Terns Pharmaceuticals (NASDAQ:TERN) Issues Earnings Results, Beats Estimates By $0.06 EPS

Terns Pharmaceuticals (NASDAQ:TERN) posted its quarterly earnings results on Monday. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.06, FiscalAI reports.

Terns Pharmaceuticals Price Performance

Shares of Terns Pharmaceuticals stock opened at $52.88 on Tuesday. The stock has a market cap of $5.49 billion, a price-to-earnings ratio of -51.34 and a beta of -0.31. The firm’s 50-day moving average is $41.61 and its 200 day moving average is $29.68. Terns Pharmaceuticals has a 1 year low of $1.87 and a 1 year high of $53.19.

Insider Transactions at Terns Pharmaceuticals

In related news, CEO Amy L. Burroughs sold 14,583 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $46.71, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Emil Kuriakose sold 1,155 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $38.57, for a total value of $44,548.35. Following the completion of the transaction, the insider directly owned 50,365 shares in the company, valued at $1,942,578.05. This trade represents a 2.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 170,409 shares of company stock valued at $6,563,769. 1.50% of the stock is owned by company insiders.

Institutional Trading of Terns Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the business. Morgan Stanley lifted its holdings in Terns Pharmaceuticals by 4.7% in the fourth quarter. Morgan Stanley now owns 7,945,608 shares of the company’s stock valued at $321,003,000 after acquiring an additional 356,513 shares during the period. Adage Capital Partners GP L.L.C. grew its stake in shares of Terns Pharmaceuticals by 40.9% during the 4th 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 during the period. Vanguard Group Inc. increased its position in shares of Terns Pharmaceuticals by 5.9% during the 3rd quarter. Vanguard Group Inc. now owns 4,559,917 shares of the company’s stock valued at $34,245,000 after purchasing an additional 253,751 shares during the last quarter. Vestal Point Capital LP bought a new position in shares of Terns Pharmaceuticals in the 4th quarter worth approximately $181,800,000. Finally, Janus Henderson Group PLC bought a new position in shares of Terns Pharmaceuticals in the 4th quarter worth approximately $136,496,000. Institutional investors own 98.26% of the company’s stock.

Analysts Set New Price Targets

TERN has been the topic of several analyst reports. UBS Group upgraded Terns Pharmaceuticals to a “strong-buy” rating in a report on Thursday, December 4th. TD Cowen lowered Terns Pharmaceuticals from a “buy” rating to a “hold” rating and set a $53.00 price target on the stock. in a research report on Thursday, March 26th. Citizens Jmp downgraded shares of Terns Pharmaceuticals from a “market outperform” rating to a “hold” rating in a research note on Thursday, March 26th. Truist Financial increased their price objective on Terns Pharmaceuticals from $35.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. Finally, Wall Street Zen lowered shares of Terns Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $56.60.

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.