Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Receives $55.56 Average Target Price from Brokerages

Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) have earned an average recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, eleven have assigned a buy recommendation and one has given 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 $55.5556.

Several equities research analysts recently issued reports on the stock. William Blair upgraded shares of Terns Pharmaceuticals from a “market perform” rating to an “outperform” rating in a report on Monday, November 3rd. Wall Street Zen raised Terns Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. UBS Group raised Terns Pharmaceuticals to a “strong-buy” rating in a report on Thursday, December 4th. Barclays upped their price objective on Terns Pharmaceuticals from $36.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday, December 9th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $70.00 target price on shares of Terns Pharmaceuticals in a research report on Wednesday, December 10th.

Terns Pharmaceuticals Stock Performance

NASDAQ TERN opened at $40.11 on Wednesday. Terns Pharmaceuticals has a one year low of $1.87 and a one year high of $48.26. The stock has a 50-day moving average of $29.65 and a 200 day moving average of $14.50. The company has a market capitalization of $3.61 billion, a price-to-earnings ratio of -38.94 and a beta of -0.28.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its earnings results on Monday, November 10th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.03. On average, equities analysts predict that Terns Pharmaceuticals will post -1.19 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Jill M. Quigley sold 24,520 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $18.00, for a total transaction of $441,360.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Polymer Capital Management US LLC purchased a new stake in shares of Terns Pharmaceuticals in the 3rd quarter worth $76,000. Engineers Gate Manager LP bought a new stake in Terns Pharmaceuticals during the second quarter valued at about $41,000. Fox Run Management L.L.C. bought a new stake in Terns Pharmaceuticals during the third quarter valued at about $87,000. Canada Pension Plan Investment Board purchased a new stake in Terns Pharmaceuticals in the second quarter worth about $46,000. Finally, Oppenheimer & Co. Inc. bought a new position in shares of Terns Pharmaceuticals in the third quarter worth about $94,000. Hedge funds and other institutional investors own 98.26% of the company’s stock.

Terns Pharmaceuticals Company Profile

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.