Terns Pharmaceuticals (NASDAQ:TERN) Price Target Raised to $7.50 at HC Wainwright

Terns Pharmaceuticals (NASDAQ:TERN) had its target price increased by HC Wainwright from $5.50 to $7.50 in a research note published on Wednesday,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other analysts have also weighed in on TERN. Oppenheimer began coverage on shares of Terns Pharmaceuticals in a research note on Thursday, October 31st. They set an “outperform” rating and a $82.00 target price for the company. BMO Capital Markets reaffirmed an “outperform” rating and set a $26.00 price objective (up previously from $19.00) on shares of Terns Pharmaceuticals in a research report on Monday, September 16th. Finally, JMP Securities increased their price objective on shares of Terns Pharmaceuticals from $15.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Tuesday, September 10th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Terns Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.25.

Terns Pharmaceuticals Trading Down 5.4 %

Shares of NASDAQ TERN opened at $6.78 on Wednesday. The company has a market capitalization of $476.91 million, a price-to-earnings ratio of -5.82 and a beta of -0.32. Terns Pharmaceuticals has a twelve month low of $3.46 and a twelve month high of $11.40. The business has a 50 day simple moving average of $8.09 and a 200-day simple moving average of $7.47.

Insider Activity at Terns Pharmaceuticals

In other Terns Pharmaceuticals news, CFO Mark J. Vignola sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $11.00, for a total transaction of $110,000.00. Following the completion of the transaction, the chief financial officer now directly owns 91,940 shares of the company’s stock, valued at $1,011,340. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Hongbo Lu purchased 476,190 shares of Terns Pharmaceuticals stock in a transaction dated Thursday, September 12th. The stock was bought at an average cost of $10.50 per share, with a total value of $4,999,995.00. Following the purchase, the director now owns 476,190 shares in the company, valued at approximately $4,999,995. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark J. Vignola sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $11.00, for a total transaction of $110,000.00. Following the transaction, the chief financial officer now owns 91,940 shares in the company, valued at $1,011,340. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 15.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Terns Pharmaceuticals

Several large investors have recently made changes to their positions in TERN. nVerses Capital LLC acquired a new stake in shares of Terns Pharmaceuticals during the third quarter worth $48,000. Simplicity Wealth LLC purchased a new position in Terns Pharmaceuticals in the 2nd quarter worth about $72,000. Entropy Technologies LP purchased a new stake in Terns Pharmaceuticals during the third quarter valued at about $106,000. Bleakley Financial Group LLC boosted its stake in Terns Pharmaceuticals by 26.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 13,312 shares of the company’s stock worth $111,000 after purchasing an additional 2,751 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its stake in Terns Pharmaceuticals by 78.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,535 shares of the company’s stock valued at $113,000 after purchasing an additional 5,935 shares during the period. Institutional investors own 98.26% of the company’s stock.

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.