Terns Pharmaceuticals (NASDAQ:TERN) Given Market Perform Rating at Oppenheimer

Oppenheimer reiterated their market perform rating on shares of Terns Pharmaceuticals (NASDAQ:TERN) in a research report sent to investors on Monday morning,Benzinga reports. They currently have a $58.00 target price on the stock.

TERN has been the subject of a number of other reports. TD Cowen cut shares of Terns Pharmaceuticals from a “buy” rating to a “hold” rating and set a $53.00 price target for the company. in a research report on Thursday, March 26th. Weiss Ratings reissued a “sell (e+)” rating on shares of Terns Pharmaceuticals in a research report on Friday, March 27th. Mizuho set a $53.00 price target on shares of Terns Pharmaceuticals in a research report on Friday, March 27th. Wall Street Zen cut shares of Terns Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Finally, BMO Capital Markets cut shares of Terns Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $55.14.

Terns Pharmaceuticals Trading Up 0.1%

Shares of TERN opened at $52.96 on Monday. The firm’s 50-day moving average price is $48.13 and its 200-day moving average price is $36.02. The firm has a market capitalization of $6.11 billion, a price-to-earnings ratio of -51.41 and a beta of -0.37. Terns Pharmaceuticals has a 1-year low of $2.65 and a 1-year high of $53.19.

Terns Pharmaceuticals (NASDAQ:TERN) last announced its earnings results on Monday, March 30th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.06. On average, research analysts forecast that Terns Pharmaceuticals will post -1.07 EPS for the current fiscal year.

Insider Activity

In other Terns Pharmaceuticals news, insider Emil Kuriakose sold 942 shares of Terns Pharmaceuticals 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 completion of the transaction, the insider directly owned 105,673 shares of the company’s stock, valued at approximately $5,574,250.75. The trade was a 0.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Amy L. Burroughs sold 14,583 shares of Terns Pharmaceuticals 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 transaction, the chief executive officer directly owned 288,976 shares of the company’s stock, valued at $13,498,068.96. This trade represents a 4.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 30,108 shares of company stock valued at $1,302,370 over the last ninety days. Corporate insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Chicago Capital Management LLC purchased a new position in Terns Pharmaceuticals in the first quarter worth about $6,813,000. Pictet Asset Management Holding SA raised its holdings in Terns Pharmaceuticals by 5.0% in the first quarter. Pictet Asset Management Holding SA now owns 1,655,575 shares of the company’s stock worth $87,290,000 after buying an additional 78,459 shares during the last quarter. Total Clarity Wealth Management Inc. purchased a new position in Terns Pharmaceuticals in the first quarter worth about $208,000. E. Ohman J or Asset Management AB raised its holdings in Terns Pharmaceuticals by 4.5% in the first quarter. E. Ohman J or Asset Management AB now owns 22,152 shares of the company’s stock worth $1,168,000 after buying an additional 950 shares during the last quarter. Finally, Avoro Capital Advisors LLC purchased a new position in Terns Pharmaceuticals in the fourth quarter worth about $175,740,000. 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.