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

Terns Pharmaceuticals (NASDAQ:TERN) issued its quarterly earnings results on Thursday. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.06, Zacks reports.

Terns Pharmaceuticals Price Performance

Shares of NASDAQ:TERN traded down $0.02 during trading hours on Thursday, hitting $3.14. The company’s stock had a trading volume of 671,036 shares, compared to its average volume of 1,390,515. The firm’s fifty day moving average price is $4.11 and its 200 day moving average price is $6.12. Terns Pharmaceuticals has a 52 week low of $3.08 and a 52 week high of $11.40. The company has a market capitalization of $266.71 million, a price-to-earnings ratio of -2.66 and a beta of -0.30.

Insider Activity

In other Terns Pharmaceuticals news, CFO Mark J. Vignola sold 9,059 shares of Terns Pharmaceuticals stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $5.80, for a total value of $52,542.20. Following the transaction, the chief financial officer now owns 74,752 shares in the company, valued at $433,561.60. The trade was a 10.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Emil Kuriakose sold 4,481 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $5.71, for a total transaction of $25,586.51. Following the completion of the sale, the insider now owns 54,269 shares in the company, valued at $309,875.99. This represents a 7.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,669 shares of company stock worth $211,040. Corporate insiders own 15.10% of the company’s stock.

Wall Street Analyst Weigh In

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

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.