Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) have been given a consensus recommendation of “Moderate Buy” by the five analysts that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $15.63.

A number of analysts have recently weighed in on the stock. BMO Capital Markets decreased their price target on shares of Terns Pharmaceuticals from $26.00 to $15.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. William Blair restated a “market perform” rating on shares of Terns Pharmaceuticals in a research note on Friday, March 21st. Finally, JMP Securities restated a “market outperform” rating and set a $20.00 price objective on shares of Terns Pharmaceuticals in a research note on Monday, April 21st.

Institutional Investors Weigh In On Terns Pharmaceuticals

Several institutional investors have recently made changes to their positions in TERN. Soleus Capital Management L.P. lifted its holdings in Terns Pharmaceuticals by 30.8% in the 4th quarter. Soleus Capital Management L.P. now owns 8,142,500 shares of the company’s stock worth $45,109,000 after purchasing an additional 1,918,956 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its holdings in Terns Pharmaceuticals by 44.4% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 4,751,506 shares of the company’s stock worth $26,323,000 after purchasing an additional 1,461,680 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Terns Pharmaceuticals by 15.3% in the 4th quarter. Vanguard Group Inc. now owns 3,869,582 shares of the company’s stock worth $21,437,000 after purchasing an additional 512,768 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in Terns Pharmaceuticals by 30.6% in the 4th quarter. Nuveen Asset Management LLC now owns 2,633,918 shares of the company’s stock worth $14,592,000 after purchasing an additional 617,009 shares during the last quarter. Finally, Candriam S.C.A. acquired a new stake in Terns Pharmaceuticals in the 4th quarter worth approximately $11,933,000. 98.26% of the stock is currently owned by institutional investors and hedge funds.

Terns Pharmaceuticals Price Performance

Shares of TERN stock opened at $3.88 on Friday. The firm has a market cap of $338.87 million, a P/E ratio of -3.29 and a beta of -0.18. Terns Pharmaceuticals has a 1-year low of $1.87 and a 1-year high of $11.40. The firm’s 50-day simple moving average is $3.02 and its 200-day simple moving average is $4.04.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its earnings results on Thursday, May 8th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.03. Analysts expect that Terns Pharmaceuticals will post -1.19 earnings per share for the current fiscal year.

About Terns Pharmaceuticals

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.