Terns Pharmaceuticals (NASDAQ:TERN) Sees Unusually-High Trading Volume – Still a Buy?

by · The Cerbat Gem

Terns Pharmaceuticals, Inc. (NASDAQ:TERN – Get Free Report) shares saw strong trading volume on Tuesday . 4,934,194 shares traded hands during mid-day trading, an increase of 191% from the previous session’s volume of 1,696,797 shares.The stock last traded at $43.3140 and had previously closed at $40.23.

Analysts Set New Price Targets

TERN has been the topic of a number of recent analyst reports. JMP Securities set a $35.00 price target on shares of Terns Pharmaceuticals in a research note on Wednesday, November 26th. Citizens Jmp lifted their price objective on Terns Pharmaceuticals from $25.00 to $35.00 and gave the company a “market outperform” rating in a report on Wednesday, November 26th. Oppenheimer boosted their target price on Terns Pharmaceuticals from $28.00 to $58.00 and gave the stock an “outperform” rating in a research report on Tuesday. Weiss Ratings reissued a “sell (e+)” rating on shares of Terns Pharmaceuticals in a report on Monday, December 1st. Finally, Jefferies Financial Group lifted their price target on Terns Pharmaceuticals from $28.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.22.

Read Our Latest Research Report on Terns Pharmaceuticals

Terns Pharmaceuticals Trading Up 6.2%

The company’s 50 day simple moving average is $16.78 and its 200 day simple moving average is $9.50. The stock has a market capitalization of $3.85 billion, a PE ratio of -41.37 and a beta of -0.26.

Terns Pharmaceuticals (NASDAQ:TERN – Get Free Report) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.03. As a group, analysts predict that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current year.

Insider Buying and Selling at Terns Pharmaceuticals

In other Terns Pharmaceuticals news, Director Jill M. Quigley sold 24,520 shares of the business’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $18.00, for a total transaction of $441,360.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Terns Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Polymer Capital Management US LLC acquired a new stake in shares of Terns Pharmaceuticals in the 3rd quarter worth about $76,000. Engineers Gate Manager LP bought a new position in Terns Pharmaceuticals in the 2nd quarter worth about $41,000. Fox Run Management L.L.C. acquired a new stake in shares of Terns Pharmaceuticals in the third quarter valued at approximately $87,000. Canada Pension Plan Investment Board bought a new stake in shares of Terns Pharmaceuticals during the second quarter valued at approximately $46,000. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of Terns Pharmaceuticals during the third quarter worth approximately $94,000. 98.26% of the stock is owned by hedge funds and other institutional investors.

Terns Pharmaceuticals Company Profile

(Get Free Report)

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.

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