Analysts Set Terns Pharmaceuticals, Inc. (NASDAQ:TERN) PT at $15.63

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) has been assigned a consensus rating of “Moderate Buy” from the five brokerages that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $15.63.

TERN has been the topic of a number of analyst reports. JMP Securities reissued a “market outperform” rating and set a $20.00 target price on shares of Terns Pharmaceuticals in a report on Monday, April 21st. William Blair reissued a “market perform” rating on shares of Terns Pharmaceuticals in a report on Friday, March 21st. Finally, BMO Capital Markets lowered their target price on shares of Terns Pharmaceuticals from $26.00 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th.

Insider Transactions at Terns Pharmaceuticals

In related news, CFO Andrew Gengos bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 13th. The stock was bought at an average cost of $3.73 per share, for a total transaction of $37,300.00. Following the completion of the transaction, the chief financial officer now owns 10,000 shares of the company’s stock, valued at approximately $37,300. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Thrive Wealth Management LLC purchased a new position in Terns Pharmaceuticals in the first quarter worth $29,000. Vontobel Holding Ltd. purchased a new position in Terns Pharmaceuticals in the first quarter worth $39,000. Dynamic Technology Lab Private Ltd purchased a new position in Terns Pharmaceuticals in the first quarter worth $51,000. Landscape Capital Management L.L.C. purchased a new position in Terns Pharmaceuticals in the fourth quarter worth $73,000. Finally, Townsquare Capital LLC purchased a new position in Terns Pharmaceuticals in the fourth quarter worth $76,000. 98.26% of the stock is currently owned by hedge funds and other institutional investors.

Terns Pharmaceuticals Trading Up 3.4%

Terns Pharmaceuticals stock opened at $4.01 on Friday. Terns Pharmaceuticals has a 12 month low of $1.87 and a 12 month high of $11.40. The business’s 50 day simple moving average is $3.06 and its 200 day simple moving average is $3.99. The company has a market cap of $350.22 million, a price-to-earnings ratio of -3.40 and a beta of -0.18.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its earnings results on Thursday, May 8th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.03. As a group, equities research analysts forecast that Terns Pharmaceuticals will post -1.19 earnings per share for the current fiscal year.

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.