Analysts Set Terns Pharmaceuticals, Inc. (NASDAQ:TERN) PT at $14.94

Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) have been given an average recommendation of “Moderate Buy” by the eight research firms that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $14.94.

TERN has been the subject of several research analyst reports. BMO Capital Markets raised their target price on shares of Terns Pharmaceuticals from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, March 15th. HC Wainwright reiterated a “neutral” rating and issued a $5.50 price target on shares of Terns Pharmaceuticals in a research note on Friday, March 15th. JMP Securities decreased their price target on shares of Terns Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating for the company in a research note on Monday, March 18th. Finally, UBS Group decreased their price target on shares of Terns Pharmaceuticals from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, March 27th.

Terns Pharmaceuticals Trading Up 3.9 %

NASDAQ:TERN opened at $5.10 on Thursday. The company has a 50-day moving average price of $6.34 and a 200-day moving average price of $5.85. Terns Pharmaceuticals has a 12 month low of $3.26 and a 12 month high of $13.51. The stock has a market cap of $329.87 million, a price-to-earnings ratio of -4.02 and a beta of -0.63.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its earnings results on Thursday, March 14th. The company reported ($0.29) EPS for the quarter, hitting the consensus estimate of ($0.29). Equities analysts forecast that Terns Pharmaceuticals will post -1.46 EPS for the current fiscal year.

Insider Buying and Selling at Terns Pharmaceuticals

In other Terns Pharmaceuticals news, major shareholder Vivo Opportunity, Llc sold 181,117 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $6.99, for a total transaction of $1,266,007.83. Following the completion of the sale, the insider now directly owns 275,772 shares in the company, valued at approximately $1,927,646.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 17.40% of the stock is owned by company insiders.

Institutional Trading of Terns Pharmaceuticals

A number of large investors have recently made changes to their positions in TERN. China Universal Asset Management Co. Ltd. grew its stake in shares of Terns Pharmaceuticals by 358.1% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 7,147 shares of the company’s stock worth $46,000 after acquiring an additional 5,587 shares during the period. AJOVista LLC purchased a new position in shares of Terns Pharmaceuticals in the fourth quarter worth approximately $58,000. Simplicity Solutions LLC bought a new stake in Terns Pharmaceuticals during the fourth quarter valued at approximately $68,000. Bleakley Financial Group LLC bought a new stake in Terns Pharmaceuticals during the fourth quarter valued at approximately $68,000. Finally, Pale Fire Capital SE bought a new stake in Terns Pharmaceuticals during the third quarter valued at approximately $76,000. 98.26% of the stock is currently owned by institutional investors.

Terns Pharmaceuticals Company Profile

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.