Terns Pharmaceuticals Inc. [TERN] stock Resumed by Goldman analyst, price target now $21

Terns Pharmaceuticals Inc. [NASDAQ: TERN] stock went on an upward path that rose over 45.70% on Monday, amounting to a one-week price increase of more than 109.52%. The company report on August 12, 2022 that Terns Announces $65 Million Oversubscribed Offering.


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Terns Pharmaceuticals, Inc. (“Terns” or the “Company”) (Nasdaq: TERN), a clinical-stage biopharmaceutical company developing a portfolio of small-molecule product candidates to address serious diseases, including oncology, obesity and non-alcoholic steatohepatitis (NASH), today announced that it has agreed to sell, by way of an underwritten public offering, 12,250,000 shares of its common stock at a price of $2.42 per share and, to certain investors in lieu of common stock, pre-funded warrants to purchase 14,630,000 shares of common stock at a price of $2.4199 per pre-funded warrant, for expected aggregate gross proceeds of approximately $65.0 million, before deducting underwriting discounts and commissions and other offering expenses. The purchase price per share of each pre-funded warrant represents the per share public offering price for the common stock, minus the $0.0001 per share exercise price of such pre-funded warrant. The offering is expected to close on August 16, 2022, subject to customary closing conditions. All of the securities are being offered by Terns.

The offering was oversubscribed and led by new investors Fairmount and Venrock Healthcare Capital Partners and included participation from existing top-tier healthcare investors.

Over the last 12 months, TERN stock dropped by -59.30%. The one-year Terns Pharmaceuticals Inc. stock forecast points to a potential upside of 2.22. The average equity rating for TERN stock is currently 2.30, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $111.34 million, with 25.30 million shares outstanding and 23.70 million shares in the current float. Compared to the average trading volume of 248.10K shares, TERN stock reached a trading volume of 7406074 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Terns Pharmaceuticals Inc. [TERN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TERN shares is $4.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TERN stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Goldman have made an estimate for Terns Pharmaceuticals Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 14, 2021. While these analysts kept the previous recommendation, JP Morgan raised their target price to Overweight. The new note on the price target was released on March 02, 2021, representing the official price target for Terns Pharmaceuticals Inc. stock. Previously, the target price had yet another raise to $29, while Goldman analysts kept a Buy rating on TERN stock.

The Average True Range (ATR) for Terns Pharmaceuticals Inc. is set at 0.46, with the Price to Sales ratio for TERN stock in the period of the last 12 months amounting to 111.34. The Price to Book ratio for the last quarter was 0.81, with the Price to Cash per share for the same quarter was set at 5.52.

TERN Stock Performance Analysis:

Terns Pharmaceuticals Inc. [TERN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 109.52. With this latest performance, TERN shares gained by 73.23% in over the last four-week period, additionally plugging by 15.18% over the last 6 months – not to mention a drop of -59.30% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TERN stock in for the last two-week period is set at 83.96, with the RSI for the last a single of trading hit 89.61, and the three-weeks RSI is set at 79.19 for Terns Pharmaceuticals Inc. [TERN]. The present Moving Average for the last 50 days of trading for this stock 2.29, while it was recorded at 2.83 for the last single week of trading, and 4.03 for the last 200 days.

Insight into Terns Pharmaceuticals Inc. Fundamentals:

Terns Pharmaceuticals Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 23.60 and a Current Ratio set at 23.60.

Terns Pharmaceuticals Inc. [TERN] Insider Position Details

There are presently around $65 million, or 92.40% of TERN stock, in the hands of institutional investors. The top three institutional holders of TERN stocks are: ORBIMED ADVISORS LLC with ownership of 3,791,204, which is approximately 0% of the company’s market cap and around 0.10% of the total institutional ownership; VIVO CAPITAL, LLC, holding 2,675,133 shares of the stock with an approximate value of $11.77 million in TERN stocks shares; and RA CAPITAL MANAGEMENT, L.P., currently with $5.55 million in TERN stock with ownership of nearly New of the company’s market capitalization.

Positions in Terns Pharmaceuticals Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 26 institutional holders increased their position in Terns Pharmaceuticals Inc. [NASDAQ:TERN] by around 3,885,167 shares. Additionally, 25 investors decreased positions by around 5,978,029 shares, while 5 investors held positions by with 4,869,734 shares. The mentioned changes placed institutional holdings at 14,732,930 shares, according to the latest SEC report filing. TERN stock had 13 new institutional investments in for a total of 2,941,218 shares, while 12 institutional investors sold positions of 2,536,533 shares during the same period.

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