Brokerages Set Terns Pharmaceuticals, Inc. (NASDAQ:TERN) PT at $15.49

Key Points

• Terns Pharmaceuticals has received an average analyst rating of "Moderate Buy", with four analysts recommending buying the stock and two suggesting holding.
• The company reported earnings of ($0.26) per share, which exceeded the consensus estimate, and analysts project an EPS of -1.19 for the current year.
• Insider trading activity includes purchases by CFO Andrew Gengos and CEO Amy L. Burroughs, both significantly increasing their positions in the company.

Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the six ratings firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $15.4880.

TERN has been the subject of several research reports. Barclays began coverage on shares of Terns Pharmaceuticals in a research note on Wednesday, September 17th. They set an "overweight" rating and a $15.00 price objective for the company. HC Wainwright initiated coverage on shares of Terns Pharmaceuticals in a research report on Thursday, September 4th. They set a "neutral" rating and a $7.44 price target for the company.

Insider Transactions at Terns Pharmaceuticals

In other news, CFO Andrew Gengos purchased 10,000 shares of the company's stock in a transaction that occurred on Friday, June 27th. The shares were purchased at an average price of $3.93 per share, with a total value of $39,300.00. Following the purchase, the chief financial officer directly owned 25,000 shares of the company's stock, valued at approximately $98,250. This represents a 66.67% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Amy L. Burroughs purchased 23,314 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The shares were purchased at an average cost of $3.87 per share, for a total transaction of $90,225.18. Following the purchase, the chief executive officer directly owned 47,083 shares in the company, valued at $182,211.21. This trade represents a 98.09% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE lifted its holdings in shares of Terns Pharmaceuticals by 236.8% in the 4th quarter. Bank of America Corp DE now owns 197,226 shares of the company's stock worth $1,093,000 after purchasing an additional 138,661 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in shares of Terns Pharmaceuticals by 53.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 57,341 shares of the company's stock worth $318,000 after purchasing an additional 19,870 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Terns Pharmaceuticals by 26.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,784 shares of the company's stock worth $220,000 after purchasing an additional 8,261 shares during the last quarter. Nuveen Asset Management LLC increased its holdings in shares of Terns Pharmaceuticals by 30.6% in the 4th quarter. Nuveen Asset Management LLC now owns 2,633,918 shares of the company's stock worth $14,592,000 after acquiring an additional 617,009 shares during the period. Finally, ProShare Advisors LLC increased its holdings in shares of Terns Pharmaceuticals by 58.4% in the 4th quarter. ProShare Advisors LLC now owns 23,821 shares of the company's stock worth $132,000 after acquiring an additional 8,784 shares during the period. 98.26% of the stock is owned by institutional investors and hedge funds.

Terns Pharmaceuticals Trading Up 0.1%

Shares of TERN traded up $0.01 during trading hours on Monday, hitting $7.54. The stock had a trading volume of 813,074 shares, compared to its average volume of 1,070,285. The company's fifty day simple moving average is $6.53 and its 200 day simple moving average is $4.40. Terns Pharmaceuticals has a 12-month low of $1.87 and a 12-month high of $10.16.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.02. On average, equities research analysts forecast that Terns Pharmaceuticals will post -1.19 earnings per share for the current 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.