, valued at $150,000. This trade represents a 53.47 % decrease in their position. The disclosure for this sale can be found here. 15.10% of the stock is owned by insiders.

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.