Terns Pharmaceuticals (NASDAQ:TERN) Given Market Outperform Rating at JMP Securities

Terns Pharmaceuticals (NASDAQ:TERN)‘s stock had its “market outperform” rating reaffirmed by investment analysts at JMP Securities in a report released on Monday,Benzinga reports. They currently have a $20.00 target price on the stock.

Separately, William Blair reissued a “market perform” rating on shares of Terns Pharmaceuticals in a research note on Friday, March 21st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $18.38.

Terns Pharmaceuticals Price Performance

Shares of TERN traded up $0.39 during mid-day trading on Monday, reaching $2.79. 1,125,459 shares of the company’s stock traded hands, compared to its average volume of 1,515,357. Terns Pharmaceuticals has a 12 month low of $1.87 and a 12 month high of $11.40. The stock has a market cap of $243.56 million, a P/E ratio of -2.36 and a beta of -0.13. The stock’s 50-day moving average is $3.15 and its two-hundred day moving average is $5.05.

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

Institutional Trading of Terns Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Thrive Wealth Management LLC purchased a new position in Terns Pharmaceuticals in the first quarter worth $29,000. Landscape Capital Management L.L.C. acquired a new position in shares of Terns Pharmaceuticals during the 4th quarter valued at about $73,000. Townsquare Capital LLC acquired a new stake in Terns Pharmaceuticals during the fourth quarter worth about $76,000. Oxford Asset Management LLP purchased a new position in shares of Terns Pharmaceuticals in the 4th quarter worth about $86,000. Finally, Savant Capital LLC acquired a new position in shares of Terns Pharmaceuticals in the 4th quarter valued at about $89,000. 98.26% of the stock is owned by hedge funds and other institutional investors.

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.