Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) has earned an average recommendation of “Moderate Buy” from the five research firms that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $15.63.

TERN has been the subject of several research analyst reports. JMP Securities reissued a “market outperform” rating and set a $20.00 price objective on shares of Terns Pharmaceuticals in a research report on Monday, April 21st. BMO Capital Markets cut their price objective on Terns Pharmaceuticals from $26.00 to $15.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th.

Insider Activity

In other news, CFO Andrew Gengos purchased 10,000 shares of the business’s stock in a transaction on Friday, June 27th. The stock was purchased at an average price of $3.93 per share, with a total value of $39,300.00. Following the acquisition, the chief financial officer directly owned 25,000 shares in the company, valued at approximately $98,250. The trade was a 66.67% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Amy L. Burroughs purchased 23,314 shares of the business’s stock in a transaction on Wednesday, June 25th. The stock was purchased at an average cost of $3.87 per share, with a total value of $90,225.18. Following the acquisition, the chief executive officer owned 47,083 shares in the company, valued at approximately $182,211.21. This represents a 98.09% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 48,314 shares of company stock valued at $186,575 in the last three months. 1.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Terns Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. Vontobel Holding Ltd. acquired a new position in Terns Pharmaceuticals in the 1st quarter valued at approximately $39,000. LPL Financial LLC grew its stake in shares of Terns Pharmaceuticals by 397.2% in the 4th quarter. LPL Financial LLC now owns 252,325 shares of the company’s stock valued at $1,398,000 after purchasing an additional 201,575 shares during the period. Norges Bank bought a new stake in shares of Terns Pharmaceuticals in the 4th quarter valued at approximately $4,706,000. Parkman Healthcare Partners LLC grew its stake in shares of Terns Pharmaceuticals by 51.9% in the 4th quarter. Parkman Healthcare Partners LLC now owns 829,105 shares of the company’s stock valued at $4,593,000 after purchasing an additional 283,354 shares during the period. Finally, Nuveen Asset Management LLC grew its stake in shares of Terns Pharmaceuticals by 30.6% in the 4th quarter. Nuveen Asset Management LLC now owns 2,633,918 shares of the company’s stock valued at $14,592,000 after purchasing an additional 617,009 shares during the period. Institutional investors and hedge funds own 98.26% of the company’s stock.

Terns Pharmaceuticals Price Performance

Shares of NASDAQ:TERN opened at $5.47 on Friday. Terns Pharmaceuticals has a fifty-two week low of $1.87 and a fifty-two week high of $11.40. The business has a 50-day moving average of $4.41 and a two-hundred day moving average of $3.74. The stock has a market capitalization of $477.75 million, a P/E ratio of -5.02 and a beta of -0.06.

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

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.