HC Wainwright Boosts Terns Pharmaceuticals (NASDAQ:TERN) Price Target to $7.50

Terns Pharmaceuticals (NASDAQ:TERN) had its target price boosted by equities researchers at HC Wainwright from $5.50 to $7.50 in a report issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. HC Wainwright’s price target indicates a potential upside of 14.50% from the stock’s previous close. HC Wainwright also issued estimates for Terns Pharmaceuticals’ Q1 2025 earnings at ($0.30) EPS.

A number of other research analysts also recently issued reports on TERN. Oppenheimer began coverage on shares of Terns Pharmaceuticals in a research report on Thursday, October 31st. They set an “outperform” rating and a $82.00 target price for the company. BMO Capital Markets restated an “outperform” rating and issued a $26.00 target price (up previously from $19.00) on shares of Terns Pharmaceuticals in a research note on Monday, September 16th. Finally, JMP Securities lifted their price target on Terns Pharmaceuticals from $15.00 to $20.00 and gave the company a “market outperform” rating in a research report on Tuesday, September 10th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $27.25.

Terns Pharmaceuticals Trading Down 3.4 %

Shares of NASDAQ:TERN opened at $6.55 on Wednesday. Terns Pharmaceuticals has a twelve month low of $3.51 and a twelve month high of $11.40. The company has a market cap of $460.73 million, a PE ratio of -5.75 and a beta of -0.32. The company’s 50 day moving average is $8.08 and its 200 day moving average is $7.46.

Insider Activity at Terns Pharmaceuticals

In related 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 sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $150,000. The trade was a 53.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark J. Vignola sold 10,000 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $11.00, for a total transaction of $110,000.00. Following the transaction, the chief financial officer now directly owns 91,940 shares in the company, valued at approximately $1,011,340. The trade was a 9.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Terns Pharmaceuticals

Several large investors have recently bought and sold shares of TERN. Janus Henderson Group PLC lifted its position in shares of Terns Pharmaceuticals by 40.6% in the first quarter. Janus Henderson Group PLC now owns 2,003,263 shares of the company’s stock valued at $13,131,000 after acquiring an additional 578,500 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Terns Pharmaceuticals by 56.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 176,673 shares of the company’s stock valued at $1,203,000 after purchasing an additional 64,018 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Terns Pharmaceuticals by 127.9% during the 1st quarter. Russell Investments Group Ltd. now owns 632,965 shares of the company’s stock worth $4,152,000 after purchasing an additional 355,224 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Terns Pharmaceuticals by 21.1% during the second quarter. Point72 Asset Management L.P. now owns 2,690,376 shares of the company’s stock worth $18,321,000 after buying an additional 469,176 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Terns Pharmaceuticals by 0.5% in the first quarter. Vanguard Group Inc. now owns 2,199,006 shares of the company’s stock valued at $14,425,000 after buying an additional 11,535 shares during the last quarter. 98.26% of the stock is currently owned by hedge funds and other institutional investors.

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.