Terns Pharmaceuticals Secures Average Target Price of $16.24 from Analysts

Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) have received an average target price of $16.24 from a group of eight brokerages, according to Marketbeat.com. The consensus rating among these analysts is “Moderate Buy,” reflecting a positive outlook for the biopharmaceutical company. The analysis indicates that one analyst has issued a sell recommendation, while two have assigned a hold, and five have given a buy rating.

Several research firms have recently provided insights into Terns Pharmaceuticals. On September 4, 2023, HC Wainwright initiated coverage with a “neutral” rating and a price target of $7.44. In a contrasting view, Truist Financial began coverage on October 14, 2023, with a “buy” rating and a price objective of $20.00. Meanwhile, Weiss Ratings reaffirmed a “sell (d-)” rating on October 8, 2023, while Barclays issued an “overweight” rating with a target of $15.00 on September 17, 2023.

Terns Pharmaceuticals experienced a decline of 2.3% in its stock price following its most recent earnings report. On August 5, 2023, the company announced earnings of ($0.26) per share (EPS), which surpassed analysts’ expectations of ($0.28) by $0.02. Analysts currently forecast an EPS of ($1.19) for the current fiscal year.

Institutional Investments in Terns Pharmaceuticals

Recent trading activity shows significant shifts in institutional holdings of Terns Pharmaceuticals. Engineers Gate Manager LP acquired a new stake in the company valued at approximately $41,000 during the second quarter. Similarly, BNP Paribas Financial Markets increased its stake by 11.6%, owning a total of 506,777 shares worth $1,890,000 after adding 52,796 shares to its portfolio.

Other notable investments include Bridgeway Capital Management LLC, which purchased a stake worth around $354,000, and Adage Capital Partners GP L.L.C., which acquired shares valued at approximately $4,774,000. Furthermore, Acuta Capital Partners LLC increased its holdings by 42.5%, now owning 463,864 shares worth $1,730,000. Overall, approximately 98.26% of Terns Pharmaceuticals’ stock is held by hedge funds and institutional investors.

Company Overview and Development Pipeline

Terns Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company focused on developing small-molecule product candidates aimed at treating oncology, metabolic dysfunction-associated steatohepatitis (MASH), and obesity. One of the company’s key products is TERN-701, an allosteric BCR-ABL tyrosine kinase inhibitor currently in phase 1 clinical trials for chronic myeloid leukemia (CML), a cancer that originates in the bone marrow.

With a diverse portfolio and varying analyst opinions, Terns Pharmaceuticals is positioning itself within the competitive biopharmaceutical landscape. As the company advances its clinical programs and attracts institutional interest, stakeholders will be closely monitoring its performance in the coming quarters.