Analysts Set Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Price Target at $16.24

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) has been given a consensus rating of “Moderate Buy” by the eight brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $16.24.

A number of research firms recently weighed in on TERN. HC Wainwright began coverage on Terns Pharmaceuticals in a research report on Thursday, September 4th. They set a “neutral” rating and a $7.44 target price on the stock. Barclays began coverage on Terns Pharmaceuticals in a research report on Wednesday, September 17th. They set an “overweight” rating and a $15.00 target price on the stock. Truist Financial initiated coverage on Terns Pharmaceuticals in a research report on Tuesday, October 14th. They set a “buy” rating and a $20.00 target price on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Terns Pharmaceuticals in a report on Wednesday, October 8th.

Terns Pharmaceuticals Stock Down 5.8%

TERN stock opened at $8.12 on Friday. Terns Pharmaceuticals has a twelve month low of $1.87 and a twelve month high of $9.03. The company has a market cap of $710.58 million, a PE ratio of -7.81 and a beta of -0.03. The business’s 50-day simple moving average is $7.53 and its 200 day simple moving average is $5.15.

Terns Pharmaceuticals (NASDAQ:TERN) last released its earnings results on Tuesday, August 5th. The company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.02. On average, equities research analysts anticipate that Terns Pharmaceuticals will post -1.19 EPS for the current year.

Institutional Investors Weigh In On Terns Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in TERN. Vontobel Holding Ltd. acquired a new stake in Terns Pharmaceuticals during the first quarter valued at approximately $39,000. Invesco Ltd. boosted its holdings in Terns Pharmaceuticals by 149.3% during the first quarter. Invesco Ltd. now owns 58,345 shares of the company’s stock valued at $161,000 after purchasing an additional 34,945 shares in the last quarter. Nuveen LLC acquired a new stake in Terns Pharmaceuticals during the first quarter valued at approximately $3,880,000. Wellington Management Group LLP boosted its holdings in Terns Pharmaceuticals by 44.3% during the first quarter. Wellington Management Group LLP now owns 321,163 shares of the company’s stock valued at $886,000 after purchasing an additional 98,649 shares in the last quarter. Finally, EntryPoint Capital LLC boosted its holdings in Terns Pharmaceuticals by 21.4% during the first quarter. EntryPoint Capital LLC now owns 73,293 shares of the company’s stock valued at $202,000 after purchasing an additional 12,905 shares in the last quarter. 98.26% of the stock is owned by institutional investors and hedge funds.

About Terns Pharmaceuticals

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.