Terns Pharmaceuticals (NASDAQ:TERN) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Terns Pharmaceuticals (NASDAQ:TERN) had its target price lifted by stock analysts at JPMorgan Chase & Co. from $44.00 to $44.50 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 15.49% from the stock’s current price.

A number of other brokerages also recently weighed in on TERN. Leerink Partners downgraded Terns Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 8th. TD Cowen downgraded Terns Pharmaceuticals from a “buy” rating to a “hold” rating and set a $53.00 price target for the company. in a report on Thursday, March 26th. BMO Capital Markets downgraded Terns Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. William Blair downgraded Terns Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Finally, Citizens Jmp downgraded Terns Pharmaceuticals from a “market outperform” rating to a “hold” rating in a report on Thursday, March 26th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $55.14.

Terns Pharmaceuticals Stock Performance

Shares of NASDAQ TERN traded up $0.05 during trading on Tuesday, reaching $52.66. The stock had a trading volume of 1,956,405 shares, compared to its average volume of 4,988,284. Terns Pharmaceuticals has a one year low of $2.21 and a one year high of $53.19. The stock has a market cap of $6.08 billion, a PE ratio of -51.13 and a beta of -0.37. The firm’s 50 day moving average price is $45.09 and its two-hundred day moving average price is $32.87.

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

Insiders Place Their Bets

In related news, CEO Amy L. Burroughs sold 68,749 shares of the company’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $37.07, for a total transaction of $2,548,525.43. Following the completion of the transaction, the chief executive officer directly owned 288,976 shares in the company, valued at $10,712,340.32. This represents a 19.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Emil Kuriakose sold 942 shares of the company’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $52.75, for a total value of $49,690.50. Following the transaction, the insider owned 105,673 shares of the company’s stock, valued at approximately $5,574,250.75. The trade was a 0.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over 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.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TERN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Terns Pharmaceuticals during the 4th quarter worth $25,000. GAMMA Investing LLC grew its stake in Terns Pharmaceuticals by 762.4% during the 4th quarter. GAMMA Investing LLC now owns 871 shares of the company’s stock worth $35,000 after buying an additional 770 shares during the last quarter. Engineers Gate Manager LP bought a new position in Terns Pharmaceuticals during the 2nd quarter worth $41,000. iA Global Asset Management Inc. acquired a new position in Terns Pharmaceuticals during the 4th quarter worth $43,000. Finally, Canada Pension Plan Investment Board acquired a new position in Terns Pharmaceuticals during the 2nd quarter worth $46,000. 98.26% of the stock is currently owned by institutional investors.

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.