Terns Pharmaceuticals’ (TERN) “Equal Weight” Rating Reiterated at Barclays

Barclays reissued their equal weight rating on shares of Terns Pharmaceuticals (NASDAQ:TERN) in a report issued on Monday morning,Benzinga reports. Barclays currently has a $53.00 price target on the stock, down from their prior price target of $56.00.

A number of other brokerages have also recently weighed in on TERN. UBS Group upgraded Terns Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, December 4th. TD Cowen lowered shares of Terns Pharmaceuticals from a “buy” rating to a “hold” rating and set a $53.00 price objective on the stock. in a research report on Thursday, March 26th. Jefferies Financial Group reissued a “buy” rating and issued a $70.00 price objective on shares of Terns Pharmaceuticals in a research note on Wednesday, December 10th. Truist Financial raised their target price on shares of Terns Pharmaceuticals from $35.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, December 9th. Finally, BMO Capital Markets lifted 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. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $56.30.

Terns Pharmaceuticals Price Performance

TERN opened at $52.79 on Monday. The stock has a market cap of $6.09 billion, a P/E ratio of -51.25 and a beta of -0.37. The stock’s 50 day simple moving average is $42.25 and its 200 day simple moving average is $30.16. Terns Pharmaceuticals has a 1-year low of $1.87 and a 1-year high of $53.19.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its quarterly earnings data on Thursday, April 2nd. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.06. Research analysts expect 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 business’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $38.57, for a total value of $44,548.35. Following the completion of the transaction, the insider owned 50,365 shares of the company’s stock, valued at approximately $1,942,578.05. The trade was a 2.24% decrease in their position. 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 dated Monday, January 5th. The shares were sold at an average price of $38.10, for a total transaction of $2,718,015.90. Following the completion of the transaction, the chief executive officer directly owned 138,976 shares of the company’s stock, valued at $5,294,985.60. The trade was a 33.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 170,409 shares of company stock valued at $6,563,769. Insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Terns Pharmaceuticals

Hedge funds have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Terns Pharmaceuticals in the fourth quarter valued at approximately $25,000. GAMMA Investing LLC boosted its position in Terns Pharmaceuticals by 762.4% during the fourth quarter. GAMMA Investing LLC now owns 871 shares of the company’s stock worth $35,000 after acquiring an additional 770 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in Terns Pharmaceuticals in the 2nd quarter worth approximately $41,000. iA Global Asset Management Inc. acquired a new position in Terns Pharmaceuticals in the 4th quarter valued at $43,000. Finally, Canada Pension Plan Investment Board acquired a new position in Terns Pharmaceuticals in the 2nd quarter valued at $46,000. 98.26% of the stock is owned by institutional investors and hedge funds.

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.