Terns Pharmaceuticals (NASDAQ:TERN) Price Target Raised to $7.50

Terns Pharmaceuticals (NASDAQ:TERN) had its target price boosted by HC Wainwright from $5.50 to $7.50 in a research report released on Wednesday morning,Benzinga reports. HC Wainwright currently has a neutral rating on the stock. HC Wainwright also issued estimates for Terns Pharmaceuticals’ Q4 2024 earnings at ($0.28) EPS, FY2024 earnings at ($1.17) EPS, Q1 2025 earnings at ($0.30) EPS, Q2 2025 earnings at ($0.33) EPS, Q3 2025 earnings at ($0.37) EPS, Q4 2025 earnings at ($0.40) EPS, FY2025 earnings at ($1.41) EPS, FY2026 earnings at ($1.46) EPS, FY2027 earnings at ($1.58) EPS and FY2028 earnings at ($0.64) EPS.

Several other research analysts have also issued reports on TERN. BMO Capital Markets reissued an “outperform” rating and set a $26.00 target price (up from $19.00) on shares of Terns Pharmaceuticals in a research note on Monday, September 16th. Oppenheimer initiated coverage on Terns Pharmaceuticals in a research note on Thursday, October 31st. They set an “outperform” rating and a $82.00 price target on the stock. Finally, JMP Securities boosted their price objective on Terns Pharmaceuticals from $15.00 to $20.00 and gave the company a “market outperform” rating in a report on Tuesday, September 10th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Terns Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $27.25.

Terns Pharmaceuticals Stock Performance

Shares of TERN stock opened at $6.17 on Wednesday. The company has a market cap of $524.07 million, a P/E ratio of -5.23 and a beta of -0.32. Terns Pharmaceuticals has a fifty-two week low of $3.59 and a fifty-two week high of $11.40. The stock has a 50 day simple moving average of $8.03 and a two-hundred day simple moving average of $7.46.

Insider Activity

In related news, CFO Mark J. Vignola sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $11.00, for a total transaction of $110,000.00. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jill M. Quigley sold 17,235 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $10.00, for a total value of $172,350.00. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $150,000. This represents a 53.47 % decrease in their position. The disclosure for this sale can be found here. 15.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Terns Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. nVerses Capital LLC purchased a new position in Terns Pharmaceuticals in the third quarter valued at about $48,000. Simplicity Wealth LLC bought a new stake in shares of Terns Pharmaceuticals during the 2nd quarter valued at about $72,000. Sio Capital Management LLC purchased a new position in Terns Pharmaceuticals in the 3rd quarter worth approximately $83,000. Walleye Trading LLC purchased a new position in Terns Pharmaceuticals in the first quarter worth $98,000. Finally, Kennedy Capital Management LLC bought a new position in shares of Terns Pharmaceuticals during the 1st quarter valued at about $101,000. 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.