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

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

TERN has been the subject of several other research reports. Wall Street Zen upgraded Terns Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. William Blair raised Terns Pharmaceuticals from a “market perform” rating to an “outperform” rating in a report on Monday, November 3rd. JMP Securities decreased their price objective on shares of Terns Pharmaceuticals from $20.00 to $15.00 and set a “market outperform” rating on the stock in a report on Thursday, October 23rd. Oppenheimer reaffirmed an “outperform” rating and issued a $24.00 target price on shares of Terns Pharmaceuticals in a research note on Monday, November 3rd. Finally, Citigroup reiterated an “outperform” rating on shares of Terns Pharmaceuticals in a research report on Thursday, October 23rd. Ten investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $25.63.

Terns Pharmaceuticals Trading Up 3.7%

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

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

Insider Buying and Selling

In related news, Director Jill M. Quigley sold 24,520 shares of Terns Pharmaceuticals stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $18.00, for a total value of $441,360.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Terns Pharmaceuticals

Several hedge funds have recently bought and sold shares of the stock. Engineers Gate Manager LP bought a new stake in shares of Terns Pharmaceuticals in the second quarter valued at about $41,000. Canada Pension Plan Investment Board bought a new stake in shares of Terns Pharmaceuticals during the second quarter worth $46,000. LeConte Wealth Management LLC acquired a new position in Terns Pharmaceuticals in the 2nd quarter worth about $47,000. Dynamic Technology Lab Private Ltd acquired a new position in Terns Pharmaceuticals in the 1st quarter valued at approximately $51,000. Finally, Velan Capital Investment Management LP lifted its holdings in Terns Pharmaceuticals by 17.6% during the 2nd quarter. Velan Capital Investment Management LP now owns 20,000 shares of the company’s stock worth $75,000 after buying an additional 3,000 shares during the period. 98.26% of the stock is currently owned by institutional investors and hedge funds.

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.