Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) has received an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $18.30.

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

Insider Activity

In other news, Director Jill M. Quigley sold 8,760 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $5.79, for a total transaction of $50,720.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Mark J. Vignola sold 8,129 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $5.72, for a total value of $46,497.88. Following the completion of the sale, the chief financial officer now owns 83,811 shares in the company, valued at approximately $479,398.92. This represents a 8.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,669 shares of company stock worth $211,040 in the last 90 days. 15.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Terns Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the company. Candriam S.C.A. acquired a new position in shares of Terns Pharmaceuticals during the 4th quarter worth $11,933,000. Acorn Capital Advisors LLC purchased a new position in Terns Pharmaceuticals during the 4th quarter valued at about $10,921,000. Soleus Capital Management L.P. raised its position in Terns Pharmaceuticals by 30.8% during the fourth quarter. Soleus Capital Management L.P. now owns 8,142,500 shares of the company’s stock worth $45,109,000 after acquiring an additional 1,918,956 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its holdings in shares of Terns Pharmaceuticals by 44.4% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 4,751,506 shares of the company’s stock valued at $26,323,000 after purchasing an additional 1,461,680 shares in the last quarter. Finally, Bellevue Group AG acquired a new stake in shares of Terns Pharmaceuticals in the third quarter valued at approximately $8,691,000. 98.26% of the stock is currently owned by hedge funds and other institutional investors.

Terns Pharmaceuticals Stock Performance

Shares of TERN opened at $3.51 on Tuesday. The company has a market capitalization of $298.14 million, a price-to-earnings ratio of -2.97 and a beta of -0.30. Terns Pharmaceuticals has a fifty-two week low of $3.08 and a fifty-two week high of $11.40. The firm has a 50-day simple moving average of $4.01 and a 200-day simple moving average of $6.02.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its quarterly earnings data 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 research analysts forecast that Terns Pharmaceuticals will post -1.19 EPS for the current 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.