Terns Pharmaceuticals (NASDAQ:TERN) Sets New 12-Month High - What's Next?

Key Points

• Terns Pharmaceuticals stock reached a new 52-week high of $8.78, reflecting a trading volume of 116,090 shares.
• Analysts have mixed ratings on Terns Pharmaceuticals, with Barclays issuing an "overweight" rating and price target of $15, while Weiss Ratings maintains a "sell" rating.
• The company's market capitalization stands at approximately $741.30 million, with forecasted average earnings per share of -1.19 for the current fiscal year.

Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $8.78 and last traded at $8.49, with a volume of 116090 shares trading hands. The stock had previously closed at $8.23.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on TERN shares. Barclays began coverage on shares of Terns Pharmaceuticals in a research report on Wednesday, September 17th. They issued an "overweight" rating and a $15.00 price objective on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Terns Pharmaceuticals in a report on Saturday, September 27th. Finally, HC Wainwright started coverage on Terns Pharmaceuticals in a report on Thursday, September 4th. They issued a "neutral" rating and a $7.44 price objective on the stock. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $15.49.

Terns Pharmaceuticals Stock Up 2.9%

The company has a market capitalization of $741.30 million, a price-to-earnings ratio of -8.22 and a beta of -0.03. The company has a 50 day simple moving average of $6.95 and a 200 day simple moving average of $4.71.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported ($0.26) earnings per share for the quarter, topping analysts' consensus estimates of ($0.28) by $0.02. On average, research analysts forecast that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Terns Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of TERN. Vontobel Holding Ltd. purchased a new position in shares of Terns Pharmaceuticals in the first quarter valued at $39,000. Invesco Ltd. lifted its holdings in Terns Pharmaceuticals by 149.3% in the 1st quarter. Invesco Ltd. now owns 58,345 shares of the company's stock worth $161,000 after buying an additional 34,945 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Terns Pharmaceuticals by 21.0% during the first quarter. Goldman Sachs Group Inc. now owns 415,021 shares of the company's stock valued at $1,145,000 after acquiring an additional 71,971 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Terns Pharmaceuticals by 1,141.5% during the first quarter. SG Americas Securities LLC now owns 413,822 shares of the company's stock valued at $1,142,000 after acquiring an additional 380,489 shares in the last quarter. Finally, Graham Capital Management L.P. increased its position in shares of Terns Pharmaceuticals by 70.1% during the first quarter. Graham Capital Management L.P. now owns 226,295 shares of the company's stock worth $625,000 after acquiring an additional 93,296 shares during the last quarter. Hedge funds and other institutional investors own 98.26% of the company's stock.

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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