Terns Pharmaceuticals (TERN) Projected to Post Quarterly Earnings on Thursday

Terns Pharmaceuticals (NASDAQ:TERN) is anticipated to announce its earnings results before the market opens on Thursday, March 13th. Analysts expect the company to announce earnings of ($0.30) per share for the quarter.

Terns Pharmaceuticals Trading Up 3.6 %

Shares of TERN stock opened at $3.48 on Wednesday. The business’s 50-day moving average price is $4.38 and its 200-day moving average price is $6.30. Terns Pharmaceuticals has a 12 month low of $3.24 and a 12 month high of $11.40. The firm has a market capitalization of $295.59 million, a price-to-earnings ratio of -2.95 and a beta of -0.30.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TERN. Oppenheimer raised their price objective on Terns Pharmaceuticals from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. JMP Securities restated a “market outperform” rating and set a $20.00 price objective on shares of Terns Pharmaceuticals in a research report on Wednesday, December 4th. William Blair began coverage on Terns Pharmaceuticals in a research report on Friday, February 28th. They set a “market perform” rating for the company. Finally, HC Wainwright restated a “neutral” rating and set a $7.50 price objective on shares of Terns Pharmaceuticals in a research report 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 company’s stock. According to MarketBeat, Terns Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $18.30.

Insiders Place Their Bets

In other Terns Pharmaceuticals news, Director Jill M. Quigley sold 6,240 shares of Terns Pharmaceuticals stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $5.72, for a total value of $35,692.80. Following the completion of the sale, the director now directly owns 8,760 shares in the company, valued at approximately $50,107.20. The trade was a 41.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the sale, the insider now owns 54,269 shares of the company’s stock, valued at approximately $309,875.99. The trade was a 7.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,669 shares of company stock worth $211,040. 15.10% of the stock is owned by corporate 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.