Terns Pharmaceuticals (NASDAQ:TERN) Raised to “Strong-Buy” at TD Cowen

Terns Pharmaceuticals (NASDAQ:TERN) was upgraded by equities researchers at TD Cowen to a “strong-buy” rating in a report issued on Friday,Zacks.com reports.

TERN has been the subject of a number of other reports. Oppenheimer upped their target price on Terns Pharmaceuticals from $28.00 to $58.00 and gave the company an “outperform” rating in a research report on Tuesday, December 9th. UBS Group raised Terns Pharmaceuticals to a “strong-buy” rating in a research note on Thursday, December 4th. Barclays upped their price objective on shares of Terns Pharmaceuticals from $36.00 to $56.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 9th. Citigroup reissued an “outperform” rating on shares of Terns Pharmaceuticals in a report on Wednesday, November 26th. Finally, HC Wainwright boosted their target price on shares of Terns Pharmaceuticals from $20.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, December 9th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Terns Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $58.11.

Terns Pharmaceuticals Trading Down 0.6%

NASDAQ TERN opened at $39.23 on Friday. The company has a market cap of $4.07 billion, a price-to-earnings ratio of -38.09 and a beta of -0.28. The company has a 50 day moving average of $38.25 and a 200-day moving average of $22.30. Terns Pharmaceuticals has a 1-year low of $1.87 and a 1-year high of $48.26.

Insider Transactions at Terns Pharmaceuticals

In other news, insider Emil Kuriakose sold 1,155 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $38.57, for a total value of $44,548.35. Following the sale, the insider directly owned 50,365 shares in the company, valued at approximately $1,942,578.05. This trade represents a 2.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Amy L. Burroughs sold 71,339 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $38.10, for a total transaction of $2,718,015.90. Following the transaction, the chief executive officer owned 138,976 shares of the company’s stock, valued at approximately $5,294,985.60. This represents a 33.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 155,826 shares of company stock valued at $5,882,597 in the last three months. Company insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. AlphaQuest LLC raised its position in Terns Pharmaceuticals by 9,088,200.0% in the third quarter. AlphaQuest LLC now owns 90,883 shares of the company’s stock valued at $683,000 after purchasing an additional 90,882 shares during the last quarter. DLD Asset Management LP acquired a new position in shares of Terns Pharmaceuticals in the second quarter valued at approximately $138,000. Candriam S.C.A. raised its holdings in Terns Pharmaceuticals by 9.9% in the 2nd quarter. Candriam S.C.A. now owns 2,368,235 shares of the company’s stock valued at $8,834,000 after buying an additional 214,266 shares during the last quarter. Franklin Resources Inc. acquired a new stake in Terns Pharmaceuticals during the 2nd quarter worth approximately $4,765,000. Finally, Velan Capital Investment Management LP boosted its position in Terns Pharmaceuticals by 17.6% during the 2nd quarter. Velan Capital Investment Management LP now owns 20,000 shares of the company’s stock worth $75,000 after buying an additional 3,000 shares during the period. 98.26% of the stock is currently owned by institutional investors.

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.