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

Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Get Free Report) have received an average rating of "Moderate Buy" from the five brokerages that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $15.63.

TERN has been the subject of several research analyst reports. JMP Securities restated 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 reduced their price target on shares of Terns Pharmaceuticals from $26.00 to $15.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Finally, William Blair restated a "market perform" rating on shares of Terns Pharmaceuticals in a research report on Friday, March 21st.

Hedge Funds Weigh In On Terns Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TERN. Goldman Sachs Group Inc. boosted its holdings in shares of 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. Dynamic Technology Lab Private Ltd purchased a new position in Terns Pharmaceuticals in the first quarter worth $51,000. Parkman Healthcare Partners LLC raised its position in Terns Pharmaceuticals by 15.8% in the first quarter. Parkman Healthcare Partners LLC now owns 959,703 shares of the company's stock worth $2,649,000 after acquiring an additional 130,598 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Terns Pharmaceuticals in the first quarter worth $1,366,000. Finally, Cubist Systematic Strategies LLC increased its position in shares of Terns Pharmaceuticals by 136.8% in the first quarter. Cubist Systematic Strategies LLC now owns 28,327 shares of the company's stock valued at $78,000 after buying an additional 16,363 shares in the last quarter. 98.26% of the stock is owned by institutional investors and hedge funds.

Terns Pharmaceuticals Trading Down 1.3%

NASDAQ TERN opened at $3.88 on Friday. The firm's fifty day simple moving average is $3.02 and its two-hundred day simple moving average is $4.04. Terns Pharmaceuticals has a 12-month low of $1.87 and a 12-month high of $11.40. The firm has a market capitalization of $338.87 million, a P/E ratio of -3.29 and a beta of -0.18.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.26) earnings per share for the quarter, beating analysts' consensus estimates of ($0.29) by $0.03. As a group, sell-side analysts predict 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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