Terns Pharmaceuticals (NASDAQ:TERN) Receives “Hold” Rating from TD Cowen

TD Cowen reaffirmed their hold rating on shares of Terns Pharmaceuticals (NASDAQ:TERN) in a research report released on Thursday morning,Benzinga reports. TD Cowen currently has a $53.00 price objective on the stock.

Other equities analysts have also recently issued research reports about the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Terns Pharmaceuticals in a research note on Monday, December 29th. Wall Street Zen lowered shares of Terns Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. Oppenheimer lifted their target price on shares of Terns Pharmaceuticals from $28.00 to $58.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 9th. Jefferies Financial Group restated a “buy” rating and set a $70.00 price target on shares of Terns Pharmaceuticals in a report on Wednesday, December 10th. Finally, BMO Capital Markets upped their price target on shares of Terns Pharmaceuticals from $35.00 to $54.00 and gave the company an “outperform” rating in a research report on Tuesday, December 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Terns Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $56.90.

Terns Pharmaceuticals Stock Up 0.6%

Shares of Terns Pharmaceuticals stock opened at $53.17 on Thursday. Terns Pharmaceuticals has a 12-month low of $1.87 and a 12-month high of $53.19. The firm has a market capitalization of $5.52 billion, a PE ratio of -51.62 and a beta of -0.31. The stock’s fifty day moving average is $40.96 and its 200-day moving average is $28.74.

Insider Activity

In other Terns Pharmaceuticals news, 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 transaction, the chief executive officer owned 288,976 shares of the company’s stock, valued at $13,498,068.96. The trade was a 4.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Emil Kuriakose sold 1,155 shares of the company’s 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 in the company, valued at $1,942,578.05. This represents a 2.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 170,409 shares of company stock valued at $6,563,769. Company insiders own 1.50% of the company’s stock.

Institutional Trading of Terns Pharmaceuticals

Several institutional investors have recently made changes to their positions in TERN. AlphaQuest LLC increased its stake in Terns Pharmaceuticals by 9,088,200.0% in the 3rd quarter. AlphaQuest LLC now owns 90,883 shares of the company’s stock valued at $683,000 after buying an additional 90,882 shares during the period. Dynamic Technology Lab Private Ltd lifted its position in Terns Pharmaceuticals by 237.2% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 66,576 shares of the company’s stock worth $500,000 after buying an additional 46,831 shares in the last quarter. DLD Asset Management LP acquired a new stake in shares of Terns Pharmaceuticals during the 2nd quarter valued at $138,000. Commodore Capital LP purchased a new position in shares of Terns Pharmaceuticals during the 3rd quarter valued at $42,807,000. Finally, Franklin Resources Inc. purchased a new position in shares of Terns Pharmaceuticals during the 2nd quarter valued at $4,765,000. 98.26% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Terns Pharmaceuticals

Here are the key news stories impacting Terns Pharmaceuticals this week:

• Positive Sentiment: Merck agreed to buy Terns for $53.00 per share in cash, valuing the company at about $6.7 billion — investors view this as a strong exit valuation and strategic validation of Terns’ lead hematology asset, TERN‑701. Merck to Acquire Terns — Business Wire
• Positive Sentiment: Market reaction: shares traded with far above‑average volume and hit a new 52‑week high as the deal priced a near‑term valuation floor for shareholders. Terns Hits New 52‑Week High — American Banking News
• Neutral Sentiment: Deal mechanics and timing — Merck’s agreement is structured as a tender offer subject to customary conditions and shareholder participation; closing was guided for Q2 2026, so completion risk and timeline remain relevant. Merck Buyout Coverage — Reuters
• Neutral Sentiment: Analyst posture unchanged around the deal: several firms (HC Wainwright, TD Cowen, Citizens/JMP) reaffirmed neutral/hold ratings or price targets very close to the $53 offer price, implying limited upside beyond the bid while the transaction is pending. Analyst Notes & Ratings — MarketBeat
• Negative Sentiment: Litigation/investigations: multiple shareholder law firms have launched probes into whether the $53 per‑share price and sale process were fair — these challenges could delay closing, increase transaction costs, or pressure the timeline. Investor Alert — Kahn Swick & Foti (Business Wire)

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.