Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Terns Pharmaceuticals has received a consensus recommendation of "Moderate Buy" from five research firms, with an average target price of $15.63 per share.
• Insider purchases have increased recently, with CFO Andrew Gengos and CEO Amy L. Burroughs significantly boosting their stakes, reflecting confidence in the company's prospects.
• As of now, institutional investors and hedge funds own 98.26% of Terns Pharmaceuticals, indicating strong institutional interest in the stock.

Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Get Free Report) have earned a consensus rating of "Moderate Buy" from the five analysts that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $15.6250.

A number of equities analysts recently commented on TERN shares. JMP Securities reaffirmed a "market outperform" rating and set a $20.00 price target on shares of Terns Pharmaceuticals in a research report on Monday, April 21st. BMO Capital Markets cut their price target on Terns Pharmaceuticals from $26.00 to $15.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th.

Terns Pharmaceuticals Stock Performance

NASDAQ:TERN traded up $0.28 during mid-day trading on Friday, hitting $5.75. The stock had a trading volume of 1,344,723 shares, compared to its average volume of 1,162,469. Terns Pharmaceuticals has a twelve month low of $1.87 and a twelve month high of $11.40. The stock has a market cap of $502.19 million, a price-to-earnings ratio of -5.28 and a beta of -0.06. The company's 50 day simple moving average is $4.41 and its 200 day simple moving average is $3.74.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.03. As a group, equities analysts forecast that Terns Pharmaceuticals will post -1.19 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Andrew Gengos bought 10,000 shares of the firm's stock in a transaction 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 completion of the purchase, the chief financial officer owned 25,000 shares in the company, valued at $98,250. This represents a 66.67% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Amy L. Burroughs bought 23,314 shares of the firm's stock in a transaction on Wednesday, June 25th. The shares were bought at an average cost of $3.87 per share, for a total transaction of $90,225.18. Following the purchase, the chief executive officer owned 47,083 shares of the company's stock, valued at approximately $182,211.21. The trade was a 98.09% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 48,314 shares of company stock worth $186,575. Insiders own 1.50% of the company's stock.

Hedge Funds Weigh In On Terns Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Thrive Wealth Management LLC bought a new stake in shares of Terns Pharmaceuticals in the 1st quarter valued at about $29,000. Vontobel Holding Ltd. acquired a new position in shares of Terns Pharmaceuticals in the first quarter worth approximately $39,000. LeConte Wealth Management LLC acquired a new position in shares of Terns Pharmaceuticals in the second quarter worth approximately $47,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Terns Pharmaceuticals in the first quarter worth approximately $51,000. Finally, Landscape Capital Management L.L.C. acquired a new position in shares of Terns Pharmaceuticals in the fourth quarter worth approximately $73,000. 98.26% of the stock is currently owned by institutional investors and hedge funds.

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.