Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) have earned an average rating of “Moderate Buy” from the eight research firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $14.94.

A number of equities analysts have commented on the company. JMP Securities reissued a “market outperform” rating and set a $15.00 target price on shares of Terns Pharmaceuticals in a report on Tuesday, April 30th. BMO Capital Markets raised their price objective on Terns Pharmaceuticals from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, March 15th. HC Wainwright reaffirmed a “neutral” rating and set a $5.50 target price on shares of Terns Pharmaceuticals in a research note on Tuesday, May 14th. Finally, UBS Group reduced 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 report on Wednesday, March 27th.

Terns Pharmaceuticals Stock Performance

Shares of NASDAQ TERN opened at $6.00 on Monday. The firm has a market cap of $388.08 million, a PE ratio of -4.76 and a beta of -0.49. Terns Pharmaceuticals has a one year low of $3.26 and a one year high of $13.03. The firm has a fifty day moving average of $5.66 and a 200 day moving average of $5.91.

Terns Pharmaceuticals (NASDAQ:TERN) last released its quarterly earnings results on Thursday, March 14th. The company reported ($0.29) earnings per share for the quarter, hitting the consensus estimate of ($0.29). On average, equities analysts predict that Terns Pharmaceuticals will post -1.41 EPS for the current fiscal year.

Insider Transactions at Terns Pharmaceuticals

In related news, major shareholder Vivo Opportunity, Llc sold 138,066 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $6.20, for a total transaction of $856,009.20. Following the completion of the sale, the insider now directly owns 268,573 shares in the company, valued at $1,665,152.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 17.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TERN. Pale Fire Capital SE purchased a new position in shares of Terns Pharmaceuticals during the 3rd quarter worth $76,000. PEAK6 Investments LLC boosted its stake in Terns Pharmaceuticals by 35.5% during the third quarter. PEAK6 Investments LLC now owns 19,097 shares of the company’s stock worth $96,000 after buying an additional 5,000 shares during the period. Braidwell LP increased its position in shares of Terns Pharmaceuticals by 54.2% during the third quarter. Braidwell LP now owns 2,840,052 shares of the company’s stock valued at $14,285,000 after acquiring an additional 997,700 shares during the last quarter. Affinity Asset Advisors LLC purchased a new stake in shares of Terns Pharmaceuticals in the 3rd quarter valued at approximately $1,635,000. Finally, Graham Capital Management L.P. lifted its holdings in shares of Terns Pharmaceuticals by 186.3% in the 3rd quarter. Graham Capital Management L.P. now owns 82,978 shares of the company’s stock worth $417,000 after acquiring an additional 53,998 shares during the last quarter. 98.26% of the stock is currently owned by hedge funds and other 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.