Terns Pharmaceuticals (NASDAQ:TERN) Releases Earnings Results, Beats Expectations By $0.06 EPS

Terns Pharmaceuticals (NASDAQ:TERN) posted its quarterly earnings data on Thursday. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.06, Zacks reports.

Terns Pharmaceuticals Stock Performance

NASDAQ:TERN opened at $3.14 on Friday. The stock has a market capitalization of $266.71 million, a PE ratio of -2.66 and a beta of -0.30. Terns Pharmaceuticals has a fifty-two week low of $3.08 and a fifty-two week high of $11.40. The company has a fifty day moving average of $4.07 and a two-hundred day moving average of $6.10.

Analysts Set New Price Targets

Several research firms have recently weighed in on TERN. William Blair assumed coverage on Terns Pharmaceuticals in a research report on Friday, February 28th. They set a “market perform” rating for the company. JMP Securities reiterated a “market outperform” rating and set a $20.00 price objective on shares of Terns Pharmaceuticals in a report on Wednesday, December 4th. HC Wainwright restated a “neutral” rating and issued a $7.50 target price on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. Finally, Oppenheimer lifted their price target on shares of Terns Pharmaceuticals from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.30.

Insider Activity

In other news, insider Emil Kuriakose sold 4,481 shares of Terns Pharmaceuticals stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $5.71, for a total value of $25,586.51. Following the sale, the insider now directly owns 54,269 shares of the company’s stock, valued at $309,875.99. The trade was a 7.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jill M. Quigley sold 6,240 shares of Terns Pharmaceuticals stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $5.72, for a total transaction of $35,692.80. Following the sale, the director now directly owns 8,760 shares in the company, valued at approximately $50,107.20. This trade represents a 41.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,669 shares of company stock worth $211,040 over the last 90 days. 15.10% of the stock is currently owned by company 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.