Terns Pharmaceuticals (NASDAQ:TERN) Downgraded by Leerink Partners to Hold

Terns Pharmaceuticals (NASDAQ:TERN) was downgraded by Leerink Partners from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Other research analysts also recently issued reports about the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Terns Pharmaceuticals in a research report on Friday, March 27th. TD Cowen lowered Terns Pharmaceuticals from a “buy” rating to a “hold” rating and set a $53.00 price target on the stock. in a research note on Thursday, March 26th. BMO Capital Markets cut Terns Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Citizens Jmp lowered Terns Pharmaceuticals from a “market outperform” rating to a “hold” rating in a research note on Thursday, March 26th. Finally, Mizuho cut Terns Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $56.30.

Terns Pharmaceuticals Stock Up 0.1%

Shares of Terns Pharmaceuticals stock opened at $52.66 on Wednesday. Terns Pharmaceuticals has a 12-month low of $1.94 and a 12-month high of $53.19. The company has a market capitalization of $6.08 billion, a price-to-earnings ratio of -51.13 and a beta of -0.37. The firm’s 50-day moving average price is $44.04 and its two-hundred day moving average price is $31.74.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its earnings results on Thursday, April 2nd. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.06. On average, sell-side analysts expect that Terns Pharmaceuticals will post -1.19 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Emil Kuriakose sold 942 shares of the business’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $52.75, for a total transaction of $49,690.50. Following the sale, the insider owned 105,673 shares in the company, valued at $5,574,250.75. The trade was a 0.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Amy L. Burroughs sold 14,583 shares of the company’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $46.71, for a total value of $681,171.93. Following the completion of the transaction, the chief executive officer directly owned 288,976 shares of the company’s stock, valued at approximately $13,498,068.96. The trade was a 4.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 98,857 shares of company stock worth $3,850,896 in the last 90 days. 1.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Terns Pharmaceuticals during the 4th quarter worth approximately $25,000. GAMMA Investing LLC increased its position in Terns Pharmaceuticals by 762.4% in the 4th quarter. GAMMA Investing LLC now owns 871 shares of the company’s stock valued at $35,000 after acquiring an additional 770 shares during the period. iA Global Asset Management Inc. bought a new position in shares of Terns Pharmaceuticals during the fourth quarter valued at $43,000. FNY Investment Advisers LLC bought a new position in shares of Terns Pharmaceuticals during the fourth quarter valued at $80,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Terns Pharmaceuticals by 61.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,207 shares of the company’s stock worth $89,000 after purchasing an additional 841 shares during the period. Institutional investors own 98.26% of the company’s stock.

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.