Analysts Set Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Price Target at $18.30

Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $18.30.

TERN has been the subject of a number of analyst reports. Oppenheimer boosted their price objective on Terns Pharmaceuticals from $17.00 to $20.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. HC Wainwright reiterated a "neutral" rating and issued a $7.50 price objective on shares of Terns Pharmaceuticals in a research report on Wednesday, December 4th. William Blair restated a "market perform" rating on shares of Terns Pharmaceuticals in a research report on Friday. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $20.00 price target on shares of Terns Pharmaceuticals in a report on Wednesday, December 4th.

Terns Pharmaceuticals Stock Down 5.4 %

TERN stock traded down $0.19 during trading on Tuesday, hitting $3.32. 803,634 shares of the company's stock traded hands, compared to its average volume of 1,401,415. The stock has a market capitalization of $282.00 million, a price-to-earnings ratio of -2.81 and a beta of -0.30. Terns Pharmaceuticals has a 52 week low of $3.08 and a 52 week high of $11.40. The stock has a fifty day moving average price of $4.01 and a two-hundred day moving average price of $6.02.

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Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.06. As a group, equities research analysts expect that Terns Pharmaceuticals will post -1.19 EPS for the current fiscal year.

Insider Activity

In other news, insider Emil Kuriakose sold 4,481 shares of Terns Pharmaceuticals stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $5.71, for a total transaction of $25,586.51. Following the transaction, the insider now directly owns 54,269 shares in the company, valued at approximately $309,875.99. This trade represents a 7.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jill M. Quigley sold 6,240 shares of the business's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $5.72, for a total value of $35,692.80. Following the completion of the sale, the director now directly owns 8,760 shares in the company, valued at $50,107.20. This represents a 41.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,669 shares of company stock worth $211,040 over the last three months. Corporate insiders own 15.10% of the company's stock.

Institutional Investors Weigh In On Terns Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of TERN. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Terns Pharmaceuticals during the 3rd quarter worth about $442,000. Intech Investment Management LLC acquired a new stake in shares of Terns Pharmaceuticals in the third quarter worth $145,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Terns Pharmaceuticals by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 154,714 shares of the company's stock valued at $1,290,000 after buying an additional 1,994 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Terns Pharmaceuticals by 191.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 66,100 shares of the company's stock worth $551,000 after acquiring an additional 43,455 shares in the last quarter. Finally, Quantbot Technologies LP boosted its position in Terns Pharmaceuticals by 3,114.6% during the 3rd quarter. Quantbot Technologies LP now owns 120,838 shares of the company's stock worth $1,008,000 after acquiring an additional 117,079 shares during the period. Institutional investors and hedge funds own 98.26% of the company's stock.

Terns Pharmaceuticals Company Profile

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.