Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) have been given an average rating of “Moderate Buy” by the eight ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $14.94.

Several research firms have recently weighed in on TERN. BMO Capital Markets increased their price target on shares of Terns Pharmaceuticals from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, March 15th. JMP Securities dropped their price target on shares of Terns Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating for the company in a research note on Monday, March 18th. HC Wainwright reissued a “neutral” rating and issued a $5.50 price target on shares of Terns Pharmaceuticals in a research note on Friday, March 15th. Finally, UBS Group decreased their price objective on shares of Terns Pharmaceuticals from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, March 27th.

Insider Activity

In related news, major shareholder Vivo Opportunity, Llc sold 138,066 shares of the stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $6.20, for a total value of $856,009.20. Following the transaction, the insider now directly owns 268,573 shares of the company’s stock, valued at approximately $1,665,152.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 17.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. grew its position in shares of Terns Pharmaceuticals by 66.3% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,889 shares of the company’s stock valued at $78,000 after buying an additional 4,742 shares during the last quarter. PEAK6 Investments LLC grew its position in shares of Terns Pharmaceuticals by 35.5% in the 3rd quarter. PEAK6 Investments LLC now owns 19,097 shares of the company’s stock valued at $96,000 after buying an additional 5,000 shares during the last quarter. AJOVista LLC purchased a new position in shares of Terns Pharmaceuticals in the 4th quarter valued at $58,000. Simplicity Solutions LLC purchased a new position in Terns Pharmaceuticals during the 4th quarter worth $68,000. Finally, Bleakley Financial Group LLC purchased a new position in Terns Pharmaceuticals during the 4th quarter worth $68,000. 98.26% of the stock is owned by hedge funds and other institutional investors.

Terns Pharmaceuticals Trading Up 3.9 %

Shares of NASDAQ TERN opened at $5.10 on Thursday. The company has a 50-day moving average of $6.34 and a 200 day moving average of $5.85. Terns Pharmaceuticals has a 12-month low of $3.26 and a 12-month high of $13.51. The stock has a market cap of $329.87 million, a PE ratio of -4.02 and a beta of -0.63.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its quarterly earnings results on Thursday, March 14th. The company reported ($0.29) earnings per share for the quarter, meeting the consensus estimate of ($0.29). On average, sell-side analysts forecast that Terns Pharmaceuticals will post -1.46 EPS for the current fiscal year.

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.