Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) has earned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, eleven have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $55.5556.

A number of research analysts recently weighed in on the company. Wall Street Zen raised Terns Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. William Blair upgraded Terns Pharmaceuticals from a “market perform” rating to an “outperform” rating in a report on Monday, November 3rd. JMP Securities set a $35.00 target price on Terns Pharmaceuticals in a research report on Wednesday, November 26th. Jefferies Financial Group reissued a “buy” rating and issued a $70.00 price target on shares of Terns Pharmaceuticals in a research report on Wednesday, December 10th. Finally, Oppenheimer boosted their price target on shares of Terns Pharmaceuticals from $28.00 to $58.00 and gave the company an “outperform” rating in a research note on Tuesday, December 9th.

Terns Pharmaceuticals Stock Down 2.2%

Shares of NASDAQ TERN opened at $40.59 on Wednesday. The firm has a market cap of $3.66 billion, a PE ratio of -39.41 and a beta of -0.24. The company’s fifty day simple moving average is $27.70 and its 200 day simple moving average is $13.89. Terns Pharmaceuticals has a 12-month low of $1.87 and a 12-month high of $48.26.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.03. On average, equities analysts predict that Terns Pharmaceuticals will post -1.19 earnings per share for the current year.

Insider Activity

In other news, Director Jill M. Quigley sold 24,520 shares of the business’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $18.00, for a total transaction of $441,360.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.50% of the stock is owned by corporate insiders.

Institutional Trading of Terns Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Polymer Capital Management US LLC purchased a new stake in shares of Terns Pharmaceuticals in the third quarter worth approximately $76,000. Engineers Gate Manager LP purchased a new position in shares of Terns Pharmaceuticals during the second quarter valued at approximately $41,000. Fox Run Management L.L.C. bought a new stake in Terns Pharmaceuticals during the third quarter worth $87,000. Canada Pension Plan Investment Board purchased a new stake in Terns Pharmaceuticals in the 2nd quarter valued at $46,000. Finally, Oppenheimer & Co. Inc. bought a new position in Terns Pharmaceuticals during the 3rd quarter valued at $94,000. 98.26% of the stock is owned by institutional investors.

About Terns Pharmaceuticals

Terns Pharmaceuticals, Inc is a clinical‐stage biopharmaceutical company focused on developing oral small‐molecule therapies for the treatment of chronic liver diseases and other serious conditions. The company’s research and development efforts center on novel mechanisms of action designed to address the underlying causes of progressive liver disorders, including inflammation, fibrosis and metabolic dysregulation. By advancing targeted compounds that can be administered orally, Terns aims to offer patients more convenient and effective treatment options compared to injectable or biologic therapies.

The company’s pipeline features several candidates in various stages of preclinical and clinical evaluation.