Terns Pharmaceuticals (NASDAQ:TERN) Price Target Raised to $33.00 at Mizuho

Terns Pharmaceuticals (NASDAQ:TERN) had its target price lifted by research analysts at Mizuho from $32.00 to $33.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s target price indicates a potential upside of 56.80% from the company’s current price.

TERN has been the topic of several other reports. HC Wainwright raised Terns Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Tuesday, November 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Terns Pharmaceuticals in a research note on Wednesday, October 8th. Wall Street Zen raised Terns Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Oppenheimer reiterated an “outperform” rating and set a $24.00 price target on shares of Terns Pharmaceuticals in a report on Monday, November 3rd. Finally, Citigroup restated an “outperform” rating on shares of Terns Pharmaceuticals in a research note on Thursday, October 23rd. Ten research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $25.63.

Terns Pharmaceuticals Trading Up 3.7%

Terns Pharmaceuticals stock traded up $0.75 during trading hours on Thursday, reaching $21.05. 909,014 shares of the company were exchanged, compared to its average volume of 1,474,501. Terns Pharmaceuticals has a 12 month low of $1.87 and a 12 month high of $21.32. The stock has a 50-day moving average of $9.54 and a 200 day moving average of $6.37. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of -20.47 and a beta of -0.02.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its quarterly earnings data on Monday, November 10th. The company reported ($0.27) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.03. As a group, research analysts forecast that Terns Pharmaceuticals will post -1.19 EPS for the current year.

Insiders Place Their Bets

In other Terns Pharmaceuticals news, Director Jill M. Quigley sold 24,520 shares of Terns Pharmaceuticals stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $18.00, for a total transaction of $441,360.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Terns Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in TERN. The Manufacturers Life Insurance Company increased its stake in Terns Pharmaceuticals by 8.3% in the second quarter. The Manufacturers Life Insurance Company now owns 27,262 shares of the company’s stock valued at $102,000 after acquiring an additional 2,097 shares during the period. Velan Capital Investment Management LP lifted its stake in Terns Pharmaceuticals by 17.6% during the second quarter. Velan Capital Investment Management LP now owns 20,000 shares of the company’s stock worth $75,000 after purchasing an additional 3,000 shares during the period. Intech Investment Management LLC boosted its holdings in Terns Pharmaceuticals by 15.5% during the second quarter. Intech Investment Management LLC now owns 46,121 shares of the company’s stock valued at $172,000 after purchasing an additional 6,199 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Terns Pharmaceuticals by 29.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 32,172 shares of the company’s stock valued at $242,000 after purchasing an additional 7,352 shares during the period. Finally, Rhumbline Advisers raised its holdings in shares of Terns Pharmaceuticals by 10.1% in the 2nd quarter. Rhumbline Advisers now owns 106,451 shares of the company’s stock worth $397,000 after buying an additional 9,792 shares in the last quarter. 98.26% of the stock is owned by institutional investors.

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.