Terns Pharmaceuticals (NASDAQ:TERN) Coverage Initiated by Analysts at Leerink Partners

Leerink Partners started coverage on shares of Terns Pharmaceuticals (NASDAQ:TERN) in a research report sent to investors on Monday morning, MarketBeat.com reports. The firm issued an outperform rating and a $58.00 price objective on the stock.

TERN has been the topic of a number of other reports. Oppenheimer raised their target price on Terns Pharmaceuticals from $28.00 to $58.00 and gave the stock an “outperform” rating in a report on Tuesday, December 9th. JMP Securities set a $35.00 target price on shares of Terns Pharmaceuticals in a report on Wednesday, November 26th. Mizuho raised their target price on shares of Terns Pharmaceuticals from $33.00 to $54.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 9th. Truist Financial upped their price target on shares of Terns Pharmaceuticals from $35.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, December 9th. Finally, Citizens Jmp raised their price objective on shares of Terns Pharmaceuticals from $35.00 to $57.00 and gave the company a “market outperform” rating in a research report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $55.80.

Terns Pharmaceuticals Price Performance

Shares of TERN opened at $37.98 on Monday. The firm has a market capitalization of $3.42 billion, a P/E ratio of -36.87 and a beta of -0.28. Terns Pharmaceuticals has a one year low of $1.87 and a one year high of $48.26. The business has a fifty day moving average of $37.88 and a 200 day moving average of $20.46.

Terns Pharmaceuticals (NASDAQ:TERN) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.03. Analysts expect that Terns Pharmaceuticals will post -1.19 EPS for the current fiscal year.

Insider Activity

In other Terns Pharmaceuticals news, insider Emil Kuriakose sold 1,155 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $38.57, for a total transaction of $44,548.35. Following the completion of the transaction, the insider owned 50,365 shares in the company, valued at $1,942,578.05. This trade represents a 2.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Amy L. Burroughs sold 71,339 shares of Terns Pharmaceuticals stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $38.10, for a total value of $2,718,015.90. Following the completion of the sale, the chief executive officer directly owned 138,976 shares in the company, valued at approximately $5,294,985.60. The trade was a 33.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 141,243 shares of company stock valued at $5,311,090 in the last three months. Insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC lifted its position in Terns Pharmaceuticals by 762.4% during the fourth quarter. GAMMA Investing LLC now owns 871 shares of the company’s stock valued at $35,000 after purchasing an additional 770 shares during the last quarter. iA Global Asset Management Inc. purchased a new stake in shares of Terns Pharmaceuticals during the 4th quarter valued at about $43,000. FNY Investment Advisers LLC bought a new position in shares of Terns Pharmaceuticals in the 4th quarter valued at about $80,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Terns Pharmaceuticals by 61.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,207 shares of the company’s stock valued at $89,000 after acquiring an additional 841 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Terns Pharmaceuticals by 29.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,377 shares of the company’s stock worth $177,000 after acquiring an additional 994 shares in the last quarter. 98.26% of the stock is owned by hedge funds and other 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.