Terns Pharmaceuticals (NASDAQ:TERN) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Terns Pharmaceuticals (NASDAQ:TERN) had its price target increased by JPMorgan Chase & Co. from $44.00 to $44.50 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential downside of 15.58% from the stock’s previous close.

TERN has been the subject of a number of other reports. HC Wainwright reiterated a “neutral” rating and issued a $53.00 price objective (down from $60.00) on shares of Terns Pharmaceuticals in a report on Wednesday, March 25th. William Blair cut Terns Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. BMO Capital Markets cut Terns Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Terns Pharmaceuticals in a report on Friday, March 27th. Finally, Citizens Jmp cut Terns Pharmaceuticals from a “market outperform” rating to a “hold” rating in a report on Thursday, March 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $55.14.

Terns Pharmaceuticals Stock Up 0.1%

TERN stock opened at $52.71 on Tuesday. The firm has a market capitalization of $6.08 billion, a PE ratio of -51.17 and a beta of -0.37. Terns Pharmaceuticals has a twelve month low of $2.21 and a twelve month high of $53.19. The stock has a 50-day simple moving average of $45.70 and a two-hundred day simple moving average of $33.32.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its earnings results on Thursday, April 2nd. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.06. On average, equities research analysts anticipate that Terns Pharmaceuticals will post -1.19 EPS for the current fiscal year.

Insider Activity

In related news, CEO Amy L. Burroughs sold 14,583 shares of the stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $46.71, for a total transaction of $681,171.93. Following the completion of the sale, the chief executive officer directly owned 288,976 shares in the company, valued at $13,498,068.96. This represents a 4.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Emil Kuriakose sold 942 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $52.75, for a total value of $49,690.50. Following the sale, the insider owned 105,673 shares of the company’s stock, valued at $5,574,250.75. This represents a 0.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 30,108 shares of company stock valued at $1,302,370 over the last 90 days. 1.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Terns Pharmaceuticals

Institutional investors have recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Terns Pharmaceuticals during the 4th quarter valued at about $25,000. GAMMA Investing LLC boosted its holdings in Terns Pharmaceuticals by 762.4% during the 4th quarter. GAMMA Investing LLC now owns 871 shares of the company’s stock valued at $35,000 after acquiring an additional 770 shares during the period. iA Global Asset Management Inc. purchased a new stake in Terns Pharmaceuticals during the 4th quarter valued at about $43,000. FNY Investment Advisers LLC purchased a new stake in Terns Pharmaceuticals during the 4th quarter valued at about $80,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Terns Pharmaceuticals by 61.6% during 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 period. 98.26% of the stock is currently owned by hedge funds and other institutional investors.

Terns Pharmaceuticals Company Profile

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.