Terns Pharmaceuticals (NASDAQ:TERN) Announces Earnings Results

Terns Pharmaceuticals (NASDAQ:TERN) issued its earnings results on Thursday. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.06, Zacks reports.

Terns Pharmaceuticals Price Performance

Shares of NASDAQ:TERN opened at $3.35 on Friday. The stock has a market cap of $284.55 million, a price-to-earnings ratio of -2.84 and a beta of -0.30. Terns Pharmaceuticals has a 12 month low of $3.08 and a 12 month high of $11.40. The stock’s 50 day moving average price is $4.04 and its 200 day moving average price is $6.07.

Insider Buying and Selling at Terns Pharmaceuticals

In other Terns Pharmaceuticals news, insider Emil Kuriakose sold 4,481 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $5.71, for a total value of $25,586.51. Following the transaction, the insider now owns 54,269 shares of the company’s stock, valued at approximately $309,875.99. This represents a 7.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark J. Vignola sold 9,059 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $5.80, for a total value of $52,542.20. Following the completion of the transaction, the chief financial officer now directly owns 74,752 shares in the company, valued at $433,561.60. This represents a 10.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,669 shares of company stock valued at $211,040. Corporate insiders own 15.10% of the company’s stock.

Wall Street Analysts Forecast Growth

TERN has been the topic of a number of recent research reports. Oppenheimer raised their target price on shares of Terns Pharmaceuticals from $17.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. JMP Securities reissued a “market outperform” rating and issued a $20.00 target price on shares of Terns Pharmaceuticals in a report on Wednesday, December 4th. HC Wainwright reaffirmed a “neutral” rating and set a $7.50 price target on shares of Terns Pharmaceuticals in a report on Wednesday, December 4th. Finally, William Blair reiterated a “market perform” rating on shares of Terns Pharmaceuticals in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.30.

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.