Terns Pharmaceuticals (NASDAQ:TERN) Research Coverage Started at Leerink Partners

Leerink Partners started coverage on shares of Terns Pharmaceuticals (NASDAQ:TERN) in a report published on Monday, MarketBeat reports. The brokerage issued an outperform rating and a $58.00 target price on the stock.

TERN has been the subject of a number of other research reports. Jefferies Financial Group reissued a “buy” rating and issued a $70.00 price objective on shares of Terns Pharmaceuticals in a report on Wednesday, December 10th. UBS Group raised Terns Pharmaceuticals to a “strong-buy” rating in a report on Thursday, December 4th. BMO Capital Markets raised their target price on shares of Terns Pharmaceuticals from $35.00 to $54.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 9th. Citigroup reiterated an “outperform” rating on shares of Terns Pharmaceuticals in a research report on Wednesday, November 26th. Finally, William Blair raised Terns Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research note on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $55.80.

Terns Pharmaceuticals Trading Up 1.2%

NASDAQ:TERN opened at $38.64 on Monday. The company has a market cap of $3.48 billion, a price-to-earnings ratio of -37.51 and a beta of -0.28. Terns Pharmaceuticals has a twelve month low of $1.87 and a twelve month high of $48.26. The stock has a fifty day simple moving average of $38.35 and a 200-day simple moving average of $20.81.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.03. As a group, equities research analysts predict that Terns Pharmaceuticals will post -1.19 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Emil Kuriakose sold 1,155 shares of the 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 transaction, the insider owned 50,365 shares in the company, valued at approximately $1,942,578.05. This represents a 2.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Amy L. Burroughs sold 71,339 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $38.10, for a total value of $2,718,015.90. Following the completion of the sale, the chief executive officer owned 138,976 shares of the company’s stock, valued at $5,294,985.60. This trade represents a 33.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 141,243 shares of company stock valued at $5,311,090. Company insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Terns Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. Commodore Capital LP purchased a new stake in shares of Terns Pharmaceuticals in the third quarter worth $42,807,000. Vanguard Group Inc. boosted its stake in Terns Pharmaceuticals by 21.1% in the 4th quarter. Vanguard Group Inc. now owns 5,523,948 shares of the company’s stock worth $223,167,000 after purchasing an additional 964,031 shares during the period. Franklin Resources Inc. grew its position in shares of Terns Pharmaceuticals by 113.8% during the fourth quarter. Franklin Resources Inc. now owns 2,731,312 shares of the company’s stock valued at $110,345,000 after purchasing an additional 1,453,849 shares in the last quarter. Candriam S.C.A. grew its holdings in shares of Terns Pharmaceuticals by 9.9% in the second quarter. Candriam S.C.A. now owns 2,368,235 shares of the company’s stock valued at $8,834,000 after purchasing an additional 214,266 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Terns Pharmaceuticals by 22.3% in the fourth quarter. Geode Capital Management LLC now owns 2,096,642 shares of the company’s stock worth $84,723,000 after acquiring an additional 382,090 shares in the last quarter. 98.26% of the stock is currently owned by institutional investors.

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.