Terns Pharmaceuticals (NASDAQ:TERN) Earns Hold Rating from TD Cowen

Terns Pharmaceuticals (NASDAQ:TERN)‘s stock had its “hold” rating reaffirmed by equities research analysts at TD Cowen in a research note issued on Thursday,Benzinga reports. They currently have a $53.00 price objective on the stock. TD Cowen’s price objective suggests a potential upside of 0.26% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. Citigroup reissued an “outperform” rating on shares of Terns Pharmaceuticals in a research note on Wednesday, November 26th. Barclays upped their target price on Terns Pharmaceuticals from $36.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 9th. Wall Street Zen downgraded Terns Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. HC Wainwright reiterated a “neutral” rating and issued a $53.00 price target on shares of Terns Pharmaceuticals in a research note on Wednesday. Finally, BMO Capital Markets boosted their price target on Terns Pharmaceuticals from $35.00 to $54.00 and gave the stock an “outperform” rating in a report on Tuesday, December 9th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $56.90.

Terns Pharmaceuticals Stock Up 5.7%

TERN stock opened at $52.86 on Thursday. Terns Pharmaceuticals has a 12 month low of $1.87 and a 12 month high of $52.98. The firm has a market cap of $5.48 billion, a P/E ratio of -51.32 and a beta of -0.31. The company’s 50-day moving average price is $40.63 and its two-hundred day moving average price is $28.57.

Insider Buying and Selling

In other Terns Pharmaceuticals news, insider Emil Kuriakose sold 1,155 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $38.57, for a total transaction of $44,548.35. Following the sale, the insider owned 50,365 shares of the company’s stock, valued at approximately $1,942,578.05. The trade was a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Amy L. Burroughs sold 71,339 shares of the company’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $38.10, for a total transaction of $2,718,015.90. Following the transaction, the chief executive officer owned 138,976 shares of the company’s stock, valued at $5,294,985.60. This trade represents a 33.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 170,409 shares of company stock valued at $6,563,769. 1.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Terns Pharmaceuticals

Several hedge funds have recently modified their holdings of TERN. Morgan Stanley increased its holdings in Terns Pharmaceuticals by 4.7% in the 4th quarter. Morgan Stanley now owns 7,945,608 shares of the company’s stock worth $321,003,000 after purchasing an additional 356,513 shares in the last quarter. Commodore Capital LP bought a new position in Terns Pharmaceuticals in the third quarter valued at about $42,807,000. Adage Capital Partners GP L.L.C. boosted its stake in shares of Terns Pharmaceuticals by 40.9% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 5,550,000 shares of the company’s stock valued at $224,220,000 after purchasing an additional 1,611,000 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Terns Pharmaceuticals by 21.1% during the fourth quarter. Vanguard Group Inc. now owns 5,523,948 shares of the company’s stock valued at $223,167,000 after purchasing an additional 964,031 shares in the last quarter. Finally, Vestal Point Capital LP bought a new stake in shares of Terns Pharmaceuticals during the fourth quarter worth about $181,800,000. Institutional investors and hedge funds own 98.26% of the company’s stock.

More Terns Pharmaceuticals News

Here are the key news stories impacting Terns Pharmaceuticals this week:

• Positive Sentiment: Merck agreed to acquire Terns for $53.00 per share in cash, valuing the company at about $6.7 billion; boards approved and a tender offer is expected with a Q2 2026 close window. Merck to Acquire Terns Pharmaceuticals (Business Wire)
• Positive Sentiment: Deal rationale: Merck is buying Terns primarily for TERN-701 (an allosteric BCR::ABL1 CML candidate), strengthening Merck’s hematology/oncology pipeline ahead of Keytruda patent pressures. Analysts say the asset underpins the acquisition logic. Merck’s Deal Looks Like Good Business (Seeking Alpha)
• Positive Sentiment: Market reaction: shares have moved up and hit 52-week highs as the cash offer anchors near-term valuation and reduces execution risk versus standalone biotech exposure. Terns Jumps After Merck Agrees to Acquire (QuiverQuant)
• Neutral Sentiment: HC Wainwright reaffirmed a “Neutral” rating and set a $53 price target (roughly the deal price); the firm also published an FY2030 EPS estimate that remains negative, reflecting biotech-stage economics. HC Wainwright Note / MarketBeat
• Neutral Sentiment: Reported short-interest data in recent filings is noisy/zeroed in some feeds and does not present a clear short-covering story at this time. (Data providers show inconsistent figures.)
• Negative Sentiment: Several shareholder law firms (Kahn Swick & Foti, Monteverde & Associates, Ademi, Halper Sadeh, others) have opened investigations into whether Terns’ directors secured a fair price/process — these suits can lead to delays, revised terms, or additional disclosures. KSF Investigates Proposed Sale (Business Wire) Monteverde Investigation (PR Newswire)
• Negative Sentiment: Insider and large institutional selling reported in some data feeds (multiple prior quarter reductions by large holders) could weigh on sentiment if perceived as exits ahead of the tender or signaling mixed conviction. Insider & Institutional Activity (QuiverQuant)

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.