Leerink Partners Begins Coverage on Terns Pharmaceuticals (NASDAQ:TERN)

Leerink Partners initiated coverage on shares of Terns Pharmaceuticals (NASDAQ:TERN) in a report issued on Monday. The firm set an “outperform” rating and a $58.00 price target on the stock. Leerink Partners’ price objective suggests a potential upside of 53.72% from the stock’s current price.

TERN has been the topic of several other reports. Citizens Jmp lifted their price target on shares of Terns Pharmaceuticals from $35.00 to $57.00 and gave the stock a “market outperform” rating in a research note on Thursday, December 11th. Barclays increased their target price on shares of Terns Pharmaceuticals from $36.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday, December 9th. Wall Street Zen downgraded shares of Terns Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. Jefferies Financial Group reaffirmed a “buy” rating and set a $70.00 price objective on shares of Terns Pharmaceuticals in a research note on Wednesday, December 10th. Finally, JMP Securities set a $35.00 target price on Terns Pharmaceuticals in a research note on Wednesday, November 26th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $55.80.

Terns Pharmaceuticals Price Performance

TERN stock opened at $37.73 on Monday. The firm has a 50 day simple moving average of $37.67 and a two-hundred day simple moving average of $20.23. The stock has a market cap of $3.40 billion, a PE ratio of -36.63 and a beta of -0.28. Terns Pharmaceuticals has a one year low of $1.87 and a one year high of $48.26.

Terns Pharmaceuticals (NASDAQ:TERN) last announced its earnings results on Monday, November 10th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.03. On average, research analysts expect that Terns Pharmaceuticals will post -1.19 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Amy L. Burroughs sold 71,339 shares of Terns Pharmaceuticals stock in a transaction on Monday, January 5th. The shares were sold at an average price of $38.10, for a total value of $2,718,015.90. Following the sale, the chief executive officer owned 138,976 shares in the company, valued at $5,294,985.60. The trade was a 33.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Emil Kuriakose sold 1,155 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $38.57, for a total transaction 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 141,243 shares of company stock valued at $5,311,090 in the last ninety days. 1.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Terns Pharmaceuticals

Several large investors have recently bought and sold shares of the company. GAMMA Investing LLC grew its position in 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. Engineers Gate Manager LP purchased a new position in Terns Pharmaceuticals in the second quarter worth about $41,000. iA Global Asset Management Inc. bought a new position in shares of Terns Pharmaceuticals in the fourth quarter worth approximately $43,000. Canada Pension Plan Investment Board purchased a new stake in shares of Terns Pharmaceuticals during the second quarter valued at approximately $46,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Terns Pharmaceuticals during the first quarter valued at approximately $51,000. 98.26% of the stock is owned by institutional investors.

About Terns Pharmaceuticals

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.