Terns Pharmaceuticals’ (TERN) Market Outperform Rating Reaffirmed at JMP Securities

Terns Pharmaceuticals (NASDAQ:TERN)‘s stock had its “market outperform” rating reissued by stock analysts at JMP Securities in a research note issued on Tuesday, Benzinga reports. They presently have a $15.00 price target on the stock. JMP Securities’ price objective would suggest a potential upside of 198.21% from the stock’s previous close.

TERN has been the subject of several other research reports. HC Wainwright reaffirmed a “neutral” rating and set a $5.50 price objective on shares of Terns Pharmaceuticals in a research report on Tuesday. UBS Group decreased their price target on Terns Pharmaceuticals from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, March 27th. Finally, BMO Capital Markets upped their price objective on Terns Pharmaceuticals from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, March 15th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $14.94.

Terns Pharmaceuticals Stock Performance

Terns Pharmaceuticals stock traded down $0.07 during midday trading on Tuesday, reaching $5.03. 555,715 shares of the company’s stock were exchanged, compared to its average volume of 844,279. The stock’s 50-day simple moving average is $6.34 and its 200 day simple moving average is $5.85. The firm has a market cap of $325.34 million, a price-to-earnings ratio of -3.95 and a beta of -0.63. Terns Pharmaceuticals has a 52 week low of $3.26 and a 52 week high of $13.51.

Terns Pharmaceuticals (NASDAQ:TERN) last announced its earnings results on Thursday, March 14th. The company reported ($0.29) EPS for the quarter, hitting the consensus estimate of ($0.29). Research analysts forecast that Terns Pharmaceuticals will post -1.46 earnings per share for the current year.

Insiders Place Their Bets

In other Terns Pharmaceuticals news, major shareholder Vivo Opportunity, Llc sold 138,066 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $6.20, for a total value of $856,009.20. Following the transaction, the insider now directly owns 268,573 shares of the company’s stock, valued at $1,665,152.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 17.40% of the company’s stock.

Institutional Investors Weigh In On Terns Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. increased its stake in Terns Pharmaceuticals by 66.3% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,889 shares of the company’s stock valued at $78,000 after purchasing an additional 4,742 shares in the last quarter. Great Point Partners LLC raised its holdings in shares of Terns Pharmaceuticals by 102.8% in the 4th quarter. Great Point Partners LLC now owns 1,309,975 shares of the company’s stock worth $8,502,000 after acquiring an additional 664,076 shares during the last quarter. Pale Fire Capital SE lifted its position in Terns Pharmaceuticals by 222.4% in the 4th quarter. Pale Fire Capital SE now owns 49,014 shares of the company’s stock valued at $318,000 after acquiring an additional 33,812 shares in the last quarter. Decheng Capital LLC acquired a new position in Terns Pharmaceuticals during the 4th quarter valued at about $4,636,000. Finally, Franklin Resources Inc. increased its holdings in Terns Pharmaceuticals by 7.4% during the 4th quarter. Franklin Resources Inc. now owns 2,307,834 shares of the company’s stock worth $14,978,000 after purchasing an additional 159,013 shares in the last quarter. Institutional investors and hedge funds own 98.26% of the company’s stock.

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.