Terns Pharmaceuticals (NASDAQ:TERN) Hits New 1-Year High – Time to Buy?

Terns Pharmaceuticals, Inc. (NASDAQ:TERN)’s share price reached a new 52-week high during trading on Friday . The company traded as high as $9.03 and last traded at $8.61, with a volume of 834918 shares traded. The stock had previously closed at $8.50.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Truist Financial assumed coverage on Terns Pharmaceuticals in a report on Tuesday. They issued a “buy” rating and a $20.00 price objective on the stock. Barclays assumed coverage on Terns Pharmaceuticals in a report on Wednesday, September 17th. They issued an “overweight” rating and a $15.00 price objective on the stock. HC Wainwright assumed coverage on Terns Pharmaceuticals in a report on Thursday, September 4th. They issued a “neutral” rating and a $7.44 price objective on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Terns Pharmaceuticals in a report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $16.24.

Terns Pharmaceuticals Stock Performance

The firm has a market capitalization of $753.46 million, a PE ratio of -8.28 and a beta of -0.03. The firm has a fifty day moving average of $7.40 and a 200 day moving average of $5.01.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its quarterly earnings data on Tuesday, August 5th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.02. Research analysts forecast that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Terns Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vontobel Holding Ltd. purchased a new stake in Terns Pharmaceuticals during the 1st quarter worth approximately $39,000. Invesco Ltd. increased its holdings in Terns Pharmaceuticals by 149.3% during the 1st quarter. Invesco Ltd. now owns 58,345 shares of the company’s stock worth $161,000 after purchasing an additional 34,945 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Terns Pharmaceuticals by 21.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 415,021 shares of the company’s stock worth $1,145,000 after purchasing an additional 71,971 shares during the last quarter. Graham Capital Management L.P. increased its holdings in Terns Pharmaceuticals by 70.1% during the 1st quarter. Graham Capital Management L.P. now owns 226,295 shares of the company’s stock worth $625,000 after purchasing an additional 93,296 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in Terns Pharmaceuticals during the 1st quarter worth approximately $1,366,000. 98.26% of the stock is currently owned by hedge funds and other institutional investors.

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.