Terns Pharmaceuticals (NASDAQ:TERN) Issues Quarterly Earnings Results

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

Terns Pharmaceuticals Trading Up 6.7 %

Shares of NASDAQ:TERN opened at $3.35 on Friday. The stock has a market capitalization of $284.55 million, a PE ratio of -2.84 and a beta of -0.30. Terns Pharmaceuticals has a 1 year low of $3.08 and a 1 year high of $11.40. The firm has a fifty day moving average price of $4.04 and a 200 day moving average price of $6.07.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on TERN shares. JMP Securities restated a “market outperform” rating and set a $20.00 price target on shares of Terns Pharmaceuticals in a report on Wednesday, December 4th. William Blair restated a “market perform” rating on shares of Terns Pharmaceuticals in a report on Friday. HC Wainwright restated a “neutral” rating and set a $7.50 price target on shares of Terns Pharmaceuticals in a report on Wednesday, December 4th. Finally, Oppenheimer boosted their price target on shares of Terns Pharmaceuticals from $17.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.