Terns Pharmaceuticals (NASDAQ:TERN) Price Target Raised to $7.50 at HC Wainwright

Terns Pharmaceuticals (NASDAQ:TERN) had its price objective boosted by HC Wainwright from $5.50 to $7.50 in a report released on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the stock. HC Wainwright also issued estimates for Terns Pharmaceuticals’ Q4 2024 earnings at ($0.28) EPS, FY2024 earnings at ($1.17) EPS, Q1 2025 earnings at ($0.30) EPS, Q2 2025 earnings at ($0.33) EPS, Q3 2025 earnings at ($0.37) EPS, Q4 2025 earnings at ($0.40) EPS, FY2025 earnings at ($1.41) EPS, FY2026 earnings at ($1.46) EPS, FY2027 earnings at ($1.58) EPS and FY2028 earnings at ($0.64) EPS.

A number of other research analysts have also recently issued reports on TERN. Oppenheimer started coverage on Terns Pharmaceuticals in a research report on Thursday, October 31st. They issued an “outperform” rating and a $82.00 target price on the stock. BMO Capital Markets reaffirmed an “outperform” rating and set a $26.00 price target (up from $19.00) on shares of Terns Pharmaceuticals in a report on Monday, September 16th. Finally, JMP Securities increased their price objective on shares of Terns Pharmaceuticals from $15.00 to $20.00 and gave the company a “market outperform” rating in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.25.

Terns Pharmaceuticals Stock Performance

Shares of NASDAQ:TERN opened at $6.17 on Wednesday. The firm has a 50 day moving average of $8.03 and a 200-day moving average of $7.48. Terns Pharmaceuticals has a 12 month low of $3.59 and a 12 month high of $11.40.

Terns Pharmaceuticals (NASDAQ:TERN) last released its earnings results on Tuesday, November 12th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.05. As a group, equities research analysts predict that Terns Pharmaceuticals will post -1.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Jill M. Quigley sold 17,235 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $10.00, for a total transaction of $172,350.00. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $150,000. This trade represents a 53.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Hongbo Lu acquired 476,190 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was bought at an average cost of $10.50 per share, for a total transaction of $4,999,995.00. Following the completion of the purchase, the director now owns 476,190 shares of the company’s stock, valued at $4,999,995. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 15.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Terns Pharmaceuticals by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 154,714 shares of the company’s stock valued at $1,290,000 after purchasing an additional 1,994 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Terns Pharmaceuticals by 12.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,694 shares of the company’s stock valued at $136,000 after acquiring an additional 2,261 shares during the last quarter. Bleakley Financial Group LLC grew its holdings in Terns Pharmaceuticals by 26.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 13,312 shares of the company’s stock worth $111,000 after acquiring an additional 2,751 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Terns Pharmaceuticals by 28.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,645 shares of the company’s stock worth $154,000 after acquiring an additional 5,049 shares during the period. Finally, Creative Planning raised its position in shares of Terns Pharmaceuticals by 27.2% in the 3rd quarter. Creative Planning now owns 25,310 shares of the company’s stock worth $211,000 after acquiring an additional 5,409 shares in the last quarter. Institutional investors own 98.26% of the company’s stock.

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.