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

Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Get Free Report) have earned an average rating of "Moderate Buy" from the five brokerages that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $15.63.

TERN has been the topic of several research reports. BMO Capital Markets lowered their price target on shares of Terns Pharmaceuticals from $26.00 to $15.00 and set an "outperform" rating on the stock in a research report 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 reissued a "market outperform" rating and issued a $20.00 price target on shares of Terns Pharmaceuticals in a research report on Monday, April 21st.

Insider Activity at Terns Pharmaceuticals

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

Hedge Funds Weigh In On Terns Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of TERN. Bank of New York Mellon Corp grew its stake in Terns Pharmaceuticals by 15.4% in the 4th quarter. Bank of New York Mellon Corp now owns 186,308 shares of the company's stock worth $1,032,000 after buying an additional 24,930 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Terns Pharmaceuticals by 33.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 206,450 shares of the company's stock worth $1,144,000 after buying an additional 51,736 shares in the last quarter. HighTower Advisors LLC purchased a new position in Terns Pharmaceuticals in the 4th quarter worth approximately $468,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in Terns Pharmaceuticals by 41.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 74,858 shares of the company's stock worth $415,000 after buying an additional 21,845 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Terns Pharmaceuticals by 33.4% in the 4th quarter. American Century Companies Inc. now owns 113,225 shares of the company's stock worth $627,000 after buying an additional 28,330 shares in the last quarter. Hedge funds and other institutional investors own 98.26% of the company's stock.

Terns Pharmaceuticals Stock Up 13.3%

NASDAQ TERN opened at $4.53 on Wednesday. The company's 50 day moving average is $3.52 and its 200-day moving average is $3.73. Terns Pharmaceuticals has a 12-month low of $1.87 and a 12-month high of $11.40. The firm has a market cap of $395.65 million, a P/E ratio of -4.16 and a beta of -0.11.

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

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