Oppenheimer Boosts Terns Pharmaceuticals (NASDAQ:TERN) Price Target to $20.00

Terns Pharmaceuticals (NASDAQ:TERN) had its price objective increased by analysts at Oppenheimer from $17.00 to $20.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s target price would indicate a potential upside of 214.47% from the company’s previous close.

Other research analysts also recently issued research reports about the company. JMP Securities raised their target price 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. HC Wainwright restated a “neutral” rating and issued a $7.50 price objective on shares of Terns Pharmaceuticals in a research report on Wednesday. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $26.00 target price (up from $19.00) on shares of Terns Pharmaceuticals in a research note on Monday, September 16th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.30.

Terns Pharmaceuticals Stock Up 3.4 %

NASDAQ TERN opened at $6.36 on Wednesday. The firm has a market cap of $540.22 million, a P/E ratio of -5.39 and a beta of -0.36. The company’s 50 day moving average is $7.10 and its 200-day moving average is $7.51. Terns Pharmaceuticals has a 12-month low of $4.32 and a 12-month high of $11.40.

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

Insider Buying and Selling at Terns Pharmaceuticals

In related news, Director Hongbo Lu acquired 476,190 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were purchased at an average price of $10.50 per share, for a total transaction of $4,999,995.00. Following the completion of the acquisition, the director now owns 476,190 shares in the company, valued at approximately $4,999,995. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CFO Mark J. Vignola sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $11.00, for a total transaction of $110,000.00. Following the transaction, the chief financial officer now directly owns 91,940 shares of the company’s stock, valued at approximately $1,011,340. This trade represents a 9.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 15.10% of the company’s stock.

Hedge Funds Weigh In On Terns Pharmaceuticals

A number of institutional investors have recently bought and sold shares of TERN. Charles Schwab Investment Management Inc. boosted its position in shares of Terns Pharmaceuticals by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 154,714 shares of the company’s stock valued at $1,290,000 after purchasing an additional 1,994 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Terns Pharmaceuticals by 12.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,694 shares of the company’s stock valued at $136,000 after buying an additional 2,261 shares in the last quarter. Bleakley Financial Group LLC grew its position in shares of Terns Pharmaceuticals by 26.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 13,312 shares of the company’s stock worth $111,000 after buying an additional 2,751 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Terns Pharmaceuticals by 28.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,645 shares of the company’s stock worth $154,000 after acquiring an additional 5,049 shares in the last quarter. Finally, Creative Planning lifted its position in Terns Pharmaceuticals by 27.2% during the 3rd quarter. Creative Planning now owns 25,310 shares of the company’s stock valued at $211,000 after acquiring an additional 5,409 shares during the period. 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.