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

JMP Securities reaffirmed their market outperform rating on shares of Terns Pharmaceuticals (NASDAQ:TERN) in a research report sent to investors on Tuesday morning, Benzinga reports. The firm currently has a $15.00 target price on the stock.

TERN has been the topic of a number of other research reports. HC Wainwright reiterated a neutral rating and issued a $5.50 price objective on shares of Terns Pharmaceuticals in a report on Tuesday, May 14th. BMO Capital Markets reaffirmed an outperform rating and issued a $19.00 price target on shares of Terns Pharmaceuticals in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $13.50.

Terns Pharmaceuticals Trading Up 4.7 %

NASDAQ TERN opened at $7.81 on Tuesday. Terns Pharmaceuticals has a 52 week low of $3.26 and a 52 week high of $10.03. The firm has a 50 day moving average of $7.76 and a two-hundred day moving average of $6.88.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its earnings results on Monday, August 5th. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.04. As a group, analysts predict that Terns Pharmaceuticals will post -1.31 EPS for the current year.

Insider Transactions at Terns Pharmaceuticals

In related news, Director Jill M. Quigley sold 6,143 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $7.68, for a total value of $47,178.24. Following the completion of the sale, the director now directly owns 23,857 shares of the company’s stock, valued at approximately $183,221.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Jill M. Quigley sold 6,143 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $7.68, for a total value of $47,178.24. Following the completion of the sale, the director now owns 23,857 shares in the company, valued at approximately $183,221.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Carl L. Gordon sold 50,976 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $10.00, for a total transaction of $509,760.00. Following the sale, the director now owns 756,258 shares of the company’s stock, valued at approximately $7,562,580. The disclosure for this sale can be found here. Insiders own 15.10% of the company’s stock.

Hedge Funds Weigh In On Terns Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. lifted its position in Terns Pharmaceuticals by 21.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 2,690,376 shares of the company’s stock worth $18,321,000 after acquiring an additional 469,176 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Terns Pharmaceuticals by 28.7% during the second quarter. The Manufacturers Life Insurance Company now owns 22,645 shares of the company’s stock worth $154,000 after purchasing an additional 5,049 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Terns Pharmaceuticals during the second quarter worth $596,000. Dimensional Fund Advisors LP grew its position in Terns Pharmaceuticals by 9.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 371,892 shares of the company’s stock valued at $2,534,000 after buying an additional 31,875 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in Terns Pharmaceuticals by 17.7% in the 2nd quarter. American Century Companies Inc. now owns 64,119 shares of the company’s stock valued at $437,000 after buying an additional 9,635 shares during the period. 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.