Terns Pharmaceuticals (NASDAQ:TERN) Research Coverage Started at Barclays

Barclays assumed coverage on shares of Terns Pharmaceuticals (NASDAQ:TERN) in a research report report published on Tuesday morning, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $15.00 price objective on the stock.

Separately, HC Wainwright initiated coverage on Terns Pharmaceuticals in a research note on Thursday, September 4th. They issued a “neutral” rating and a $7.44 price objective for the company. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.49.

Terns Pharmaceuticals Price Performance

NASDAQ TERN opened at $8.18 on Tuesday. Terns Pharmaceuticals has a 1-year low of $1.87 and a 1-year high of $10.70. The company has a market capitalization of $715.83 million, a P/E ratio of -7.87 and a beta of -0.04. The business has a 50 day moving average price of $6.48 and a 200 day moving average price of $4.36.

Terns Pharmaceuticals (NASDAQ:TERN) last released its quarterly earnings data on Tuesday, August 5th. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.02. On average, research analysts expect that Terns Pharmaceuticals will post -1.19 earnings per share for the current fiscal year.

Insider Buying and Selling at Terns Pharmaceuticals

In related news, CFO Andrew Gengos purchased 10,000 shares of the company’s stock in a transaction on Friday, June 27th. The stock was bought at an average price of $3.93 per share, with a total value of $39,300.00. Following the completion of the transaction, the chief financial officer owned 25,000 shares of the company’s stock, valued at approximately $98,250. This represents a 66.67% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Amy L. Burroughs purchased 23,314 shares of the company’s stock in a transaction on Wednesday, June 25th. The shares were bought at an average cost of $3.87 per share, with a total value of $90,225.18. Following the transaction, the chief executive officer directly owned 47,083 shares of the company’s stock, valued at $182,211.21. This represents a 98.09% increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Terns Pharmaceuticals

Several hedge funds have recently bought and sold shares of the stock. Thrive Wealth Management LLC purchased a new stake in shares of Terns Pharmaceuticals in the first quarter valued at $29,000. Vontobel Holding Ltd. purchased a new stake in shares of Terns Pharmaceuticals in the first quarter valued at $39,000. Engineers Gate Manager LP purchased a new stake in shares of Terns Pharmaceuticals in the second quarter valued at $41,000. Canada Pension Plan Investment Board purchased a new stake in shares of Terns Pharmaceuticals in the second quarter valued at $46,000. Finally, LeConte Wealth Management LLC purchased a new stake in shares of Terns Pharmaceuticals in the second quarter valued at $47,000. Hedge funds and other institutional investors own 98.26% of the company’s stock.

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.