Barclays Reiterates “Equal Weight” Rating for Terns Pharmaceuticals (NASDAQ:TERN)

Terns Pharmaceuticals (NASDAQ:TERN)‘s stock had its “equal weight” rating reaffirmed by stock analysts at Barclays in a research note issued to investors on Monday,Benzinga reports. They currently have a $53.00 price objective on the stock, down from their previous price objective of $56.00. Barclays‘s price objective indicates a potential upside of 0.24% from the company’s current price.

Several other equities analysts have also issued reports on the company. Leerink Partners initiated coverage on Terns Pharmaceuticals in a report on Monday, February 9th. They issued an “outperform” rating and a $58.00 target price for the company. BMO Capital Markets upped their price objective on Terns Pharmaceuticals from $35.00 to $54.00 and gave the company an “outperform” rating in a research note on Tuesday, December 9th. Citizens Jmp lowered Terns Pharmaceuticals from a “market outperform” rating to a “hold” rating in a research note on Thursday. TD Cowen cut Terns Pharmaceuticals from a “buy” rating to a “hold” rating and set a $53.00 price objective on the stock. in a research note on Thursday. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $70.00 target price on shares of Terns Pharmaceuticals in a research report on Wednesday, December 10th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Terns Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $56.60.

Terns Pharmaceuticals Stock Performance

Shares of Terns Pharmaceuticals stock traded down $0.05 during trading hours on Monday, reaching $52.88. The company’s stock had a trading volume of 1,999,894 shares, compared to its average volume of 3,942,018. The company has a market capitalization of $5.49 billion, a P/E ratio of -51.33 and a beta of -0.31. Terns Pharmaceuticals has a one year low of $1.87 and a one year high of $53.19. The stock’s fifty day simple moving average is $41.28 and its two-hundred day simple moving average is $29.36.

Insider Activity at Terns Pharmaceuticals

In other news, CEO Amy L. Burroughs sold 14,583 shares of the business’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $46.71, for a total transaction of $681,171.93. Following the completion of the transaction, the chief executive officer directly owned 288,976 shares in the company, valued at $13,498,068.96. The trade was a 4.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Emil Kuriakose sold 1,155 shares of the company’s stock in a transaction on 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 transaction, the insider directly owned 50,365 shares in the company, valued at approximately $1,942,578.05. The trade was a 2.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 170,409 shares of company stock worth $6,563,769 over the last quarter. Corporate insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Terns Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC increased its holdings in shares of Terns Pharmaceuticals by 136.8% in the 1st quarter. Cubist Systematic Strategies LLC now owns 28,327 shares of the company’s stock worth $78,000 after buying an additional 16,363 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Terns Pharmaceuticals in the first quarter worth $51,000. Goldman Sachs Group Inc. increased its stake in Terns Pharmaceuticals by 21.0% in the first quarter. Goldman Sachs Group Inc. now owns 415,021 shares of the company’s stock valued at $1,145,000 after acquiring an additional 71,971 shares during the last quarter. Geode Capital Management LLC raised its position in Terns Pharmaceuticals by 3.8% during the second quarter. Geode Capital Management LLC now owns 1,633,349 shares of the company’s stock valued at $6,094,000 after purchasing an additional 59,145 shares in the last quarter. Finally, Intech Investment Management LLC lifted its stake in Terns Pharmaceuticals by 15.5% during the second quarter. Intech Investment Management LLC now owns 46,121 shares of the company’s stock worth $172,000 after purchasing an additional 6,199 shares during the last quarter. 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.