Terns Pharmaceuticals (NASDAQ:TERN) Given “Hold” Rating at Truist Financial

Truist Financial reiterated their hold rating on shares of Terns Pharmaceuticals (NASDAQ:TERN) in a research report released on Tuesday,Benzinga reports. They currently have a $53.00 target price on the stock, down from their prior target price of $56.00.

A number of other equities analysts also recently issued reports on the stock. UBS Group upgraded shares of Terns Pharmaceuticals to a “strong-buy” rating in a research note on Thursday, December 4th. Wall Street Zen downgraded shares of Terns Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. Jefferies Financial Group reaffirmed a “buy” rating and set a $70.00 target price on shares of Terns Pharmaceuticals in a research report on Wednesday, December 10th. TD Cowen downgraded 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. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Terns Pharmaceuticals in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $56.30.

Terns Pharmaceuticals Price Performance

Shares of Terns Pharmaceuticals stock opened at $52.72 on Tuesday. Terns Pharmaceuticals has a 1 year low of $1.87 and a 1 year high of $53.19. The firm’s 50-day moving average is $41.93 and its two-hundred day moving average is $30.00. The stock has a market cap of $5.47 billion, a price-to-earnings ratio of -51.18 and a beta of -0.31.

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

Insiders Place Their Bets

In other Terns Pharmaceuticals news, CEO Amy L. Burroughs sold 14,583 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $46.71, for a total value of $681,171.93. Following the completion of the sale, the chief executive officer owned 288,976 shares of the company’s stock, valued at approximately $13,498,068.96. This trade represents a 4.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Emil Kuriakose sold 1,155 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $38.57, for a total value of $44,548.35. Following the completion of the sale, the insider directly owned 50,365 shares of the company’s stock, valued at approximately $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. Insiders sold a total of 170,409 shares of company stock valued at $6,563,769 in the last three months. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Terns Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Cubist Systematic Strategies LLC boosted its stake in Terns Pharmaceuticals by 136.8% in the 1st quarter. Cubist Systematic Strategies LLC now owns 28,327 shares of the company’s stock worth $78,000 after purchasing an additional 16,363 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Terns Pharmaceuticals during the 1st quarter valued at approximately $51,000. Goldman Sachs Group Inc. increased its stake in Terns Pharmaceuticals by 21.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 415,021 shares of the company’s stock valued at $1,145,000 after purchasing an additional 71,971 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Terns Pharmaceuticals by 3.8% in the second quarter. Geode Capital Management LLC now owns 1,633,349 shares of the company’s stock worth $6,094,000 after buying an additional 59,145 shares during the last quarter. Finally, Intech Investment Management LLC raised its holdings in shares of Terns Pharmaceuticals by 15.5% in the second quarter. Intech Investment Management LLC now owns 46,121 shares of the company’s stock worth $172,000 after buying an additional 6,199 shares during the last quarter. 98.26% of the stock is 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.