Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Receives $56.30 Consensus Price Target from Brokerages

Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) have earned a consensus recommendation of “Hold” from the fifteen analysts that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, nine have given a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $55.1364.

A number of research analysts recently issued reports on TERN shares. William Blair downgraded Terns Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. BMO Capital Markets lowered Terns Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. JPMorgan Chase & Co. boosted their target price on Terns Pharmaceuticals from $44.00 to $44.50 and gave the company an “overweight” rating in a research note on Tuesday. TD Cowen downgraded Terns Pharmaceuticals from a “buy” rating to a “hold” rating and set a $53.00 target price for the company. in a report on Thursday, March 26th. Finally, HC Wainwright reaffirmed a “neutral” rating and issued a $53.00 price target (down from $60.00) on shares of Terns Pharmaceuticals in a research note on Wednesday, March 25th.

Insider Buying and Selling at Terns Pharmaceuticals

In other Terns Pharmaceuticals news, CEO Amy L. Burroughs sold 68,749 shares of Terns Pharmaceuticals stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $37.07, for a total transaction of $2,548,525.43. Following the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Emil Kuriakose sold 942 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $52.75, for a total value of $49,690.50. Following the transaction, the insider owned 105,673 shares in the company, valued at $5,574,250.75. This trade represents a 0.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 98,857 shares of company stock valued at $3,850,896 over the last 90 days. Company insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Terns Pharmaceuticals

Several hedge funds have recently made changes to their positions in TERN. Morgan Stanley boosted its holdings in shares of Terns Pharmaceuticals by 4.7% during the 4th quarter. Morgan Stanley now owns 7,945,608 shares of the company’s stock valued at $321,003,000 after buying an additional 356,513 shares in the last quarter. Commodore Capital LP purchased a new position in Terns Pharmaceuticals during the 3rd quarter valued at about $42,807,000. Adage Capital Partners GP L.L.C. boosted its stake in Terns Pharmaceuticals by 40.9% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 5,550,000 shares of the company’s stock worth $224,220,000 after acquiring an additional 1,611,000 shares in the last quarter. Vanguard Group Inc. boosted its stake in Terns Pharmaceuticals by 21.1% during the fourth quarter. Vanguard Group Inc. now owns 5,523,948 shares of the company’s stock worth $223,167,000 after acquiring an additional 964,031 shares in the last quarter. Finally, Vestal Point Capital LP purchased a new stake in Terns Pharmaceuticals in the fourth quarter worth about $181,800,000. 98.26% of the stock is currently owned by institutional investors.

Terns Pharmaceuticals Stock Up 0.1%

NASDAQ:TERN opened at $52.68 on Friday. The firm has a market capitalization of $6.08 billion, a P/E ratio of -51.15 and a beta of -0.37. The company has a fifty day moving average of $45.37 and a 200 day moving average of $33.18. Terns Pharmaceuticals has a 52 week low of $2.21 and a 52 week high of $53.19.

Terns Pharmaceuticals (NASDAQ:TERN) last announced its quarterly earnings results on Thursday, April 2nd. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.06. As a group, analysts anticipate that Terns Pharmaceuticals will post -1.19 EPS for the current year.

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.