Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Receives $15.63 Average Price Target from Brokerages

Terns Pharmaceuticals, Inc. (NASDAQ:TERNGet Free Report) has been given an average recommendation of “Moderate Buy” by the five analysts that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $15.63.

Several analysts have issued reports on TERN shares. William Blair restated a “market perform” rating on shares of Terns Pharmaceuticals in a research report on Friday, March 21st. BMO Capital Markets cut their price target on shares of Terns Pharmaceuticals from $26.00 to $15.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. Finally, JMP Securities reiterated a “market outperform” rating and set a $20.00 target price on shares of Terns Pharmaceuticals in a report on Monday, April 21st.

Read Our Latest Stock Report on TERN

Insider Transactions at Terns Pharmaceuticals

In other news, CFO Andrew Gengos bought 10,000 shares of the company’s stock in a transaction dated Friday, June 13th. The stock was bought at an average cost of $3.73 per share, for a total transaction of $37,300.00. Following the completion of the acquisition, the chief financial officer now owns 10,000 shares in the company, valued at approximately $37,300. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 1.50% of the stock is currently owned by company insiders.

Institutional Trading of Terns Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. lifted its holdings in Terns Pharmaceuticals by 21.0% in the first quarter. Goldman Sachs Group Inc. now owns 415,021 shares of the company’s stock worth $1,145,000 after buying an additional 71,971 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Terns Pharmaceuticals in the first quarter worth about $51,000. Parkman Healthcare Partners LLC lifted its holdings in Terns Pharmaceuticals by 15.8% in the first quarter. Parkman Healthcare Partners LLC now owns 959,703 shares of the company’s stock worth $2,649,000 after buying an additional 130,598 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in Terns Pharmaceuticals in the first quarter worth about $1,366,000. Finally, Cubist Systematic Strategies LLC lifted its holdings in Terns Pharmaceuticals by 136.8% in the first quarter. Cubist Systematic Strategies LLC now owns 28,327 shares of the company’s stock worth $78,000 after buying an additional 16,363 shares during the period. 98.26% of the stock is currently owned by hedge funds and other institutional investors.

Terns Pharmaceuticals Stock Up 3.4%

NASDAQ TERN opened at $4.01 on Friday. The company has a 50-day simple moving average of $3.06 and a two-hundred day simple moving average of $3.99. Terns Pharmaceuticals has a 12-month low of $1.87 and a 12-month high of $11.40. The firm has a market cap of $350.22 million, a price-to-earnings ratio of -3.40 and a beta of -0.18.

Terns Pharmaceuticals (NASDAQ:TERNGet Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.03. Equities analysts expect that Terns Pharmaceuticals will post -1.19 earnings per share for the current fiscal year.

Terns Pharmaceuticals Company Profile

(Get Free Report

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.

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Analyst Recommendations for Terns Pharmaceuticals (NASDAQ:TERN)

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