Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Receives $14.94 Average PT from Brokerages

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) has been assigned an average rating of “Moderate Buy” from the eight research firms that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $14.94.

A number of research analysts have recently commented on TERN shares. UBS Group lowered their price objective on Terns Pharmaceuticals from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, March 27th. BMO Capital Markets increased their price target on Terns Pharmaceuticals from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, March 15th. JMP Securities dropped their price target on shares of Terns Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating on the stock in a research report on Monday, March 18th. Finally, HC Wainwright reaffirmed a “neutral” rating and set a $5.50 price objective on shares of Terns Pharmaceuticals in a report on Friday, March 15th.

Insider Activity

In other news, major shareholder Vivo Opportunity, Llc sold 181,117 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $6.99, for a total value of $1,266,007.83. Following the sale, the insider now owns 275,772 shares in the company, valued at $1,927,646.28. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 17.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Terns Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. increased its stake in Terns Pharmaceuticals by 358.1% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 7,147 shares of the company’s stock valued at $46,000 after acquiring an additional 5,587 shares during the period. AJOVista LLC bought a new stake in shares of Terns Pharmaceuticals during the fourth quarter valued at approximately $58,000. Simplicity Solutions LLC acquired a new position in shares of Terns Pharmaceuticals in the fourth quarter valued at $68,000. Bleakley Financial Group LLC acquired a new position in shares of Terns Pharmaceuticals in the fourth quarter valued at $68,000. Finally, Pale Fire Capital SE bought a new position in Terns Pharmaceuticals in the third quarter worth $76,000. Institutional investors own 98.26% of the company’s stock.

Terns Pharmaceuticals Stock Up 5.8 %

Shares of TERN opened at $4.91 on Thursday. The firm has a market cap of $317.43 million, a price-to-earnings ratio of -3.87 and a beta of -0.63. The company’s fifty day moving average is $6.39 and its 200-day moving average is $5.85. Terns Pharmaceuticals has a 12 month low of $3.26 and a 12 month high of $13.51.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its quarterly earnings data on Thursday, March 14th. The company reported ($0.29) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.29). As a group, research analysts predict that Terns Pharmaceuticals will post -1.46 earnings per share for the current fiscal year.

Terns Pharmaceuticals Company Profile

Terns Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops small-molecule product candidates for the treatment of oncology, metabolic dysfunction-associated steatohepatitis (MASH), and obesity. The company develops TERN-701, an allosteric BCR-ABL tyrosine kinase inhibitor (TKI) that is in phase 1 clinical trial for chronic myeloid leukemia (CML), a form of cancer that starts in bone marrow.