Terns Pharmaceuticals (NASDAQ:TERN) Shares Up 10.4% – Time to Buy?

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) shares rose 10.4% on Wednesday . The stock traded as high as $37.14 and last traded at $38.03. Approximately 1,161,396 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 2,321,958 shares. The stock had previously closed at $34.45.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on TERN shares. Mizuho increased their target price on shares of Terns Pharmaceuticals from $33.00 to $54.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 9th. HC Wainwright lifted their price objective on shares of Terns Pharmaceuticals from $20.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. Citigroup restated an “outperform” rating on shares of Terns Pharmaceuticals in a research report on Wednesday, November 26th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Terns Pharmaceuticals in a report on Monday, December 29th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $70.00 price target on shares of Terns Pharmaceuticals in a research report on Wednesday, December 10th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Terns Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $55.56.

Terns Pharmaceuticals Stock Performance

The business’s 50-day moving average price is $34.51 and its 200 day moving average price is $16.80. The stock has a market capitalization of $3.30 billion, a PE ratio of -35.53 and a beta of -0.28.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its quarterly earnings data on Monday, November 10th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.03. As a group, equities research analysts predict that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Jill M. Quigley sold 24,520 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $18.00, for a total transaction of $441,360.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Emil Kuriakose sold 1,155 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $38.57, for a total value of $44,548.35. Following the completion of the sale, the insider directly owned 50,365 shares of the company’s stock, valued at approximately $1,942,578.05. This represents a 2.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 165,763 shares of company stock valued at $5,752,450 over the last 90 days. Insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Terns Pharmaceuticals

A number of institutional investors have recently made changes to their positions in TERN. GAMMA Investing LLC grew its holdings in shares of Terns Pharmaceuticals by 762.4% during the 4th quarter. GAMMA Investing LLC now owns 871 shares of the company’s stock valued at $35,000 after purchasing an additional 770 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in Terns Pharmaceuticals during the fourth quarter valued at about $80,000. The Manufacturers Life Insurance Company grew its stake in shares of Terns Pharmaceuticals by 8.3% during the second quarter. The Manufacturers Life Insurance Company now owns 27,262 shares of the company’s stock valued at $102,000 after buying an additional 2,097 shares during the last quarter. Velan Capital Investment Management LP increased its holdings in shares of Terns Pharmaceuticals by 17.6% in the second 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. Finally, Intech Investment Management LLC increased its holdings in shares of 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 buying an additional 6,199 shares during the period. Hedge funds and other institutional investors 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.