Terns Pharmaceuticals (NASDAQ:TERN) Price Target Raised to $32.00 at Mizuho

Terns Pharmaceuticals (NASDAQ:TERN) had its target price hoisted by Mizuho from $9.00 to $32.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other brokerages have also weighed in on TERN. William Blair upgraded shares of Terns Pharmaceuticals from a “market perform” rating to an “outperform” rating in a report on Monday. JMP Securities reduced their price target on shares of Terns Pharmaceuticals from $20.00 to $15.00 and set a “market outperform” rating for the company in a research note on Thursday, October 23rd. Citigroup restated an “outperform” rating on shares of Terns Pharmaceuticals in a research report on Thursday, October 23rd. Oppenheimer reaffirmed an “outperform” rating and issued a $24.00 target price on shares of Terns Pharmaceuticals in a research report on Monday. Finally, HC Wainwright upgraded shares of Terns Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Tuesday. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Terns Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $25.38.

Terns Pharmaceuticals Stock Up 4.4%

Shares of NASDAQ TERN opened at $18.19 on Tuesday. Terns Pharmaceuticals has a twelve month low of $1.87 and a twelve month high of $18.75. The firm has a market cap of $1.59 billion, a P/E ratio of -17.49 and a beta of -0.02. The company has a 50 day moving average of $8.32 and a 200 day moving average of $5.80.

Terns Pharmaceuticals (NASDAQ:TERN) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.02. As a group, equities analysts expect that Terns Pharmaceuticals will post -1.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Jill M. Quigley sold 24,520 shares of the business’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $18.00, for a total value of $441,360.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Terns Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Vontobel Holding Ltd. bought a new position in shares of Terns Pharmaceuticals during the first quarter worth $39,000. Engineers Gate Manager LP bought a new position in shares of Terns Pharmaceuticals during the second quarter worth $41,000. Canada Pension Plan Investment Board bought a new position in shares of Terns Pharmaceuticals during the second quarter worth $46,000. LeConte Wealth Management LLC bought a new position in shares of Terns Pharmaceuticals during the second quarter worth $47,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Terns Pharmaceuticals during the first quarter worth $51,000. Hedge funds and other institutional investors own 98.26% of the company’s stock.

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.