Analysts Set Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Target Price at $15.63

Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Get Free Report) have received an average rating of "Moderate Buy" from the five research firms that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $15.63.

Several analysts have recently commented on the company. BMO Capital Markets lowered their price objective 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. William Blair reissued a "market perform" rating on shares of Terns Pharmaceuticals in a research report on Friday, March 21st. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $20.00 price objective on shares of Terns Pharmaceuticals in a report on Monday, April 21st.

Insider Activity at Terns Pharmaceuticals

In other Terns Pharmaceuticals news, CFO Andrew Gengos acquired 10,000 shares of Terns Pharmaceuticals stock in a transaction on Friday, June 13th. The stock was purchased at an average price of $3.73 per share, for a total transaction of $37,300.00. Following the purchase, the chief financial officer now directly owns 10,000 shares of the company's stock, valued at $37,300. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Terns Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Thrive Wealth Management LLC purchased a new stake in Terns Pharmaceuticals during the first quarter worth about $29,000. Vontobel Holding Ltd. purchased a new stake in shares of Terns Pharmaceuticals during the 1st quarter worth approximately $39,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Terns Pharmaceuticals during the 1st quarter worth approximately $51,000. Landscape Capital Management L.L.C. bought a new stake in shares of Terns Pharmaceuticals in the 4th quarter worth approximately $73,000. Finally, Townsquare Capital LLC purchased a new position in Terns Pharmaceuticals in the fourth quarter valued at approximately $76,000. 98.26% of the stock is owned by hedge funds and other institutional investors.

Terns Pharmaceuticals Price Performance

Shares of NASDAQ:TERN traded down $0.11 during midday trading on Friday, hitting $3.90. 1,178,821 shares of the company's stock were exchanged, compared to its average volume of 1,500,729. Terns Pharmaceuticals has a 12 month low of $1.87 and a 12 month high of $11.40. The company has a market cap of $340.63 million, a PE ratio of -3.58 and a beta of -0.18. The stock has a 50 day moving average price of $3.09 and a 200-day moving average price of $3.99.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.29) by $0.03. On average, analysts anticipate that Terns Pharmaceuticals will post -1.19 EPS for the current fiscal year.

About Terns Pharmaceuticals

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.