Terns Pharmaceuticals (NASDAQ:TERN) Rating Reiterated by JMP Securities

Terns Pharmaceuticals (NASDAQ:TERN)‘s stock had its “market outperform” rating reissued by equities research analysts at JMP Securities in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $15.00 price target on the stock. JMP Securities’ price target indicates a potential upside of 195.28% from the stock’s previous close.

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

Terns Pharmaceuticals Stock Up 0.6 %

Shares of TERN stock opened at $5.08 on Tuesday. The firm has a market cap of $328.55 million, a price-to-earnings ratio of -4.00 and a beta of -0.63. Terns Pharmaceuticals has a 52-week low of $3.26 and a 52-week high of $13.51. The company’s 50 day moving average is $6.23 and its 200 day moving average is $5.84.

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

Insider Buying and Selling at Terns Pharmaceuticals

In other news, major shareholder Vivo Opportunity, Llc sold 138,066 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $6.20, for a total transaction of $856,009.20. Following the sale, the insider now owns 268,573 shares in the company, valued at $1,665,152.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 17.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Braidwell LP grew its holdings in shares of Terns Pharmaceuticals by 54.2% during the third quarter. Braidwell LP now owns 2,840,052 shares of the company’s stock valued at $14,285,000 after buying an additional 997,700 shares during the last quarter. Decheng Capital LLC purchased a new position in Terns Pharmaceuticals in the 4th quarter worth $4,636,000. Great Point Partners LLC raised its stake in 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. Affinity Asset Advisors LLC acquired a new stake in Terns Pharmaceuticals during the 3rd quarter worth about $1,635,000. Finally, Russell Investments Group Ltd. purchased a new stake in Terns Pharmaceuticals during the 4th quarter valued at about $1,803,000. 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.