Terns Pharmaceuticals (NASDAQ:TERN) Downgraded to "Hold" Rating by Leerink Partners

Key Points

• Leerink Partners downgraded Terns from a "strong-buy" to a "hold," and multiple other firms cut ratings, leaving a MarketBeat consensus rating of Hold with a $56.30 consensus price target.
• Shares are trading near their 52‑week high (opened at $52.66, 52‑week high $53.19) with a $6.08 billion market cap; Terns beat quarterly EPS (-$0.24 vs. -$0.30) but analysts still forecast a -$1.19 full‑year EPS.
• Significant insider selling: CEO Amy Burroughs sold 68,749 shares (reducing her stake by 19.22%), and insiders sold a total of 98,857 shares worth about $3.85 million during the last quarter.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) was downgraded by Leerink Partners from a "strong-buy" rating to a "hold" rating in a research note issued on Wednesday,Zacks.com reports.

Several other equities research analysts also recently issued reports on the company. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Terns Pharmaceuticals in a report on Friday, March 27th. TD Cowen lowered shares of Terns Pharmaceuticals from a "buy" rating to a "hold" rating and set a $53.00 price objective on the stock. in a research report on Thursday, March 26th. HC Wainwright restated a "neutral" rating and set a $53.00 target price (down from $60.00) on shares of Terns Pharmaceuticals in a research note on Wednesday, March 25th. Wall Street Zen lowered shares of Terns Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, March 21st. Finally, Citizens Jmp cut shares of Terns Pharmaceuticals from a "market outperform" rating to a "hold" rating in a report on Thursday, March 26th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $56.30.

Terns Pharmaceuticals Stock Performance

Terns Pharmaceuticals stock opened at $52.66 on Wednesday. Terns Pharmaceuticals has a 52 week low of $1.94 and a 52 week high of $53.19. The stock has a market capitalization of $6.08 billion, a P/E ratio of -51.13 and a beta of -0.37. The stock has a 50-day simple moving average of $44.04 and a 200 day simple moving average of $31.74.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last released its quarterly earnings data on Thursday, April 2nd. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.06. Research analysts forecast that Terns Pharmaceuticals will post -1.19 earnings per share for the current year.

Insider Buying and Selling at Terns Pharmaceuticals

In related news, CEO Amy L. Burroughs sold 68,749 shares of the company's stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $37.07, for a total value of $2,548,525.43. Following the transaction, the chief executive officer directly owned 288,976 shares in the company, valued at approximately $10,712,340.32. This represents a 19.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Emil Kuriakose sold 942 shares of the firm's stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $52.75, for a total transaction of $49,690.50. Following the transaction, the insider directly owned 105,673 shares in the company, valued at approximately $5,574,250.75. This represents a 0.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 98,857 shares of company stock worth $3,850,896 in the last quarter. Company insiders own 1.50% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Terns Pharmaceuticals in the fourth quarter valued at approximately $25,000. GAMMA Investing LLC grew its position in Terns Pharmaceuticals by 762.4% during the fourth quarter. GAMMA Investing LLC now owns 871 shares of the company's stock worth $35,000 after buying an additional 770 shares in the last quarter. iA Global Asset Management Inc. acquired a new stake in Terns Pharmaceuticals during the fourth quarter worth approximately $43,000. FNY Investment Advisers LLC bought a new position in Terns Pharmaceuticals during the 4th quarter worth $80,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Terns Pharmaceuticals by 61.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,207 shares of the company's stock valued at $89,000 after acquiring an additional 841 shares in the last quarter. Institutional investors and hedge funds own 98.26% of the company's stock.

Terns Pharmaceuticals Company Profile

Terns Pharmaceuticals, Inc is a clinical‐stage biopharmaceutical company focused on developing oral small‐molecule therapies for the treatment of chronic liver diseases and other serious conditions. The company's research and development efforts center on novel mechanisms of action designed to address the underlying causes of progressive liver disorders, including inflammation, fibrosis and metabolic dysregulation. By advancing targeted compounds that can be administered orally, Terns aims to offer patients more convenient and effective treatment options compared to injectable or biologic therapies.

The company's pipeline features several candidates in various stages of preclinical and clinical evaluation.

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