Terns Pharmaceuticals (NASDAQ:TERN) Announces Earnings Results

Terns Pharmaceuticals (NASDAQ:TERNGet Rating) announced its quarterly earnings results on Monday. The company reported ($0.55) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.09, MarketWatch Earnings reports.

Shares of TERN opened at $1.57 on Wednesday. Terns Pharmaceuticals has a 12-month low of $1.47 and a 12-month high of $19.97. The stock’s fifty day simple moving average is $2.41 and its 200-day simple moving average is $4.79. The firm has a market capitalization of $39.67 million, a PE ratio of -0.67 and a beta of 2.87.

Large investors have recently added to or reduced their stakes in the business. Citigroup Inc. lifted its stake in Terns Pharmaceuticals by 169.2% in the fourth quarter. Citigroup Inc. now owns 4,286 shares of the company’s stock valued at $30,000 after buying an additional 2,694 shares during the period. Wells Fargo & Company MN lifted its stake in Terns Pharmaceuticals by 36,426.7% in the fourth quarter. Wells Fargo & Company MN now owns 5,479 shares of the company’s stock valued at $39,000 after buying an additional 5,464 shares during the period. California State Teachers Retirement System lifted its stake in Terns Pharmaceuticals by 75.9% in the fourth quarter. California State Teachers Retirement System now owns 8,160 shares of the company’s stock valued at $58,000 after buying an additional 3,521 shares during the period. Bank of America Corp DE lifted its stake in Terns Pharmaceuticals by 67.3% in the fourth quarter. Bank of America Corp DE now owns 8,585 shares of the company’s stock valued at $61,000 after buying an additional 3,453 shares during the period. Finally, American International Group Inc. lifted its stake in Terns Pharmaceuticals by 53.7% in the third quarter. American International Group Inc. now owns 7,507 shares of the company’s stock valued at $78,000 after buying an additional 2,624 shares during the period. 80.21% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have recently commented on TERN. JPMorgan Chase & Co. cut Terns Pharmaceuticals from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $19.00 to $6.00 in a report on Wednesday, March 23rd. Zacks Investment Research raised Terns Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, March 26th.

About Terns Pharmaceuticals (Get Rating)

Terns Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops small-molecule single-agent and combination therapy candidates for the treatment of non-alcoholic steatohepatitis (NASH) and obesity. The company develops TERN-101, a liver-distributed and non-bile acid farnesoid X receptor agonist, which is in Phase IIa clinical trial for the treatment of NASH; and TERN-201, a vascular adhesion protein-1 inhibitor that is in Phase Ib clinical trial for the treatment of NASH.

Further Reading

Earnings History for Terns Pharmaceuticals (NASDAQ:TERN)

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