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

Terns Pharmaceuticals (NASDAQ:TERN) released its quarterly earnings results on Thursday. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.06, Zacks reports.

Terns Pharmaceuticals Price Performance

NASDAQ:TERN traded down $0.02 on Thursday, reaching $3.14. 671,036 shares of the company’s stock were exchanged, compared to its average volume of 1,390,515. The firm has a market cap of $266.71 million, a price-to-earnings ratio of -2.66 and a beta of -0.30. The stock has a fifty day simple moving average of $4.11 and a 200-day simple moving average of $6.12. Terns Pharmaceuticals has a 52 week low of $3.08 and a 52 week high of $11.40.

Analysts Set New Price Targets

Several brokerages have recently commented on TERN. JMP Securities reiterated a “market outperform” rating and issued a $20.00 target price on shares of Terns Pharmaceuticals in a report on Wednesday, December 4th. Oppenheimer lifted their target price on Terns Pharmaceuticals from $17.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. William Blair began coverage on shares of Terns Pharmaceuticals in a research report on Friday, February 28th. They set a “market perform” rating for the company. Finally, HC Wainwright reaffirmed a “neutral” rating and issued a $7.50 price objective on shares of Terns Pharmaceuticals in a research report on Wednesday, December 4th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Terns Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $18.30.

Insider Activity

In related news, insider Emil Kuriakose sold 4,481 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $5.71, for a total transaction of $25,586.51. Following the sale, the insider now directly owns 54,269 shares in the company, valued at approximately $309,875.99. The trade was a 7.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mark J. Vignola sold 8,129 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $5.72, for a total value of $46,497.88. Following the sale, the chief financial officer now directly owns 83,811 shares in the company, valued at $479,398.92. This trade represents a 8.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,669 shares of company stock valued at $211,040 over the last quarter. Company insiders own 15.10% of the company’s stock.

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.