Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Get Free Report)'s share price reached a new 52-week high on Friday . The stock traded as high as $9.03 and last traded at $8.61, with a volume of 834918 shares changing hands. The stock had previously closed at $8.50.
Analysts Set New Price Targets
Several analysts have weighed in on the company. Barclays assumed coverage on Terns Pharmaceuticals in a report on Wednesday, September 17th. They issued an "overweight" rating and a $15.00 target price on the stock. HC Wainwright initiated coverage on Terns Pharmaceuticals in a research note on Thursday, September 4th. They set a "neutral" rating and a $7.44 price objective on the stock. Truist Financial initiated coverage on Terns Pharmaceuticals in a research note on Tuesday. They set a "buy" rating and a $20.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Terns Pharmaceuticals in a research note on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Terns Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus price target of $16.24.
Read Our Latest Analysis on TERN
Terns Pharmaceuticals Stock Up 1.3%
The firm has a market cap of $753.46 million, a price-to-earnings ratio of -8.28 and a beta of -0.03. The business has a 50 day moving average of $7.40 and a 200 day moving average of $5.01.
Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.28) by $0.02. Research analysts predict that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current year.
Institutional Trading of Terns Pharmaceuticals
A number of hedge funds have recently added to or reduced their stakes in the business. Candriam S.C.A. boosted its stake in Terns Pharmaceuticals by 9.9% in the 2nd quarter. Candriam S.C.A. now owns 2,368,235 shares of the company's stock worth $8,834,000 after buying an additional 214,266 shares during the last quarter. Geode Capital Management LLC boosted its stake in Terns Pharmaceuticals by 3.8% in the 2nd quarter. Geode Capital Management LLC now owns 1,633,349 shares of the company's stock worth $6,094,000 after buying an additional 59,145 shares during the last quarter. Nuveen LLC acquired a new stake in Terns Pharmaceuticals in the 1st quarter worth about $3,880,000. Adage Capital Partners GP L.L.C. acquired a new stake in Terns Pharmaceuticals in the 2nd quarter worth about $4,774,000. Finally, Franklin Resources Inc. acquired a new stake in Terns Pharmaceuticals in the 2nd quarter worth about $4,765,000. 98.26% of the stock is owned by institutional investors and hedge funds.
About Terns Pharmaceuticals
(
Get Free Report)
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.
Further Reading
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