Brokerages Set Terns Pharmaceuticals, Inc. (NASDAQ:TERN) PT at $56.30

Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) have been assigned an average recommendation of “Hold” from the fourteen research firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $56.20.

Several equities analysts recently weighed in on TERN shares. BMO Capital Markets lowered shares of Terns Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Truist Financial lowered shares of Terns Pharmaceuticals from a “buy” rating to a “hold” rating and reduced their price target for the company from $56.00 to $53.00 in a research report on Tuesday, March 31st. HC Wainwright restated a “neutral” rating and set a $53.00 price target (down from $60.00) on shares of Terns Pharmaceuticals in a research report on Wednesday, March 25th. William Blair lowered shares of Terns Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Terns Pharmaceuticals in a research report on Friday, March 27th.

Terns Pharmaceuticals Stock Performance

TERN opened at $52.63 on Friday. The firm has a market cap of $6.07 billion, a P/E ratio of -51.10 and a beta of -0.37. The firm has a 50-day moving average of $44.77 and a 200 day moving average of $32.55. Terns Pharmaceuticals has a fifty-two week low of $2.04 and a fifty-two week high of $53.19.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its quarterly earnings results on Thursday, April 2nd. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.06. Equities research analysts predict that Terns Pharmaceuticals will post -1.19 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Emil Kuriakose sold 942 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $52.75, for a total transaction of $49,690.50. Following the completion of the transaction, the insider owned 105,673 shares in the company, valued at approximately $5,574,250.75. This represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Amy L. Burroughs sold 68,749 shares of the stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $37.07, for a total transaction of $2,548,525.43. Following the transaction, the chief executive officer owned 288,976 shares of the company’s stock, valued at approximately $10,712,340.32. The trade was a 19.22% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 98,857 shares of company stock valued at $3,850,896. 1.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Terns Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Terns Pharmaceuticals during the fourth quarter worth about $25,000. GAMMA Investing LLC boosted its position in Terns Pharmaceuticals by 762.4% during the fourth quarter. GAMMA Investing LLC now owns 871 shares of the company’s stock worth $35,000 after purchasing an additional 770 shares during the period. Engineers Gate Manager LP bought a new position in Terns Pharmaceuticals during the second quarter worth about $41,000. iA Global Asset Management Inc. bought a new position in Terns Pharmaceuticals during the fourth quarter worth about $43,000. Finally, Canada Pension Plan Investment Board bought a new position in Terns Pharmaceuticals during the second quarter worth about $46,000. Institutional investors own 98.26% of the company’s stock.

About Terns Pharmaceuticals

Terns Pharmaceuticals, Inc is a clinical‐stage biopharmaceutical company focused on developing oral small‐molecule therapies for the treatment of chronic liver diseases and other serious conditions. The company’s research and development efforts center on novel mechanisms of action designed to address the underlying causes of progressive liver disorders, including inflammation, fibrosis and metabolic dysregulation. By advancing targeted compounds that can be administered orally, Terns aims to offer patients more convenient and effective treatment options compared to injectable or biologic therapies.

The company’s pipeline features several candidates in various stages of preclinical and clinical evaluation.