Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Terns Pharmaceuticals has received an average consensus rating of "Moderate Buy" from eight research firms, with target prices ranging from $7.44 to $20.00.
• The company reported earnings of ($0.26) per share for the latest quarter, which exceeded analysts' expectations of ($0.28).
• Institutional investors hold a significant stake in Terns Pharmaceuticals, owning 98.26% of the company’s stock.

Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the eight research firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $16.24.

TERN has been the topic of a number of analyst reports. Barclays initiated coverage on shares of Terns Pharmaceuticals in a research report on Wednesday, September 17th. They issued an "overweight" rating and a $15.00 price objective on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Terns Pharmaceuticals in a report on Wednesday, October 8th. Truist Financial assumed coverage on Terns Pharmaceuticals in a report on Tuesday. They issued a "buy" rating and a $20.00 target price for the company. Finally, HC Wainwright assumed coverage on Terns Pharmaceuticals in a report on Thursday, September 4th. They issued a "neutral" rating and a $7.44 target price for the company.

Institutional Investors Weigh In On Terns Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vontobel Holding Ltd. acquired a new stake in Terns Pharmaceuticals in the first quarter valued at $39,000. Invesco Ltd. lifted its holdings in Terns Pharmaceuticals by 149.3% in the first quarter. Invesco Ltd. now owns 58,345 shares of the company's stock valued at $161,000 after acquiring an additional 34,945 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Terns Pharmaceuticals by 21.0% in the first quarter. Goldman Sachs Group Inc. now owns 415,021 shares of the company's stock valued at $1,145,000 after acquiring an additional 71,971 shares during the period. Graham Capital Management L.P. lifted its holdings in Terns Pharmaceuticals by 70.1% in the first quarter. Graham Capital Management L.P. now owns 226,295 shares of the company's stock valued at $625,000 after acquiring an additional 93,296 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Terns Pharmaceuticals in the first quarter valued at $1,366,000. Institutional investors and hedge funds own 98.26% of the company's stock.

Terns Pharmaceuticals Price Performance

NASDAQ:TERN opened at $8.61 on Friday. The firm's fifty day moving average price is $7.40 and its 200 day moving average price is $5.01. Terns Pharmaceuticals has a 1-year low of $1.87 and a 1-year high of $9.03. The firm has a market cap of $753.46 million, a price-to-earnings ratio of -8.28 and a beta of -0.03.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported ($0.26) earnings per share for the quarter, beating analysts' consensus estimates of ($0.28) by $0.02. As a group, analysts expect that Terns Pharmaceuticals will post -1.19 earnings per share 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.

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