Terns Pharmaceuticals (NASDAQ:TERN) Trading Up 10.4% – Should You Buy?

Terns Pharmaceuticals, Inc. (NASDAQ:TERN)’s stock price rose 10.4% on Wednesday . The stock traded as high as $37.14 and last traded at $38.03. Approximately 1,161,396 shares were traded during trading, a decline of 50% from the average daily volume of 2,321,958 shares. The stock had previously closed at $34.45.

Analysts Set New Price Targets

TERN has been the subject of several analyst reports. Truist Financial upped their target price on Terns Pharmaceuticals from $35.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, December 9th. BMO Capital Markets upped their price target on Terns Pharmaceuticals from $35.00 to $54.00 and gave the stock an “outperform” rating in a report on Tuesday, December 9th. William Blair upgraded shares of Terns Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research note on Monday, November 3rd. UBS Group raised shares of Terns Pharmaceuticals to a “strong-buy” rating in a report on Thursday, December 4th. Finally, Mizuho boosted their price objective on shares of Terns Pharmaceuticals from $33.00 to $54.00 and gave the stock an “outperform” rating in a report on Tuesday, December 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $55.56.

Terns Pharmaceuticals Stock Performance

The firm has a market cap of $3.40 billion, a price-to-earnings ratio of -36.56 and a beta of -0.28. The business’s 50 day moving average price is $33.39 and its 200-day moving average price is $16.29.

Terns Pharmaceuticals (NASDAQ:TERN) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.03. On average, analysts forecast that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Terns Pharmaceuticals news, insider Emil Kuriakose sold 1,155 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $38.57, for a total transaction of $44,548.35. Following the completion of the sale, the insider owned 50,365 shares in the company, valued at $1,942,578.05. The trade was a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jill M. Quigley sold 24,520 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $18.00, for a total transaction of $441,360.00. The SEC filing for this sale provides additional information. Insiders sold a total of 97,014 shares of company stock valued at $3,203,924 over the last 90 days. 1.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Terns Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings in shares of Terns Pharmaceuticals by 762.4% in the 4th quarter. GAMMA Investing LLC now owns 871 shares of the company’s stock worth $35,000 after purchasing an additional 770 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Terns Pharmaceuticals by 8.3% in the second quarter. The Manufacturers Life Insurance Company now owns 27,262 shares of the company’s stock worth $102,000 after buying an additional 2,097 shares during the period. Velan Capital Investment Management LP boosted its holdings in shares of Terns Pharmaceuticals by 17.6% during the second quarter. Velan Capital Investment Management LP now owns 20,000 shares of the company’s stock valued at $75,000 after acquiring an additional 3,000 shares during the period. Intech Investment Management LLC grew its position in shares of Terns Pharmaceuticals by 15.5% during the second quarter. Intech Investment Management LLC now owns 46,121 shares of the company’s stock worth $172,000 after acquiring an additional 6,199 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of Terns Pharmaceuticals by 29.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 32,172 shares of the company’s stock worth $242,000 after acquiring an additional 7,352 shares during the period. 98.26% of the stock is owned by institutional investors.

Terns Pharmaceuticals Company Profile

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.