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

Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the five analysts that are presently covering the company, Marketbeat Ratings 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 target price among brokerages that have issued ratings on the stock in the last year is $15.63.

TERN has been the topic of several analyst reports. JMP Securities reiterated a "market outperform" rating and set a $20.00 target price on shares of Terns Pharmaceuticals in a report on Monday, April 21st. William Blair reiterated a "market perform" rating on shares of Terns Pharmaceuticals in a report on Friday, March 21st. Finally, BMO Capital Markets dropped their target price on Terns Pharmaceuticals from $26.00 to $15.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th.

Insider Activity at Terns Pharmaceuticals

In other Terns Pharmaceuticals news, CFO Andrew Gengos acquired 10,000 shares of the company's stock in a transaction on Friday, June 27th. The shares were bought at an average cost of $3.93 per share, for a total transaction of $39,300.00. Following the acquisition, the chief financial officer directly owned 25,000 shares of the company's stock, valued at $98,250. This trade represents a 66.67% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Amy L. Burroughs acquired 23,314 shares of the company's stock in a transaction on Wednesday, June 25th. The shares were acquired at an average price of $3.87 per share, for a total transaction of $90,225.18. Following the completion of the acquisition, the chief executive officer directly owned 47,083 shares in the company, valued at $182,211.21. The trade was a 98.09% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 48,314 shares of company stock worth $186,575 over the last 90 days. 1.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Terns Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. Invesco Ltd. increased its holdings in shares of Terns Pharmaceuticals by 13.3% in the 4th quarter. Invesco Ltd. now owns 23,400 shares of the company's stock valued at $130,000 after acquiring an additional 2,753 shares during the last quarter. Corebridge Financial Inc. boosted its position in Terns Pharmaceuticals by 13.5% during the 4th quarter. Corebridge Financial Inc. now owns 34,951 shares of the company's stock valued at $194,000 after purchasing an additional 4,169 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Terns Pharmaceuticals by 26.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,784 shares of the company's stock valued at $220,000 after purchasing an additional 8,261 shares during the period. ProShare Advisors LLC boosted its position in Terns Pharmaceuticals by 58.4% during the 4th quarter. ProShare Advisors LLC now owns 23,821 shares of the company's stock valued at $132,000 after purchasing an additional 8,784 shares during the period. Finally, MetLife Investment Management LLC boosted its position in Terns Pharmaceuticals by 27.7% during the 4th quarter. MetLife Investment Management LLC now owns 43,760 shares of the company's stock valued at $242,000 after purchasing an additional 9,500 shares during the period. 98.26% of the stock is currently owned by hedge funds and other institutional investors.

Terns Pharmaceuticals Stock Performance

Shares of NASDAQ TERN traded up $0.03 during midday trading on Wednesday, hitting $4.90. The stock had a trading volume of 718,708 shares, compared to its average volume of 1,462,702. Terns Pharmaceuticals has a 1-year low of $1.87 and a 1-year high of $11.40. The company has a fifty day moving average price of $3.60 and a 200 day moving average price of $3.72.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.03. Equities analysts predict that Terns Pharmaceuticals will post -1.19 EPS 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.