Terns Pharmaceuticals (NASDAQ:TERN) Price Target Raised to $35.00

Terns Pharmaceuticals (NASDAQ:TERN) had its price objective raised by Citizens Jmp from $25.00 to $35.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has a market outperform rating on the stock.

A number of other equities analysts have also recently issued reports on the stock. William Blair upgraded shares of Terns Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research note on Monday, November 3rd. Citigroup reiterated an “outperform” rating on shares of Terns Pharmaceuticals in a research note on Wednesday. Barclays raised their price target on shares of Terns Pharmaceuticals from $28.00 to $36.00 and gave the company an “overweight” rating in a research report on Tuesday. Truist Financial upped their price objective on Terns Pharmaceuticals from $28.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, November 19th. Finally, Mizuho increased their target price on Terns Pharmaceuticals from $32.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, November 13th. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $31.44.

Terns Pharmaceuticals Stock Down 2.1%

Shares of TERN opened at $28.15 on Wednesday. The stock has a market cap of $2.54 billion, a P/E ratio of -27.33 and a beta of -0.02. The business’s 50 day moving average price is $14.14 and its 200-day moving average price is $8.30. Terns Pharmaceuticals has a 52 week low of $1.87 and a 52 week high of $29.51.

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, beating analysts’ consensus estimates of ($0.30) by $0.03. On average, equities analysts anticipate that Terns Pharmaceuticals will post -1.19 EPS for the current year.

Insider Transactions at Terns Pharmaceuticals

In related news, Director Jill M. Quigley sold 24,520 shares of the firm’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 value of $441,360.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.50% of the company’s stock.

Institutional Trading of Terns Pharmaceuticals

Several large investors have recently modified their holdings of TERN. Commodore Capital LP purchased a new stake in Terns Pharmaceuticals during the third quarter valued at $42,807,000. Nuveen LLC bought a new stake in shares of Terns Pharmaceuticals during the 1st quarter valued at about $3,880,000. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Terns Pharmaceuticals during the 2nd quarter valued at about $4,774,000. Franklin Resources Inc. purchased a new stake in shares of Terns Pharmaceuticals during the 2nd quarter valued at about $4,765,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of Terns Pharmaceuticals in the 1st quarter worth approximately $1,366,000. Institutional investors own 98.26% of the company’s stock.

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.