Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Receives $15.90 Average Target Price from Analysts

Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Get Free Report) have earned a consensus rating of "Moderate Buy" from the six research firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $26.92.

Several research firms have issued reports on TERN. BMO Capital Markets reaffirmed an "outperform" rating and set a $26.00 price target (up from $19.00) on shares of Terns Pharmaceuticals in a research note on Monday, September 16th. JMP Securities raised their price target on shares of Terns Pharmaceuticals from $15.00 to $20.00 and gave the stock a "market outperform" rating in a research note on Tuesday, September 10th. Finally, Oppenheimer began coverage on shares of Terns Pharmaceuticals in a research note on Thursday. They set an "outperform" rating and a $82.00 price target on the stock.

Insider Transactions at Terns Pharmaceuticals

In other news, CFO Mark J. Vignola sold 10,000 shares of the stock in a transaction dated 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 $1,011,340. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Mark J. Vignola sold 10,000 shares of the stock in a transaction dated 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 $1,011,340. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jill M. Quigley sold 17,235 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $10.00, for a total transaction of $172,350.00. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $150,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 15.10% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its holdings in Terns Pharmaceuticals by 12.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,694 shares of the company's stock valued at $136,000 after buying an additional 2,261 shares during the period. Bleakley Financial Group LLC raised its holdings in Terns Pharmaceuticals by 26.0% in the third quarter. Bleakley Financial Group LLC now owns 13,312 shares of the company's stock valued at $111,000 after buying an additional 2,751 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Terns Pharmaceuticals by 28.7% in the second quarter. The Manufacturers Life Insurance Company now owns 22,645 shares of the company's stock valued at $154,000 after buying an additional 5,049 shares during the period. Creative Planning raised its holdings in Terns Pharmaceuticals by 27.2% in the third quarter. Creative Planning now owns 25,310 shares of the company's stock valued at $211,000 after buying an additional 5,409 shares during the period. Finally, nVerses Capital LLC purchased a new position in Terns Pharmaceuticals in the third quarter valued at approximately $48,000. Hedge funds and other institutional investors own 98.26% of the company's stock.

Terns Pharmaceuticals Stock Performance

NASDAQ TERN traded down $0.03 during trading hours on Thursday, reaching $6.86. The company's stock had a trading volume of 1,247,339 shares, compared to its average volume of 1,286,058. The stock has a market cap of $482.50 million, a PE ratio of -5.20 and a beta of -0.36. Terns Pharmaceuticals has a fifty-two week low of $3.26 and a fifty-two week high of $11.40. The company's 50-day moving average is $8.19 and its two-hundred day moving average is $7.29.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last issued its quarterly earnings data on Monday, August 5th. The company reported ($0.31) EPS for the quarter, beating analysts' consensus estimates of ($0.35) by $0.04. Equities analysts expect that Terns Pharmaceuticals will post -1.31 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.