Terns Pharmaceuticals (NASDAQ:TERN) Reaches New 1-Year High – Should You Buy?

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) shares reached a new 52-week high during trading on Friday . The company traded as high as $49.53 and last traded at $49.13, with a volume of 3613141 shares changing hands. The stock had previously closed at $47.78.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Truist Financial raised their target price on Terns Pharmaceuticals from $35.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, December 9th. UBS Group upgraded Terns Pharmaceuticals to a “strong-buy” rating in a report on Thursday, December 4th. Wall Street Zen downgraded Terns Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday. Leerink Partners assumed coverage on shares of Terns Pharmaceuticals in a research report on Monday, February 9th. They issued an “outperform” rating and a $58.00 target price on the stock. Finally, BMO Capital Markets increased their target price on shares of Terns Pharmaceuticals from $35.00 to $54.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 9th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $58.11.

Terns Pharmaceuticals Price Performance

The company’s 50 day simple moving average is $39.70 and its 200 day simple moving average is $27.66. The firm has a market cap of $5.03 billion, a price-to-earnings ratio of -47.03 and a beta of -0.31.

Insider Buying and Selling at Terns Pharmaceuticals

In other Terns Pharmaceuticals news, CEO Amy L. Burroughs sold 71,339 shares of the company’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $38.10, for a total transaction of $2,718,015.90. Following the sale, the chief executive officer owned 138,976 shares in the company, valued at $5,294,985.60. This represents a 33.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Emil Kuriakose sold 1,155 shares of Terns Pharmaceuticals stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $38.57, for a total value of $44,548.35. Following the completion of the transaction, the insider owned 50,365 shares of the company’s stock, valued at $1,942,578.05. The trade was a 2.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 170,409 shares of company stock valued at $6,563,769 over the last three months. 1.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Terns Pharmaceuticals

Several hedge funds have recently made changes to their positions in TERN. Commodore Capital LP purchased a new stake in shares of Terns Pharmaceuticals in the 3rd quarter valued at about $42,807,000. Vestal Point Capital LP purchased a new position in Terns Pharmaceuticals during the 4th quarter worth approximately $181,800,000. Avoro Capital Advisors LLC purchased a new position in Terns Pharmaceuticals during the 4th quarter worth approximately $175,740,000. Janus Henderson Group PLC acquired a new position in Terns Pharmaceuticals during the fourth quarter worth approximately $136,496,000. Finally, Capitolis Liquid Global Markets LLC purchased a new stake in Terns Pharmaceuticals in the fourth quarter valued at approximately $123,026,000. Hedge funds and other institutional investors own 98.26% of the company’s stock.

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.