Terns Pharmaceuticals (NASDAQ:TERN) Coverage Initiated at Leerink Partners

Equities research analysts at Leerink Partners assumed coverage on shares of Terns Pharmaceuticals (NASDAQ:TERN) in a research report issued on Monday, MarketBeat.com reports. The firm set an “outperform” rating and a $58.00 price target on the stock. Leerink Partners’ target price indicates a potential upside of 51.87% from the company’s previous close.

Several other research analysts also recently issued reports on the stock. Truist Financial boosted their price objective on shares of Terns Pharmaceuticals from $35.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. Barclays upped their price target on Terns Pharmaceuticals from $36.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday, December 9th. UBS Group upgraded Terns Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, December 4th. JMP Securities set a $35.00 price objective on Terns Pharmaceuticals in a research report on Wednesday, November 26th. Finally, Citizens Jmp upped their target price on Terns Pharmaceuticals from $35.00 to $57.00 and gave the company a “market outperform” rating in a research note on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $55.80.

Terns Pharmaceuticals Stock Up 0.6%

TERN opened at $38.19 on Monday. The stock’s 50 day moving average price is $38.13 and its two-hundred day moving average price is $20.68. The firm has a market capitalization of $3.44 billion, a P/E ratio of -37.08 and a beta of -0.28. Terns Pharmaceuticals has a 12-month low of $1.87 and a 12-month high of $48.26.

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 the consensus estimate of ($0.30) by $0.03. As a group, analysts anticipate that Terns Pharmaceuticals will post -1.19 earnings per share for the current year.

Insider Buying and Selling at Terns Pharmaceuticals

In other Terns Pharmaceuticals news, insider Emil Kuriakose sold 1,155 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $38.57, for a total value of $44,548.35. Following the sale, the insider directly owned 50,365 shares in the company, valued at $1,942,578.05. This represents a 2.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Amy L. Burroughs sold 68,749 shares of Terns Pharmaceuticals stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $37.07, for a total value of $2,548,525.43. Following the transaction, the chief executive officer directly owned 288,976 shares of the company’s stock, valued at approximately $10,712,340.32. The trade was a 19.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 141,243 shares of company stock worth $5,311,090. 1.50% of the stock is owned by insiders.

Institutional Trading of Terns Pharmaceuticals

Several large investors have recently added to or reduced their stakes in TERN. DLD Asset Management LP bought a new position in shares of Terns Pharmaceuticals in the second quarter valued at approximately $138,000. AlphaQuest LLC increased its holdings in Terns Pharmaceuticals by 9,088,200.0% during the 3rd quarter. AlphaQuest LLC now owns 90,883 shares of the company’s stock valued at $683,000 after purchasing an additional 90,882 shares in the last quarter. Candriam S.C.A. raised its position in Terns Pharmaceuticals by 9.9% in the 2nd quarter. Candriam S.C.A. now owns 2,368,235 shares of the company’s stock valued at $8,834,000 after purchasing an additional 214,266 shares during the last quarter. Franklin Resources Inc. acquired a new position in Terns Pharmaceuticals in the second quarter worth $4,765,000. Finally, Velan Capital Investment Management LP grew its holdings in shares of Terns Pharmaceuticals by 17.6% during the second quarter. Velan Capital Investment Management LP now owns 20,000 shares of the company’s stock worth $75,000 after purchasing an additional 3,000 shares during the last quarter. 98.26% of the stock is owned by institutional investors.

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.