Terns Pharmaceuticals’ (TERN) Equal Weight Rating Reaffirmed at Barclays

Barclays reissued their equal weight rating on shares of Terns Pharmaceuticals (NASDAQ:TERN) in a report issued on Monday morning,Benzinga reports. Barclays currently has a $53.00 target price on the stock, down from their previous target price of $56.00.

TERN has been the topic of several other research reports. TD Cowen lowered Terns Pharmaceuticals from a “buy” rating to a “hold” rating and set a $53.00 price target on the stock. in a report on Thursday, March 26th. HC Wainwright reissued 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. Weiss Ratings restated a “sell (e+)” rating on shares of Terns Pharmaceuticals in a research report on Friday. Citizens Jmp downgraded shares of Terns Pharmaceuticals from a “market outperform” rating to a “hold” rating in a research note on Thursday, March 26th. Finally, BMO Capital Markets boosted their target price on shares of Terns Pharmaceuticals from $35.00 to $54.00 and gave the company an “outperform” rating in a report on Tuesday, December 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Terns Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $56.60.

Terns Pharmaceuticals Stock Performance

NASDAQ TERN opened at $52.88 on Monday. The stock’s fifty day moving average is $41.61 and its two-hundred day moving average is $29.68. The firm has a market capitalization of $5.49 billion, a P/E ratio of -51.34 and a beta of -0.31. Terns Pharmaceuticals has a fifty-two week low of $1.87 and a fifty-two week high of $53.19.

Insiders Place Their Bets

In related news, CEO Amy L. Burroughs sold 71,339 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $38.10, for a total value of $2,718,015.90. Following 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. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $44,548.35. Following the completion of the transaction, the insider directly owned 50,365 shares in the company, 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. Over the last quarter, insiders have sold 170,409 shares of company stock valued at $6,563,769. Company insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Terns Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. Avoro Capital Advisors LLC acquired a new position in shares of Terns Pharmaceuticals in the 4th quarter worth approximately $175,740,000. Seven Fleet Capital Management LP purchased a new position in shares of Terns Pharmaceuticals during the 4th quarter worth approximately $1,491,000. Invesco Ltd. increased its holdings in Terns Pharmaceuticals by 26.9% in the 4th quarter. Invesco Ltd. now owns 606,247 shares of the company’s stock valued at $24,492,000 after purchasing an additional 128,573 shares during the last quarter. Mackenzie Financial Corp purchased a new stake in Terns Pharmaceuticals in the fourth quarter valued at approximately $215,000. Finally, NewEdge Advisors LLC raised its position in Terns Pharmaceuticals by 240.0% in the fourth quarter. NewEdge Advisors LLC now owns 9,173 shares of the company’s stock valued at $371,000 after purchasing an additional 6,475 shares during the period. 98.26% of the stock is currently owned by institutional investors and hedge funds.

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.