Oppenheimer Initiates Coverage on Terns Pharmaceuticals (NASDAQ:TERN)

Equities research analysts at Oppenheimer began coverage on shares of Terns Pharmaceuticals (NASDAQ:TERN) in a research report issued on Thursday, Briefing.com reports. The firm set an “outperform” rating and a $82.00 price target on the stock.

Other research analysts also recently issued research reports about the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $26.00 price target (up previously from $19.00) on shares of Terns Pharmaceuticals in a report on Monday, September 16th. JMP Securities increased their price target on shares of Terns Pharmaceuticals from $15.00 to $20.00 and gave the company a “market outperform” rating in a report on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $26.92.

Terns Pharmaceuticals Price Performance

NASDAQ:TERN opened at $6.89 on Thursday. Terns Pharmaceuticals has a one year low of $3.26 and a one year high of $11.40. The firm has a market capitalization of $484.62 million, a price-to-earnings ratio of -5.22 and a beta of -0.36. The business has a fifty day moving average price of $8.21 and a 200-day moving average price of $7.30.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its quarterly earnings results on Monday, August 5th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.04. On average, equities research analysts expect that Terns Pharmaceuticals will post -1.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Terns Pharmaceuticals news, CFO Mark J. Vignola sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $11.00, for a total value of $110,000.00. Following the completion of the sale, the chief financial officer now owns 91,940 shares of the company’s stock, valued at $1,011,340. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Terns Pharmaceuticals news, CFO Mark J. Vignola sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $11.00, for a total value of $110,000.00. Following the completion of the sale, the chief financial officer now owns 91,940 shares of the company’s stock, valued at $1,011,340. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jill M. Quigley sold 17,235 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $10.00, for a total transaction of $172,350.00. Following the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $150,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Terns Pharmaceuticals

Several institutional investors have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. increased its holdings in Terns Pharmaceuticals by 78.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 13,535 shares of the company’s stock valued at $113,000 after buying an additional 5,935 shares during the period. E. Ohman J or Asset Management AB purchased a new position in Terns Pharmaceuticals during the third quarter valued at approximately $515,000. Bleakley Financial Group LLC increased its holdings in Terns Pharmaceuticals by 26.0% during the third quarter. Bleakley Financial Group LLC now owns 13,312 shares of the company’s stock valued at $111,000 after buying an additional 2,751 shares during the period. nVerses Capital LLC purchased a new position in Terns Pharmaceuticals during the third quarter valued at approximately $48,000. Finally, Creative Planning increased its holdings in Terns Pharmaceuticals by 27.2% during the third quarter. Creative Planning now owns 25,310 shares of the company’s stock valued at $211,000 after buying an additional 5,409 shares during the period. 98.26% of the stock is owned by hedge funds and other institutional investors.

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.