Recap: Terns Pharma Q3 Earnings
Portfolio Pulse from Benzinga Insights
Terns Pharma (NASDAQ:TERN) reported Q3 earnings with an EPS of $-0.42, missing estimates by 40.0% compared to the expected $-0.3. The company's revenue was unchanged from the same period last year. Following the last quarter's earnings beat of $0.09, TERN's share price dropped by 13.73% the next day.
November 14, 2023 | 2:10 pm
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NEGATIVE IMPACT
Terns Pharma reported a larger loss than expected in Q3 with an EPS of $-0.42, missing the estimate by 40%. There was no revenue growth compared to the same period last year.
Missing earnings estimates typically leads to negative investor sentiment and can cause a short-term decline in stock price. Given TERN's previous post-earnings share price drop, a similar reaction could occur.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100