Terns Pharmaceuticals (NASDAQ:TERN) Releases Earnings Results, Beats Expectations By $0.04 EPS

Terns Pharmaceuticals (NASDAQ:TERN) issued its earnings results on Monday. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.04, Zacks reports.

Terns Pharmaceuticals Stock Performance

TERN stock traded down $0.38 during trading on Wednesday, hitting $6.74. The stock had a trading volume of 141,430 shares, compared to its average volume of 997,081. Terns Pharmaceuticals has a 1-year low of $3.26 and a 1-year high of $10.03. The stock has a market cap of $435.94 million, a price-to-earnings ratio of -5.65 and a beta of -0.37. The company’s 50 day moving average price is $7.62 and its two-hundred day moving average price is $6.67.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TERN shares. BMO Capital Markets reiterated an “outperform” rating and set a $19.00 price target on shares of Terns Pharmaceuticals in a research report on Tuesday. JMP Securities restated a “market outperform” rating and set a $15.00 price target on shares of Terns Pharmaceuticals in a research report on Tuesday, April 30th. Finally, HC Wainwright reiterated a “neutral” rating and issued a $5.50 price objective on shares of Terns Pharmaceuticals in a report on Tuesday, May 14th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $14.50.

Insider Activity at Terns Pharmaceuticals

In other news, Director Jill M. Quigley sold 6,143 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $7.68, for a total transaction of $47,178.24. Following the sale, the director now owns 23,857 shares in the company, valued at $183,221.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Terns Pharmaceuticals news, Director Carl L. Gordon sold 50,976 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $10.00, for a total value of $509,760.00. Following the transaction, the director now directly owns 756,258 shares of the company’s stock, valued at $7,562,580. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jill M. Quigley sold 6,143 shares of Terns Pharmaceuticals stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $7.68, for a total transaction of $47,178.24. Following the sale, the director now directly owns 23,857 shares in the company, valued at approximately $183,221.76. The disclosure for this sale can be found here. Insiders own 15.10% of the company’s stock.

About Terns Pharmaceuticals

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.