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

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) – Stock analysts at HC Wainwright lifted their FY2024 EPS estimates for Terns Pharmaceuticals in a research note issued to investors on Wednesday, November 13th. HC Wainwright analyst E. Arce now forecasts that the company will earn ($1.17) per share for the year, up from their previous forecast of ($1.36). HC Wainwright has a “Neutral” rating and a $7.50 price target 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.

Several other analysts have also recently issued reports on the stock. Oppenheimer assumed coverage on shares of Terns Pharmaceuticals in a report on Thursday, October 31st. They issued an “outperform” rating and a $82.00 price target on the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $26.00 price target (up from $19.00) on shares of Terns Pharmaceuticals in a report on Monday, September 16th. Finally, JMP Securities upped 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 issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.25.

Terns Pharmaceuticals Stock Down 3.4 %

TERN opened at $6.55 on Friday. The firm’s fifty day moving average price is $8.08 and its 200 day moving average price is $7.46. Terns Pharmaceuticals has a 12-month low of $3.51 and a 12-month high of $11.40.

Hedge Funds Weigh In On Terns Pharmaceuticals

Several institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its position 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 worth $1,290,000 after acquiring an additional 1,994 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position 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 worth $136,000 after acquiring an additional 2,261 shares during the last quarter. Bleakley Financial Group LLC grew its position 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 worth $111,000 after acquiring an additional 2,751 shares during the last quarter. The Manufacturers Life Insurance Company grew its position 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 worth $154,000 after acquiring an additional 5,049 shares during the last quarter. Finally, Creative Planning grew its position in shares of Terns Pharmaceuticals by 27.2% during the third quarter. Creative Planning now owns 25,310 shares of the company’s stock worth $211,000 after acquiring an additional 5,409 shares during the last quarter. Institutional investors own 98.26% of the company’s stock.

Insiders Place Their Bets

In other Terns Pharmaceuticals news, Director Jill M. Quigley sold 17,235 shares of the stock in a transaction 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 sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $150,000. This represents a 53.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Hongbo Lu bought 476,190 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were acquired at an average cost of $10.50 per share, for a total transaction of $4,999,995.00. Following the completion of the acquisition, the director now directly owns 476,190 shares of the company’s stock, valued at $4,999,995. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 15.10% of the stock is owned by corporate insiders.

About Terns Pharmaceuticals

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.