HC Wainwright Has Bullish Forecast for TERN FY2024 Earnings

Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) - HC Wainwright lifted their FY2024 EPS estimates for Terns Pharmaceuticals in a research note issued to investors on Wednesday, November 13th. HC Wainwright analyst E. Arce now forecasts that the company will post earnings per share of ($1.17) for the year, up from their prior forecast of ($1.36). HC Wainwright currently has a "Neutral" rating and a $7.50 price objective on the stock. The consensus estimate for Terns Pharmaceuticals' current full-year earnings is ($1.28) per share. HC Wainwright also issued estimates for Terns Pharmaceuticals' Q4 2024 earnings at ($0.28) EPS, Q2 2025 earnings at ($0.33) EPS, Q3 2025 earnings at ($0.37) EPS, Q4 2025 earnings at ($0.40) EPS, FY2025 earnings at ($1.41) EPS, FY2026 earnings at ($1.46) EPS, FY2027 earnings at ($1.58) EPS and FY2028 earnings at ($0.64) EPS.

TERN has been the subject of a number of other reports. JMP Securities lifted their price objective on Terns Pharmaceuticals from $15.00 to $20.00 and gave the company a "market outperform" rating in a research note on Tuesday, September 10th. Oppenheimer started coverage on Terns Pharmaceuticals in a research report on Thursday, October 31st. They issued an "outperform" rating and a $82.00 target price for the company. Finally, BMO Capital Markets reissued an "outperform" rating and issued a $26.00 price objective (up previously from $19.00) on shares of Terns Pharmaceuticals in a research note on Monday, September 16th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.25.

Terns Pharmaceuticals Trading Down 5.8 %

Terns Pharmaceuticals stock traded down $0.38 during trading on Friday, hitting $6.17. The company had a trading volume of 1,692,848 shares, compared to its average volume of 1,281,979. The stock has a market cap of $524.07 million, a price-to-earnings ratio of -5.02 and a beta of -0.32. Terns Pharmaceuticals has a 1-year low of $3.59 and a 1-year high of $11.40. The company's 50 day simple moving average is $8.06 and its 200-day simple moving average is $7.46.

Institutional Investors Weigh In On Terns Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. nVerses Capital LLC purchased a new position in Terns Pharmaceuticals in the third quarter valued at approximately $48,000. Simplicity Wealth LLC purchased a new stake in shares of Terns Pharmaceuticals in the 2nd quarter valued at about $72,000. Sio Capital Management LLC acquired a new position in Terns Pharmaceuticals during the third quarter worth approximately $83,000. Walleye Trading LLC purchased a new stake in Terns Pharmaceuticals in the first quarter valued at approximately $98,000. Finally, Kennedy Capital Management LLC acquired a new stake in shares of Terns Pharmaceuticals in the first quarter valued at approximately $101,000. Institutional investors and hedge funds own 98.26% of the company's stock.

Insider Transactions at Terns Pharmaceuticals

In other news, CFO Mark J. Vignola sold 10,000 shares of Terns Pharmaceuticals stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $11.00, for a total transaction of $110,000.00. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Hongbo Lu bought 476,190 shares of the company's stock in a transaction that occurred on Thursday, September 12th. The stock was acquired at an average cost of $10.50 per share, for a total transaction of $4,999,995.00. Following the acquisition, the director now directly owns 476,190 shares of the company's stock, valued at $4,999,995. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate 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.