Terns Pharmaceuticals (NASDAQ:TERN) Price Target Raised to $44.50

Terns Pharmaceuticals (NASDAQ:TERN) had its price target raised by JPMorgan Chase & Co. from $44.00 to $44.50 in a research report sent to investors on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

TERN has been the subject of a number of other reports. HC Wainwright reaffirmed a “neutral” rating and issued a $53.00 target price (down from $60.00) on shares of Terns Pharmaceuticals in a report on Wednesday, March 25th. Citizens Jmp cut shares of Terns Pharmaceuticals from a “market outperform” rating to a “hold” rating in a research note on Thursday, March 26th. Truist Financial cut shares of Terns Pharmaceuticals from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $56.00 to $53.00 in a research note on Tuesday, March 31st. Weiss Ratings reissued a “sell (e+)” rating on shares of Terns Pharmaceuticals in a research note on Friday, March 27th. Finally, BMO Capital Markets cut shares of Terns Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $55.14.

Terns Pharmaceuticals Trading Down 0.0%

Shares of Terns Pharmaceuticals stock opened at $52.69 on Tuesday. Terns Pharmaceuticals has a 12-month low of $2.23 and a 12-month high of $53.19. The stock has a market cap of $6.08 billion, a PE ratio of -51.16 and a beta of -0.37. The company has a 50-day moving average of $46.05 and a two-hundred day moving average of $33.45.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its earnings results on Thursday, April 2nd. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.06. On average, sell-side analysts forecast that Terns Pharmaceuticals will post -1.19 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Emil Kuriakose sold 942 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $52.75, for a total transaction of $49,690.50. Following the completion of the transaction, the insider directly owned 105,673 shares of the company’s stock, valued at $5,574,250.75. This trade represents a 0.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Amy L. Burroughs sold 14,583 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $46.71, for a total transaction of $681,171.93. Following the transaction, the chief executive officer directly owned 288,976 shares of the company’s stock, valued at approximately $13,498,068.96. This trade represents a 4.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 30,108 shares of company stock valued at $1,302,370. Corporate insiders own 1.50% of the company’s stock.

Institutional Trading of Terns Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Terns Pharmaceuticals during the fourth quarter worth approximately $25,000. GAMMA Investing LLC boosted its position in Terns Pharmaceuticals by 762.4% during the fourth quarter. GAMMA Investing LLC now owns 871 shares of the company’s stock worth $35,000 after acquiring an additional 770 shares during the last quarter. iA Global Asset Management Inc. acquired a new stake in Terns Pharmaceuticals during the fourth quarter worth approximately $43,000. FNY Investment Advisers LLC acquired a new stake in Terns Pharmaceuticals during the fourth quarter worth approximately $80,000. Finally, EverSource Wealth Advisors LLC boosted its position in Terns Pharmaceuticals by 61.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,207 shares of the company’s stock worth $89,000 after acquiring an additional 841 shares during the last quarter. Institutional investors and hedge funds own 98.26% of the company’s stock.

About Terns Pharmaceuticals

Terns Pharmaceuticals, Inc is a clinical?stage biopharmaceutical company focused on developing oral small?molecule therapies for the treatment of chronic liver diseases and other serious conditions. The company’s research and development efforts center on novel mechanisms of action designed to address the underlying causes of progressive liver disorders, including inflammation, fibrosis and metabolic dysregulation. By advancing targeted compounds that can be administered orally, Terns aims to offer patients more convenient and effective treatment options compared to injectable or biologic therapies.

The company’s pipeline features several candidates in various stages of preclinical and clinical evaluation.