Terns Pharmaceuticals’ (TERN) Neutral Rating Reaffirmed at HC Wainwright

Terns Pharmaceuticals (NASDAQ:TERN)‘s stock had its “neutral” rating reaffirmed by investment analysts at HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $7.50 target price on the stock. HC Wainwright’s price target would indicate a potential upside of 17.92% from the company’s previous close.

Several other analysts also recently commented on TERN. Oppenheimer initiated coverage on Terns Pharmaceuticals in a research note on Thursday, October 31st. They issued an “outperform” rating and a $82.00 price objective for the company. BMO Capital Markets reissued an “outperform” rating and issued a $26.00 price objective (up from $19.00) on shares of Terns Pharmaceuticals in a research note on Monday, September 16th. Finally, JMP Securities increased their price objective on Terns Pharmaceuticals from $15.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Tuesday, September 10th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.30.

Terns Pharmaceuticals Price Performance

Shares of Terns Pharmaceuticals stock opened at $6.36 on Wednesday. Terns Pharmaceuticals has a one year low of $4.32 and a one year high of $11.40. The stock’s 50-day moving average is $7.10 and its 200 day moving average is $7.51. The firm has a market cap of $540.22 million, a price-to-earnings ratio of -5.39 and a beta of -0.36.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.05. On average, sell-side analysts expect that Terns Pharmaceuticals will post -1.22 EPS for the current fiscal year.

Insider Activity

In other Terns Pharmaceuticals news, Director Hongbo Lu acquired 476,190 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were bought at an average price of $10.50 per share, for a total transaction of $4,999,995.00. Following the completion of the transaction, the director now owns 476,190 shares of the company’s stock, valued at approximately $4,999,995. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark J. Vignola sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $11.00, for a total value of $110,000.00. Following the transaction, the chief financial officer now directly owns 91,940 shares of the company’s stock, valued at $1,011,340. The trade was a 9.81 % decrease in their position. The disclosure for this sale can be found here. 15.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Terns Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC lifted its holdings in shares of Terns Pharmaceuticals by 110.2% during the 3rd quarter. Virtu Financial LLC now owns 62,216 shares of the company’s stock worth $519,000 after acquiring an additional 32,624 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Terns Pharmaceuticals by 7.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,207,479 shares of the company’s stock worth $10,072,000 after acquiring an additional 85,617 shares during the last quarter. XTX Topco Ltd purchased a new position in Terns Pharmaceuticals in the 3rd quarter worth $148,000. Point72 Asset Management L.P. raised its position in Terns Pharmaceuticals by 0.6% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,707,515 shares of the company’s stock worth $22,581,000 after purchasing an additional 17,139 shares during the period. Finally, Polymer Capital Management HK LTD purchased a new position in Terns Pharmaceuticals in the 3rd quarter worth $200,000. 98.26% of the stock is owned by institutional investors.

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.