Brokerages Set Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Target Price at $14.94

Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) have received a consensus recommendation of “Moderate Buy” from the eight research firms that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $14.94.

A number of equities research analysts have recently issued reports on the company. HC Wainwright reiterated a “neutral” rating and issued a $5.50 target price on shares of Terns Pharmaceuticals in a research note on Tuesday. JMP Securities reiterated a “market outperform” rating and issued a $15.00 price target on shares of Terns Pharmaceuticals in a report on Tuesday. UBS Group lowered their target price on shares of Terns Pharmaceuticals from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, March 27th. Finally, BMO Capital Markets upped their price objective on Terns Pharmaceuticals from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Friday, March 15th.

Terns Pharmaceuticals Stock Performance

Shares of TERN stock opened at $5.08 on Thursday. Terns Pharmaceuticals has a 1 year low of $3.26 and a 1 year high of $13.51. The stock has a market cap of $328.55 million, a PE ratio of -4.00 and a beta of -0.63. The stock has a fifty day moving average price of $6.23 and a 200 day moving average price of $5.84.

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

Insider Activity at Terns Pharmaceuticals

In other Terns Pharmaceuticals news, major shareholder Vivo Opportunity, Llc sold 138,066 shares of the business’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $6.20, for a total transaction of $856,009.20. Following the completion of the transaction, the insider now owns 268,573 shares in the company, valued at approximately $1,665,152.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 17.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Terns Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of TERN. Braidwell LP grew its position in Terns Pharmaceuticals by 54.2% in the 3rd quarter. Braidwell LP now owns 2,840,052 shares of the company’s stock valued at $14,285,000 after buying an additional 997,700 shares in the last quarter. Decheng Capital LLC bought a new position in shares of Terns Pharmaceuticals in the fourth quarter valued at approximately $4,636,000. Great Point Partners LLC boosted its holdings in shares of Terns Pharmaceuticals by 102.8% in the fourth quarter. Great Point Partners LLC now owns 1,309,975 shares of the company’s stock valued at $8,502,000 after acquiring an additional 664,076 shares in the last quarter. Affinity Asset Advisors LLC acquired a new position in shares of Terns Pharmaceuticals during the third quarter valued at approximately $1,635,000. Finally, Russell Investments Group Ltd. bought a new stake in Terns Pharmaceuticals during the fourth quarter worth approximately $1,803,000. 98.26% of the stock is currently owned by institutional investors.

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.