Terns Pharmaceuticals’ (TERN) Market Perform Rating Reaffirmed at William Blair

William Blair reiterated their market perform rating on shares of Terns Pharmaceuticals (NASDAQ:TERN) in a report published on Friday morning,RTT News reports.

A number of other brokerages also recently commented on TERN. JMP Securities restated a “market outperform” rating and issued a $20.00 target price on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. HC Wainwright restated a “neutral” rating and issued a $7.50 target price on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. Finally, Oppenheimer upped their target price on Terns Pharmaceuticals from $17.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.30.

Terns Pharmaceuticals Stock Performance

Terns Pharmaceuticals stock opened at $3.35 on Friday. The business’s 50-day simple moving average is $4.04 and its two-hundred day simple moving average is $6.07. The company has a market cap of $284.55 million, a PE ratio of -2.84 and a beta of -0.30. Terns Pharmaceuticals has a fifty-two week low of $3.08 and a fifty-two week high of $11.40.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its quarterly earnings results on Thursday, March 20th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.06. As a group, analysts predict that Terns Pharmaceuticals will post -1.19 EPS for the current fiscal year.

Insiders Place Their Bets

In other Terns Pharmaceuticals news, Director Jill M. Quigley sold 8,760 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $5.79, for a total transaction of $50,720.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Mark J. Vignola sold 8,129 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $5.72, for a total value of $46,497.88. Following the transaction, the chief financial officer now owns 83,811 shares in the company, valued at $479,398.92. This represents a 8.84 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,669 shares of company stock worth $211,040. 15.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Terns Pharmaceuticals

A number of hedge funds have recently bought and sold shares of TERN. Candriam S.C.A. purchased a new position in Terns Pharmaceuticals during the fourth quarter worth approximately $11,933,000. Acorn Capital Advisors LLC acquired a new position in shares of Terns Pharmaceuticals during the fourth quarter valued at approximately $10,921,000. Soleus Capital Management L.P. raised its holdings in shares of Terns Pharmaceuticals by 30.8% during the fourth quarter. Soleus Capital Management L.P. now owns 8,142,500 shares of the company’s stock valued at $45,109,000 after acquiring an additional 1,918,956 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its holdings in shares of Terns Pharmaceuticals by 44.4% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 4,751,506 shares of the company’s stock valued at $26,323,000 after acquiring an additional 1,461,680 shares during the last quarter. Finally, Bellevue Group AG acquired a new position in shares of Terns Pharmaceuticals during the third quarter valued at approximately $8,691,000. Hedge funds and other institutional investors 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.