Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Receives Average Rating of "Moderate Buy" from Analysts

Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Get Free Report) has earned a consensus rating of "Moderate Buy" from the six analysts that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $27.25.

TERN has been the subject of a number of research analyst reports. HC Wainwright boosted their price target on Terns Pharmaceuticals from $5.50 to $7.50 and gave the company a "neutral" rating in a report on Wednesday, November 13th. BMO Capital Markets reiterated an "outperform" rating and issued a $26.00 price target (up from $19.00) on shares of Terns Pharmaceuticals in a report on Monday, September 16th. JMP Securities upped their price objective on 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 started coverage on Terns Pharmaceuticals in a research note on Thursday, October 31st. They set an "outperform" rating and a $82.00 price objective for the company.

Terns Pharmaceuticals Stock Performance

Shares of NASDAQ TERN remained flat at $5.79 during trading on Monday. The stock had a trading volume of 1,033,032 shares, compared to its average volume of 1,286,577. Terns Pharmaceuticals has a 1-year low of $3.68 and a 1-year high of $11.40. The firm has a market capitalization of $491.80 million, a PE ratio of -4.91 and a beta of -0.32. The stock has a 50 day simple moving average of $7.54 and a 200 day simple moving average of $7.50.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.28) earnings per share for the quarter, beating analysts' consensus estimates of ($0.33) by $0.05. On average, sell-side analysts expect that Terns Pharmaceuticals will post -1.22 earnings per share for the current year.

Insider Buying and Selling

In other Terns Pharmaceuticals news, Director Hongbo Lu purchased 476,190 shares of the firm's stock in a transaction dated Thursday, September 12th. The stock was bought at an average price of $10.50 per share, with a total value of $4,999,995.00. Following the completion of the purchase, the director now owns 476,190 shares in the company, valued at $4,999,995. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark J. Vignola sold 10,000 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $11.00, for a total value of $110,000.00. Following the completion of the transaction, the chief financial officer now directly owns 91,940 shares of the company's stock, valued at approximately $1,011,340. The trade was a 9.81 % decrease in their position. The disclosure for this sale can be found here. 15.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of TERN. Virtu Financial LLC lifted its holdings in shares of Terns Pharmaceuticals by 110.2% in the third quarter. Virtu Financial LLC now owns 62,216 shares of the company's stock valued at $519,000 after buying an additional 32,624 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Terns Pharmaceuticals by 7.6% in the third quarter. Geode Capital Management LLC now owns 1,207,479 shares of the company's stock valued at $10,072,000 after buying an additional 85,617 shares during the period. XTX Topco Ltd acquired a new stake in shares of Terns Pharmaceuticals in the third quarter valued at $148,000. Point72 Asset Management L.P. lifted its holdings in shares of Terns Pharmaceuticals by 0.6% in the third quarter. Point72 Asset Management L.P. now owns 2,707,515 shares of the company's stock valued at $22,581,000 after buying an additional 17,139 shares during the period. Finally, Polymer Capital Management HK LTD acquired a new stake in shares of Terns Pharmaceuticals in the third quarter valued at $200,000. 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.