Brokerages Set Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Price Target at $14.94

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

TERN has been the subject of several recent analyst reports. HC Wainwright reissued a “neutral” rating and issued a $5.50 price target on shares of Terns Pharmaceuticals in a report on Tuesday. UBS Group reduced 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 report on Wednesday, March 27th. JMP Securities reiterated a “market outperform” rating and issued a $15.00 price objective on shares of Terns Pharmaceuticals in a report on Tuesday. Finally, BMO Capital Markets increased their target price on Terns Pharmaceuticals from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, March 15th.

Insider Activity

In related 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 $1,927,646.28. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 17.40% of the company’s stock.

Institutional Investors Weigh In On Terns Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TERN. China Universal Asset Management Co. Ltd. grew its holdings in shares of Terns Pharmaceuticals by 358.1% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,147 shares of the company’s stock worth $46,000 after purchasing an additional 5,587 shares during the period. AJOVista LLC purchased a new position in Terns Pharmaceuticals during the fourth quarter worth about $58,000. Simplicity Solutions LLC acquired a new stake in shares of Terns Pharmaceuticals during the fourth quarter valued at about $68,000. Bleakley Financial Group LLC acquired a new stake in shares of Terns Pharmaceuticals during the fourth quarter valued at about $68,000. Finally, Pale Fire Capital SE purchased a new stake in shares of Terns Pharmaceuticals in the 3rd quarter valued at approximately $76,000. Institutional investors and hedge funds own 98.26% of the company’s stock.

Terns Pharmaceuticals Stock Up 0.6 %

TERN stock opened at $5.08 on Thursday. Terns Pharmaceuticals has a 52-week low of $3.26 and a 52-week high of $13.51. The company’s 50-day simple moving average is $6.23 and its 200-day simple moving average is $5.84. The firm has a market cap of $328.55 million, a P/E ratio of -4.00 and a beta of -0.63.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its quarterly earnings data on Thursday, March 14th. The company reported ($0.29) EPS for the quarter, meeting the consensus estimate of ($0.29). On average, analysts anticipate that Terns Pharmaceuticals will post -1.46 earnings per share for the current fiscal year.

About Terns Pharmaceuticals

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.