Research Analysts Issue Forecasts for TERN FY2024 Earnings

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) – Investment analysts at HC Wainwright raised their FY2024 earnings per share estimates for shares of Terns Pharmaceuticals in a research note issued on Wednesday, November 13th. HC Wainwright analyst E. Arce now expects that the company will earn ($1.17) per share for the year, up from their prior estimate of ($1.36). HC Wainwright currently has a “Neutral” rating and a $7.50 target price on the stock. The consensus estimate for Terns Pharmaceuticals’ current full-year earnings is ($1.28) per share. HC Wainwright also issued estimates for Terns Pharmaceuticals’ Q4 2024 earnings at ($0.28) 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.

TERN has been the subject of a number of other reports. BMO Capital Markets reiterated an “outperform” rating and set a $26.00 target price (up from $19.00) on shares of Terns Pharmaceuticals in a research report on Monday, September 16th. Oppenheimer initiated coverage on Terns Pharmaceuticals in a research report on Thursday, October 31st. They set an “outperform” rating and a $82.00 target price for the company. Finally, JMP Securities boosted their price target on Terns Pharmaceuticals from $15.00 to $20.00 and gave the stock 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’s stock. Based on data from MarketBeat.com, Terns Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $27.25.

Terns Pharmaceuticals Stock Performance

NASDAQ:TERN opened at $6.17 on Friday. The stock has a fifty day moving average price of $8.06 and a 200-day moving average price of $7.46. The company has a market cap of $524.07 million, a price-to-earnings ratio of -5.02 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.

Hedge Funds Weigh In On Terns Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC increased its holdings in Terns Pharmaceuticals by 40.6% in the 1st quarter. Janus Henderson Group PLC now owns 2,003,263 shares of the company’s stock worth $13,131,000 after purchasing an additional 578,500 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Terns Pharmaceuticals by 56.8% in the second quarter. Bank of New York Mellon Corp now owns 176,673 shares of the company’s stock valued at $1,203,000 after buying an additional 64,018 shares during the period. Russell Investments Group Ltd. raised its position in shares of Terns Pharmaceuticals by 127.9% during the first quarter. Russell Investments Group Ltd. now owns 632,965 shares of the company’s stock worth $4,152,000 after acquiring an additional 355,224 shares during the last quarter. Point72 Asset Management L.P. raised its position in shares of Terns Pharmaceuticals by 21.1% during the second quarter. Point72 Asset Management L.P. now owns 2,690,376 shares of the company’s stock worth $18,321,000 after acquiring an additional 469,176 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Terns Pharmaceuticals by 0.5% during the first quarter. Vanguard Group Inc. now owns 2,199,006 shares of the company’s stock worth $14,425,000 after acquiring an additional 11,535 shares during the last quarter. Institutional investors and hedge funds own 98.26% of the company’s stock.

Insider Transactions at Terns Pharmaceuticals

In other Terns Pharmaceuticals news, CFO Mark J. Vignola sold 10,000 shares of the company’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 completion of the transaction, the chief financial officer now owns 91,940 shares of the company’s stock, valued at $1,011,340. This represents a 9.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Hongbo Lu bought 476,190 shares of the stock in a transaction on Thursday, September 12th. The stock was purchased at an average cost of $10.50 per share, with a total value of $4,999,995.00. Following 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 disclosure for this purchase can be found here. 15.10% of the stock is owned by insiders.

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.