Fri Sep 20 08:44:55 UTC 2024: ## Terns Pharmaceuticals Director Makes Major Stock Purchase, Analysts Remain Bullish

**San Francisco, CA – September 20, 2024** – Terns Pharmaceuticals, Inc. (NASDAQ: TERN) saw a significant insider purchase this week as Director Hongbo Lu acquired 476,190 shares of the company’s stock on Thursday, September 12th, for a total value of $4,999,995. This move further strengthens the director’s holdings in Terns Pharmaceuticals to 476,190 shares.

The news follows a recent period of positive momentum for the clinical-stage biopharmaceutical company, which develops small-molecule product candidates for oncology, metabolic dysfunction-associated steatohepatitis (MASH), and obesity. Notably, Terns Pharmaceuticals exceeded analysts’ expectations in its most recent earnings report, reporting ($0.31) EPS for the quarter, exceeding the consensus estimate of ($0.35) by $0.04.

The market has responded favorably to this positive news, with several research firms reaffirming their bullish stance on the company. JMP Securities raised their target price on Terns Pharmaceuticals from $15.00 to $20.00, while BMO Capital Markets upgraded their price target from $19.00 to $26.00, both maintaining “outperform” ratings. Overall, analysts are optimistic about Terns Pharmaceuticals’ future, with four “buy” ratings and one “hold” rating, translating to an average “Moderate Buy” rating and a consensus target price of $15.90.

The director’s significant investment, coupled with the positive analyst sentiment, suggests confidence in the company’s ongoing clinical trials and future prospects. Investors will be closely watching the development of TERN-701, an allosteric BCR-ABL tyrosine kinase inhibitor (TKI) currently in phase 1 clinical trial for chronic myeloid leukemia (CML).

Read More