Terns Pharmaceuticals (NASDAQ:TERN) Downgraded to “Hold” Rating by William Blair

William Blair cut shares of Terns Pharmaceuticals (NASDAQ:TERN) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other analysts have also weighed in on the company. HC Wainwright reaffirmed a “neutral” rating and issued a $53.00 price objective (down from $60.00) on shares of Terns Pharmaceuticals in a research note on Wednesday, March 25th. BMO Capital Markets lowered Terns Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. TD Cowen lowered Terns Pharmaceuticals from a “buy” rating to a “hold” rating and set a $53.00 price objective on the stock. in a research note on Thursday, March 26th. Barclays reaffirmed an “equal weight” rating and issued a $53.00 price objective (down from $56.00) on shares of Terns Pharmaceuticals in a research note on Monday, March 30th. Finally, Wall Street Zen lowered Terns Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Terns Pharmaceuticals presently has an average rating of “Hold” and an average price target of $56.30.

Terns Pharmaceuticals Stock Performance

TERN opened at $52.66 on Tuesday. The firm has a market cap of $6.08 billion, a P/E ratio of -51.13 and a beta of -0.37. Terns Pharmaceuticals has a 52-week low of $1.94 and a 52-week high of $53.19. The business’s fifty day moving average is $44.04 and its 200-day moving average is $31.74.

Terns Pharmaceuticals (NASDAQ:TERN) last released its quarterly earnings data on Thursday, April 2nd. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.06. On average, research analysts predict that Terns Pharmaceuticals will post -1.19 earnings per share for the current fiscal year.

Insider Transactions at Terns Pharmaceuticals

In other news, CEO Amy L. Burroughs sold 14,583 shares of Terns Pharmaceuticals stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $46.71, for a total transaction of $681,171.93. Following the sale, 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. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Emil Kuriakose sold 942 shares of Terns Pharmaceuticals stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $52.75, for a total value of $49,690.50. Following the sale, the insider directly owned 105,673 shares in the company, valued at $5,574,250.75. The trade was a 0.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 98,857 shares of company stock worth $3,850,896 over the last three months. Insiders own 1.50% of the company’s stock.

Institutional Trading of Terns Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the company. Avoro Capital Advisors LLC acquired a new stake in shares of Terns Pharmaceuticals during the fourth quarter valued at about $175,740,000. Seven Fleet Capital Management LP acquired a new stake in shares of Terns Pharmaceuticals during the fourth quarter valued at about $1,491,000. Invesco Ltd. boosted its stake in shares of Terns Pharmaceuticals by 26.9% during the fourth quarter. Invesco Ltd. now owns 606,247 shares of the company’s stock valued at $24,492,000 after purchasing an additional 128,573 shares in the last quarter. Mackenzie Financial Corp bought a new position in shares of Terns Pharmaceuticals during the fourth quarter worth about $215,000. Finally, NewEdge Advisors LLC raised its position in shares of Terns Pharmaceuticals by 240.0% during the fourth quarter. NewEdge Advisors LLC now owns 9,173 shares of the company’s stock worth $371,000 after acquiring an additional 6,475 shares during the last quarter. 98.26% of the stock is owned by institutional investors and hedge funds.

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.