Terns Pharmaceuticals (NASDAQ:TERN) Downgraded to “Hold” Rating by Leerink Partners

Leerink Partners cut shares of Terns Pharmaceuticals (NASDAQ:TERN) from a strong-buy rating to a hold rating in a research report released on Wednesday,Zacks.com reports.

Other equities analysts have also issued reports about the company. BMO Capital Markets lowered Terns Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Terns Pharmaceuticals in a research report on Friday, March 27th. HC Wainwright reiterated a “neutral” rating and issued a $53.00 price objective (down from $60.00) on shares of Terns Pharmaceuticals in a research report on Wednesday, March 25th. Citizens Jmp lowered Terns Pharmaceuticals from a “market outperform” rating to a “hold” rating in a research report on Thursday, March 26th. Finally, TD Cowen lowered Terns Pharmaceuticals from a “buy” rating to a “hold” rating and set a $53.00 price objective for the company. in a research report on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $56.30.

Terns Pharmaceuticals Price Performance

Terns Pharmaceuticals stock opened at $52.66 on Wednesday. The company’s 50 day simple moving average is $44.04 and its 200 day simple moving average is $31.74. Terns Pharmaceuticals has a fifty-two week low of $1.94 and a fifty-two week high of $53.19. The firm has a market capitalization of $6.08 billion, a price-to-earnings ratio of -51.13 and a beta of -0.37.

Terns Pharmaceuticals (NASDAQ:TERN) last released its quarterly earnings data 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. As a group, analysts predict that Terns Pharmaceuticals will post -1.19 EPS for the current fiscal year.

Insider Buying and Selling

In other Terns Pharmaceuticals news, CEO Amy L. Burroughs sold 68,749 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer owned 288,976 shares of the company’s stock, valued at $10,712,340.32. This represents a 19.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Emil Kuriakose sold 942 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $52.75, for a total value of $49,690.50. Following the transaction, the insider directly owned 105,673 shares of the company’s stock, valued at approximately $5,574,250.75. This trade represents a 0.88% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 98,857 shares of company stock valued at $3,850,896. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Terns Pharmaceuticals

A number of large investors have recently bought and sold shares of TERN. Commodore Capital LP acquired a new position in Terns Pharmaceuticals during the 3rd quarter worth approximately $42,807,000. Vestal Point Capital LP acquired a new position in Terns Pharmaceuticals during the 4th quarter worth approximately $181,800,000. Avoro Capital Advisors LLC acquired a new position in Terns Pharmaceuticals during the 4th quarter worth approximately $175,740,000. Janus Henderson Group PLC acquired a new position in Terns Pharmaceuticals during the 4th quarter worth approximately $136,496,000. Finally, Capitolis Liquid Global Markets LLC acquired a new position in Terns Pharmaceuticals during the 4th quarter worth approximately $123,026,000. 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.