Brokerages Set Terns Pharmaceuticals, Inc. (NASDAQ:TERN) PT at $31.44

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) has received a consensus rating of “Moderate Buy” from the twelve brokerages that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation and eleven have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $31.4444.

TERN has been the subject of a number of research analyst reports. Mizuho set a $33.00 price objective on shares of Terns Pharmaceuticals in a research report on Friday, November 28th. Oppenheimer reissued an “outperform” rating and set a $24.00 target price on shares of Terns Pharmaceuticals in a research note on Monday, November 3rd. BMO Capital Markets upped their price target on shares of Terns Pharmaceuticals from $22.00 to $30.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 18th. Jefferies Financial Group increased their target price on Terns Pharmaceuticals from $28.00 to $35.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Finally, Barclays boosted their price target on Terns Pharmaceuticals from $28.00 to $36.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 25th.

Terns Pharmaceuticals Trading Up 37.0%

Shares of TERN opened at $40.23 on Friday. The firm has a market cap of $3.62 billion, a P/E ratio of -39.06 and a beta of -0.26. Terns Pharmaceuticals has a 12 month low of $1.87 and a 12 month high of $45.00. The stock’s 50 day moving average is $16.78 and its two-hundred day moving average is $9.50.

Terns Pharmaceuticals (NASDAQ:TERN) last announced its earnings results 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. Equities research analysts forecast that Terns Pharmaceuticals will post -1.19 EPS for the current year.

Insider Activity at Terns Pharmaceuticals

In other news, Director Jill M. Quigley sold 24,520 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The shares were 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 through this link. 1.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Terns Pharmaceuticals

A number of large investors have recently made changes to their positions in TERN. Commodore Capital LP purchased a new stake in Terns Pharmaceuticals in the 3rd quarter valued at $42,807,000. Vanguard Group Inc. increased its holdings in shares of Terns Pharmaceuticals by 5.9% during the 3rd quarter. Vanguard Group Inc. now owns 4,559,917 shares of the company’s stock worth $34,245,000 after buying an additional 253,751 shares during the last quarter. Candriam S.C.A. raised its position in shares of Terns Pharmaceuticals by 9.9% during the 2nd quarter. Candriam S.C.A. now owns 2,368,235 shares of the company’s stock valued at $8,834,000 after buying an additional 214,266 shares during the period. Geode Capital Management LLC lifted its holdings in Terns Pharmaceuticals by 3.8% in the second quarter. Geode Capital Management LLC now owns 1,633,349 shares of the company’s stock valued at $6,094,000 after acquiring an additional 59,145 shares during the last quarter. Finally, Nuveen LLC purchased a new position in Terns Pharmaceuticals in the first quarter worth approximately $3,880,000. 98.26% of the stock is currently owned by hedge funds and other 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.