Terns Pharmaceuticals (NASDAQ:TERN) Posts Earnings Results, Beats Estimates By $0.06 EPS

Terns Pharmaceuticals (NASDAQ:TERN) released its quarterly earnings results on Thursday. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.06, Zacks reports.

Terns Pharmaceuticals Price Performance

NASDAQ TERN traded down $0.02 on Thursday, reaching $3.14. 671,036 shares of the company’s stock traded hands, compared to its average volume of 1,390,515. The stock has a market cap of $266.71 million, a PE ratio of -2.66 and a beta of -0.30. Terns Pharmaceuticals has a 12 month low of $3.08 and a 12 month high of $11.40. The stock has a 50-day simple moving average of $4.11 and a 200 day simple moving average of $6.12.

Analysts Set New Price Targets

TERN has been the topic of a number of research analyst reports. JMP Securities restated a “market outperform” rating and issued a $20.00 target price on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. Oppenheimer upped their price objective on shares of Terns Pharmaceuticals from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. William Blair began coverage on shares of Terns Pharmaceuticals in a research note on Friday, February 28th. They issued a “market perform” rating on the stock. Finally, HC Wainwright reissued a “neutral” rating and issued a $7.50 price target on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.30.

Insider Transactions at Terns Pharmaceuticals

In other Terns Pharmaceuticals news, insider Emil Kuriakose sold 4,481 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $5.71, for a total value of $25,586.51. Following the completion of the sale, the insider now directly owns 54,269 shares of the company’s stock, valued at $309,875.99. The trade was a 7.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Mark J. Vignola sold 9,059 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $5.80, for a total transaction of $52,542.20. Following the sale, the chief financial officer now owns 74,752 shares of the company’s stock, valued at approximately $433,561.60. The trade was a 10.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,669 shares of company stock worth $211,040. 15.10% of the stock is currently owned by insiders.

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.