Terns Pharmaceuticals (NASDAQ:TERN) Stock Rating Lowered by William Blair

Terns Pharmaceuticals (NASDAQ:TERN) was downgraded by investment analysts at William Blair from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

Several other brokerages have also weighed in on TERN. Truist Financial lowered shares of Terns Pharmaceuticals from a “buy” rating to a “hold” rating and cut their price objective for the stock from $56.00 to $53.00 in a report on Tuesday, March 31st. Wall Street Zen lowered shares of Terns Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Leerink Partners downgraded shares of Terns Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. BMO Capital Markets lowered shares of Terns Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Finally, Mizuho downgraded Terns Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $56.30.

Terns Pharmaceuticals Stock Up 0.1%

Shares of NASDAQ:TERN opened at $52.66 on Tuesday. The company has a market cap of $6.08 billion, a P/E ratio of -51.13 and a beta of -0.37. The business has a fifty day simple moving average of $44.04 and a 200-day simple moving average of $31.74. Terns Pharmaceuticals has a 52 week low of $1.94 and a 52 week high of $53.19.

Terns Pharmaceuticals (NASDAQ:TERN) last released its earnings results on Thursday, April 2nd. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.06. Sell-side analysts expect that Terns Pharmaceuticals will post -1.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Terns Pharmaceuticals news, insider Emil Kuriakose sold 942 shares of Terns Pharmaceuticals stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $52.75, for a total transaction of $49,690.50. Following the transaction, the insider directly owned 105,673 shares of the company’s stock, valued at $5,574,250.75. The trade was a 0.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Amy L. Burroughs sold 68,749 shares of the stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $37.07, for a total transaction of $2,548,525.43. Following the completion of the sale, the chief executive officer directly owned 288,976 shares of the company’s stock, valued at $10,712,340.32. The trade was a 19.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 98,857 shares of company stock worth $3,850,896. 1.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TERN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Terns Pharmaceuticals in the fourth quarter valued at about $25,000. GAMMA Investing LLC boosted its holdings in Terns Pharmaceuticals by 762.4% in the 4th quarter. GAMMA Investing LLC now owns 871 shares of the company’s stock worth $35,000 after acquiring an additional 770 shares during the period. EverSource Wealth Advisors LLC grew its position in Terns Pharmaceuticals by 61.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,207 shares of the company’s stock valued at $89,000 after acquiring an additional 841 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of Terns Pharmaceuticals by 5.1% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 18,555 shares of the company’s stock valued at $750,000 after purchasing an additional 906 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Terns Pharmaceuticals by 29.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,377 shares of the company’s stock valued at $177,000 after purchasing an additional 994 shares during the period. Institutional investors and hedge funds own 98.26% of the company’s stock.

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.