Analysts Set Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Price Target at $27.25

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) has been given an average rating of “Moderate Buy” by the five analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $30.70.

Several equities analysts recently issued reports on TERN shares. Oppenheimer started coverage on shares of Terns Pharmaceuticals in a report on Thursday, October 31st. They issued an “outperform” rating and a $82.00 target price on the stock. 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 report on Monday, September 16th. HC Wainwright boosted their target price on shares of Terns Pharmaceuticals from $5.50 to $7.50 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Finally, JMP Securities boosted their target price on shares of Terns Pharmaceuticals from $15.00 to $20.00 and gave the company a “market outperform” rating in a report on Tuesday, September 10th.

Insider Activity

In related news, Director Jill M. Quigley sold 17,235 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $10.00, for a total value of $172,350.00. Following the sale, the director now owns 15,000 shares in the company, valued at $150,000. This represents a 53.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Mark J. Vignola sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $11.00, for a total transaction of $110,000.00. Following the completion of the sale, the chief financial officer now owns 91,940 shares in the company, valued at $1,011,340. This represents a 9.81 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 15.10% of the company’s stock.

Institutional Investors Weigh In On Terns Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. Bellevue Group AG bought a new stake in Terns Pharmaceuticals in the 3rd quarter worth about $8,691,000. Janus Henderson Group PLC grew its position in Terns Pharmaceuticals by 40.6% in the 1st quarter. Janus Henderson Group PLC now owns 2,003,263 shares of the company’s stock worth $13,131,000 after purchasing an additional 578,500 shares in the last quarter. Point72 Asset Management L.P. grew its position in Terns Pharmaceuticals by 21.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 2,690,376 shares of the company’s stock worth $18,321,000 after purchasing an additional 469,176 shares in the last quarter. Salem Investment Counselors Inc. bought a new stake in Terns Pharmaceuticals in the 2nd quarter worth about $2,531,000. Finally, Telemark Asset Management LLC bought a new stake in Terns Pharmaceuticals in the 3rd quarter worth about $2,502,000. Institutional investors and hedge funds own 98.26% of the company’s stock.

Terns Pharmaceuticals Stock Up 7.8 %

Shares of Terns Pharmaceuticals stock opened at $6.34 on Monday. Terns Pharmaceuticals has a twelve month low of $3.86 and a twelve month high of $11.40. The stock has a market cap of $538.52 million, a price-to-earnings ratio of -5.37 and a beta of -0.32. The company’s fifty day moving average is $7.39 and its 200 day moving average is $7.49.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.05. As a group, equities analysts anticipate that Terns Pharmaceuticals will post -1.22 earnings per share for the current fiscal 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.