Terns Pharmaceuticals (NASDAQ:TERN) Lowered to Hold Rating by Mizuho

Mizuho downgraded shares of Terns Pharmaceuticals (NASDAQ:TERN) from a strong-buy rating to a hold rating in a research note published on Friday morning,Zacks.com reports.

TERN has been the subject of several other research reports. BMO Capital Markets raised their price objective on shares of Terns Pharmaceuticals from $35.00 to $54.00 and gave the company an “outperform” rating in a research report on Tuesday, December 9th. Citizens Jmp cut shares of Terns Pharmaceuticals from a “market outperform” rating to a “hold” rating in a research note on Thursday. Leerink Partners began coverage on shares of Terns Pharmaceuticals in a research report on Monday, February 9th. They issued an “outperform” rating and a $58.00 price objective for the company. TD Cowen lowered Terns Pharmaceuticals from a “buy” rating to a “hold” rating and set a $53.00 price objective on the stock. in a research report on Thursday. Finally, Jefferies Financial Group restated a “buy” rating and set a $70.00 target price on shares of Terns Pharmaceuticals in a research report on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.90.

Terns Pharmaceuticals Stock Performance

Shares of NASDAQ:TERN opened at $52.92 on Friday. Terns Pharmaceuticals has a twelve month low of $1.87 and a twelve month high of $53.19. The firm has a market cap of $5.49 billion, a PE ratio of -51.38 and a beta of -0.31. The business has a fifty day moving average of $41.28 and a 200-day moving average of $29.06.

Insider Activity at Terns Pharmaceuticals

In other Terns Pharmaceuticals news, insider Emil Kuriakose sold 1,155 shares of the company’s stock in a transaction on 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 sale, the insider owned 50,365 shares in the company, valued at approximately $1,942,578.05. The trade was a 2.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Amy L. Burroughs sold 71,339 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $38.10, for a total value of $2,718,015.90. Following the completion of the transaction, the chief executive officer owned 138,976 shares in the company, valued at $5,294,985.60. This represents a 33.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 170,409 shares of company stock worth $6,563,769 over the last 90 days. 1.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Terns Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TERN. Cubist Systematic Strategies LLC increased its stake in shares of Terns Pharmaceuticals by 136.8% in the 1st quarter. Cubist Systematic Strategies LLC now owns 28,327 shares of the company’s stock valued at $78,000 after acquiring an additional 16,363 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Terns Pharmaceuticals in the first quarter valued at approximately $51,000. Goldman Sachs Group Inc. increased its stake in Terns Pharmaceuticals by 21.0% in the first 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 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 purchasing an additional 59,145 shares during the period. Finally, Intech Investment Management LLC raised its holdings in 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 purchasing an additional 6,199 shares during the period. Institutional investors own 98.26% of the company’s stock.

Terns Pharmaceuticals News Summary

Here are the key news stories impacting Terns Pharmaceuticals this week:

• Positive Sentiment: Merck agreed to acquire Terns for about $6.7 billion in cash, bringing a late‑stage leukemia candidate into MRK’s oncology lineup—this deal narrative is the primary bullish catalyst supporting a sharp rally toward the $53 offer price. Merck to Buy Terns for $6.7 Billion to Grow in Blood Cancers
• Positive Sentiment: Analysts and news outlets emphasize Merck’s acquisition as strategic—adding a leukemia asset as Keytruda faces patent pressure—supporting upside sentiment for TERN shares. Merck to Boost Oncology Pipeline With $6.7B Terns Buyout, Stock Up
• Positive Sentiment: Market commentary notes a possible bidding‑war dynamic after the Merck approach, which can lift the stock above the announced offer if other suitors emerge. Merck’s deal for Terns sparks debate over a possible biotech bidding war
• Positive Sentiment: Market reaction has pushed TERN to a new 52‑week high as investors price in the deal and potential takeover premium. Terns Pharmaceuticals (NASDAQ:TERN) Hits New 52-Week High – Still a Buy?
• Neutral Sentiment: HC Wainwright reiterated a “Neutral” rating and published FY2030 estimates and a $53.00 price target—its view aligns with the announced cash price, leaving limited analyst upside ahead of deal closure. HC Wainwright Reaffirms Neutral Rating for Terns Pharmaceuticals (NASDAQ:TERN)
• Negative Sentiment: Unusually large put option activity was reported (7,719 puts, a ~96% increase vs. typical put volume), suggesting some traders are hedging or positioning for downside/uncertainty around deal terms or timing.
• Negative Sentiment: A shareholder law firm (Kahn Swick & Foti) opened an investigation into the adequacy of the $53 per‑share price and the sale process, which could lead to litigation or delay and adds execution risk. Terns Pharmaceuticals Investor Alert: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Terns Pharmaceuticals, Inc. – TERN
• Negative Sentiment: Several brokers trimmed coverage or lowered stances to “Hold” (Citizens/JMP, TD Cowen), reducing near‑term buy-side reinforcement; TD Cowen’s $53 target effectively prices the deal in with little upside. Benzinga

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.