Brokerages Set Terns Pharmaceuticals, Inc. (NASDAQ:TERN) PT at $14.94

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) has been assigned an average recommendation of “Moderate Buy” from the eight analysts that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $14.94.

Several analysts have issued reports on the stock. UBS Group reduced their price target on shares of Terns Pharmaceuticals from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, March 27th. BMO Capital Markets boosted their price objective on shares of Terns Pharmaceuticals from $18.00 to $19.00 and gave the company an “outperform” rating in a research report on Friday, March 15th. JMP Securities reissued a “market outperform” rating and issued a $15.00 price objective on shares of Terns Pharmaceuticals in a research report on Tuesday, April 30th. Finally, HC Wainwright reissued a “neutral” rating and issued a $5.50 price objective on shares of Terns Pharmaceuticals in a research report on Tuesday, May 14th.

Insider Buying and Selling

In related news, major shareholder Vivo Opportunity, Llc sold 181,117 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $6.99, for a total transaction of $1,266,007.83. Following the completion of the transaction, the insider now owns 275,772 shares of the company’s stock, valued at $1,927,646.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 17.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Terns Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of TERN. Pale Fire Capital SE acquired a new position in Terns Pharmaceuticals during the third quarter worth approximately $76,000. PEAK6 Investments LLC increased its position in shares of Terns Pharmaceuticals by 35.5% in the third quarter. PEAK6 Investments LLC now owns 19,097 shares of the company’s stock worth $96,000 after acquiring an additional 5,000 shares in the last quarter. Braidwell LP increased its position in shares of Terns Pharmaceuticals by 54.2% in the third quarter. Braidwell LP now owns 2,840,052 shares of the company’s stock worth $14,285,000 after acquiring an additional 997,700 shares in the last quarter. Affinity Asset Advisors LLC acquired a new stake in shares of Terns Pharmaceuticals in the third quarter worth $1,635,000. Finally, Graham Capital Management L.P. increased its position in shares of Terns Pharmaceuticals by 186.3% in the third quarter. Graham Capital Management L.P. now owns 82,978 shares of the company’s stock worth $417,000 after acquiring an additional 53,998 shares in the last quarter. Institutional investors and hedge funds own 98.26% of the company’s stock.

Terns Pharmaceuticals Price Performance

Shares of NASDAQ TERN opened at $6.00 on Monday. Terns Pharmaceuticals has a 12-month low of $3.26 and a 12-month high of $13.03. The company has a market capitalization of $388.08 million, a PE ratio of -4.76 and a beta of -0.49. The firm’s 50-day moving average is $5.66 and its two-hundred day moving average is $5.92.

Terns Pharmaceuticals (NASDAQ:TERN) last announced its quarterly earnings results on Thursday, March 14th. The company reported ($0.29) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.29). On average, analysts forecast that Terns Pharmaceuticals will post -1.41 EPS for the current fiscal year.

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.