What is HC Wainwright’s Forecast for TERN FY2024 Earnings?

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) – Stock analysts at HC Wainwright raised their FY2024 EPS estimates for shares of Terns Pharmaceuticals in a report issued on Wednesday, November 13th. HC Wainwright analyst E. Arce now anticipates that the company will post earnings per share of ($1.17) for the year, up from their previous estimate of ($1.36). HC Wainwright has a “Neutral” rating and a $7.50 price objective on the stock. The consensus estimate for Terns Pharmaceuticals’ current full-year earnings is ($1.28) per share. HC Wainwright also issued estimates for Terns Pharmaceuticals’ Q4 2024 earnings at ($0.28) EPS, Q2 2025 earnings at ($0.33) EPS, Q3 2025 earnings at ($0.37) EPS, Q4 2025 earnings at ($0.40) EPS, FY2025 earnings at ($1.41) EPS, FY2026 earnings at ($1.46) EPS, FY2027 earnings at ($1.58) EPS and FY2028 earnings at ($0.64) EPS.

A number of other equities research analysts also recently commented on the stock. BMO Capital Markets reiterated an “outperform” rating and set a $26.00 price target (up from $19.00) on shares of Terns Pharmaceuticals in a report on Monday, September 16th. Oppenheimer initiated coverage on shares of Terns Pharmaceuticals in a report on Thursday, October 31st. They set an “outperform” rating and a $82.00 price target for the company. Finally, JMP Securities lifted their price target on shares of Terns Pharmaceuticals from $15.00 to $20.00 and gave the stock a “market outperform” rating in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $27.25.

Terns Pharmaceuticals Trading Down 3.4 %

Shares of NASDAQ TERN opened at $6.55 on Friday. Terns Pharmaceuticals has a 12 month low of $3.51 and a 12 month high of $11.40. The company has a 50-day simple moving average of $8.08 and a 200-day simple moving average of $7.46.

Institutional Trading of Terns Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in shares of Terns Pharmaceuticals by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 154,714 shares of the company’s stock valued at $1,290,000 after purchasing an additional 1,994 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Terns Pharmaceuticals by 12.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,694 shares of the company’s stock valued at $136,000 after purchasing an additional 2,261 shares during the period. Bleakley Financial Group LLC raised its stake in shares of 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 purchasing an additional 2,751 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Terns Pharmaceuticals by 28.7% during the second quarter. The Manufacturers Life Insurance Company now owns 22,645 shares of the company’s stock valued at $154,000 after purchasing an additional 5,049 shares during the period. Finally, Creative Planning raised its stake in shares of 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 purchasing an additional 5,409 shares during the period. Hedge funds and other institutional investors own 98.26% of the company’s stock.

Insider Buying and Selling at Terns Pharmaceuticals

In other Terns Pharmaceuticals news, Director Hongbo Lu purchased 476,190 shares of Terns Pharmaceuticals stock in a transaction on Thursday, September 12th. The shares were purchased at an average cost of $10.50 per share, with a total value of $4,999,995.00. Following the completion of the transaction, the director now directly owns 476,190 shares in the company, valued at approximately $4,999,995. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jill M. Quigley sold 17,235 shares of Terns Pharmaceuticals stock in a transaction that occurred on Monday, September 9th. The shares were 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 53.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.10% of the stock is currently owned by corporate insiders.

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.