Terns Pharmaceuticals (NASDAQ:TERN) Earns Market Perform Rating from Oppenheimer

Key Points

• Oppenheimer reiterated a "Market Perform" rating on Terns with a $58 price target (about a 9.6% upside), while the analyst consensus remains a Hold with a $55.14 average target after several recent downgrades.
• Shares traded around $52.91 (near the 52‑week high of $53.19) with a $6.11 billion market cap and a negative P/E of -51.36; the company reported Q1 EPS of -$0.24, beating estimates of -$0.30.
• Insiders have been net sellers (30,108 shares worth ~$1.3M sold last quarter, including sales by the CEO), leaving insiders with 1.5% ownership while institutional investors hold about 98.26%.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report)'s stock had its "market perform" rating reiterated by research analysts at Oppenheimer in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $58.00 price objective on the stock. Oppenheimer's price target would indicate a potential upside of 9.63% from the stock's current price.

A number of other analysts have also recently commented on TERN. BMO Capital Markets cut Terns Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 26th. Wall Street Zen lowered shares of Terns Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Saturday, March 21st. Mizuho set a $53.00 price objective on shares of Terns Pharmaceuticals in a report on Friday, March 27th. William Blair lowered shares of Terns Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 7th. Finally, Barclays restated an "equal weight" rating and issued a $53.00 price objective (down from $56.00) on shares of Terns Pharmaceuticals in a report on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $55.14.

Terns Pharmaceuticals Stock Performance

Shares of TERN traded up $0.02 during mid-day trading on Monday, reaching $52.91. The company had a trading volume of 747,846 shares, compared to its average volume of 4,899,822. The firm has a 50-day moving average price of $47.82 and a 200 day moving average price of $35.70. Terns Pharmaceuticals has a 52 week low of $2.65 and a 52 week high of $53.19. The company has a market capitalization of $6.11 billion, a price-to-earnings ratio of -51.36 and a beta of -0.37.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last issued its quarterly earnings results on Monday, March 30th. The company reported ($0.24) EPS for the quarter, topping analysts' consensus estimates of ($0.30) by $0.06. As a group, research analysts forecast that Terns Pharmaceuticals will post -1.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Terns Pharmaceuticals news, insider Emil Kuriakose sold 942 shares of the business's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $52.75, for a total transaction of $49,690.50. Following the completion of the sale, the insider directly owned 105,673 shares in the company, valued at approximately $5,574,250.75. The trade was a 0.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Amy L. Burroughs sold 14,583 shares of the business's stock in a transaction on Monday, March 16th. The shares were sold at an average price of $46.71, for a total transaction of $681,171.93. Following the sale, the chief executive officer owned 288,976 shares of the company's stock, valued at approximately $13,498,068.96. This represents a 4.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 30,108 shares of company stock valued at $1,302,370. Company insiders own 1.50% of the company's stock.

Institutional Investors Weigh In On Terns Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in TERN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Terns Pharmaceuticals during the 4th quarter valued at $25,000. GAMMA Investing LLC raised its stake in Terns Pharmaceuticals by 762.4% during the 4th quarter. GAMMA Investing LLC now owns 871 shares of the company's stock valued at $35,000 after buying an additional 770 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in Terns Pharmaceuticals during the 2nd quarter valued at $41,000. iA Global Asset Management Inc. bought a new stake in shares of Terns Pharmaceuticals during the 4th quarter valued at $43,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Terns Pharmaceuticals during the 2nd quarter valued at $46,000. 98.26% of the stock is currently owned by hedge funds and other institutional investors.

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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