Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Receives $16.24 Average Target Price from Brokerages

Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) have been given an average rating of “Moderate Buy” by the eight brokerages that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $16.24.

A number of research analysts have recently weighed in on the stock. HC Wainwright assumed coverage on shares of Terns Pharmaceuticals in a research note on Thursday, September 4th. They set a “neutral” rating and a $7.44 price objective for the company. Truist Financial assumed coverage on shares of Terns Pharmaceuticals in a research note on Tuesday, October 14th. They set a “buy” rating and a $20.00 price objective for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Terns Pharmaceuticals in a research note on Wednesday, October 8th. Finally, Barclays assumed coverage on shares of Terns Pharmaceuticals in a research note on Wednesday, September 17th. They set an “overweight” rating and a $15.00 price objective for the company.

Terns Pharmaceuticals Trading Down 2.3%

Shares of Terns Pharmaceuticals stock opened at $8.41 on Friday. Terns Pharmaceuticals has a 12-month low of $1.87 and a 12-month high of $9.03. The stock has a market cap of $735.96 million, a PE ratio of -8.09 and a beta of -0.03. The company has a 50-day moving average of $7.45 and a two-hundred day moving average of $5.08.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its earnings results on Tuesday, August 5th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.02. On average, sell-side analysts forecast that Terns Pharmaceuticals will post -1.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TERN. Engineers Gate Manager LP purchased a new stake in Terns Pharmaceuticals in the 2nd quarter worth approximately $41,000. BNP Paribas Financial Markets grew its stake in Terns Pharmaceuticals by 11.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 506,777 shares of the company’s stock worth $1,890,000 after acquiring an additional 52,796 shares during the period. Bridgeway Capital Management LLC purchased a new stake in Terns Pharmaceuticals in the 2nd quarter worth approximately $354,000. Adage Capital Partners GP L.L.C. purchased a new stake in Terns Pharmaceuticals in the 2nd quarter worth approximately $4,774,000. Finally, Acuta Capital Partners LLC grew its stake in Terns Pharmaceuticals by 42.5% in the 2nd quarter. Acuta Capital Partners LLC now owns 463,864 shares of the company’s stock worth $1,730,000 after acquiring an additional 138,314 shares during the period. 98.26% of the stock is owned by hedge funds and other institutional investors.

Terns Pharmaceuticals Company Profile

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.