Terns Pharmaceuticals (NASDAQ:TERN) Releases Earnings Results, Beats Estimates By $0.06 EPS

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) issued its quarterly earnings results on Thursday. The company reported ($0.24) EPS for the quarter, topping analysts' consensus estimates of ($0.30) by $0.06, Zacks reports.

Terns Pharmaceuticals Stock Performance

Shares of Terns Pharmaceuticals stock traded up $0.16 on Monday, reaching $3.51. 992,435 shares of the company's stock were exchanged, compared to its average volume of 1,398,451. The company has a market capitalization of $298.14 million, a P/E ratio of -2.97 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 firm's 50-day moving average is $4.04 and its two-hundred day moving average is $6.05.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. HC Wainwright reiterated a "neutral" rating and issued a $7.50 price target on shares of Terns Pharmaceuticals in a research report on Wednesday, December 4th. JMP Securities reiterated a "market outperform" rating and issued a $20.00 target price on shares of Terns Pharmaceuticals in a report on Wednesday, December 4th. Oppenheimer raised their price target on shares of Terns Pharmaceuticals from $17.00 to $20.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th. Finally, William Blair reiterated a "market perform" rating on shares of Terns Pharmaceuticals in a research report on Friday. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $18.30.

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Insider Activity at Terns Pharmaceuticals

In other Terns Pharmaceuticals news, CFO Mark J. Vignola sold 9,059 shares of Terns Pharmaceuticals stock in a transaction on Monday, January 6th. The shares were sold at an average price of $5.80, for a total value of $52,542.20. Following the completion of the sale, the chief financial officer now directly owns 74,752 shares of the company's stock, valued at approximately $433,561.60. The trade was a 10.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jill M. Quigley sold 8,760 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $5.79, for a total transaction of $50,720.40. The disclosure for this sale can be found here. Insiders have sold 36,669 shares of company stock worth $211,040 in the last quarter. Company insiders own 15.10% 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.