Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Receives $18.30 Average Price Target from Analysts

Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) have been assigned a consensus recommendation of “Moderate Buy” from the five analysts that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $18.38.

A number of equities research analysts have recently weighed in on the company. HC Wainwright reaffirmed a “neutral” rating and set a $7.50 price target on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. JMP Securities restated a “market outperform” rating and set a $20.00 price target on shares of Terns Pharmaceuticals in a report on Wednesday, December 4th. William Blair reiterated a “market perform” rating on shares of Terns Pharmaceuticals in a report on Friday, March 21st. Finally, Oppenheimer raised their target price on Terns Pharmaceuticals from $17.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th.

Terns Pharmaceuticals Stock Performance

Terns Pharmaceuticals stock opened at $3.12 on Tuesday. Terns Pharmaceuticals has a twelve month low of $3.07 and a twelve month high of $11.40. The firm has a market cap of $272.37 million, a PE ratio of -2.64 and a beta of -0.30. The firm’s 50 day moving average price is $3.93 and its two-hundred day moving average price is $5.95.

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, topping analysts’ consensus estimates of ($0.30) by $0.06. Equities analysts anticipate that Terns Pharmaceuticals will post -1.19 EPS for the current fiscal year.

Insider Buying and Selling at Terns Pharmaceuticals

In other Terns Pharmaceuticals news, CFO Mark J. Vignola sold 8,129 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $5.72, for a total value of $46,497.88. Following the sale, the chief financial officer now directly owns 83,811 shares in the company, valued at $479,398.92. This trade represents a 8.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jill M. Quigley sold 8,760 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $5.79, for a total transaction of $50,720.40. The disclosure for this sale can be found here. Insiders sold 36,669 shares of company stock worth $211,040 over the last ninety days. Company insiders own 15.10% of the company’s stock.

Institutional Trading of Terns Pharmaceuticals

A number of hedge funds have recently modified their holdings of TERN. Charles Schwab Investment Management Inc. raised its stake in shares of Terns Pharmaceuticals by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 154,714 shares of the company’s stock valued at $1,290,000 after purchasing an additional 1,994 shares in the last quarter. Invesco Ltd. increased its holdings in Terns Pharmaceuticals by 13.3% in the 4th quarter. Invesco Ltd. now owns 23,400 shares of the company’s stock valued at $130,000 after buying an additional 2,753 shares during the period. Corebridge Financial Inc. raised its stake in shares of 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 in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Terns Pharmaceuticals by 33.1% during 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. boosted its position in shares of 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 valued at $220,000 after acquiring an additional 8,261 shares in the last quarter. Institutional investors own 98.26% 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.