Terns Pharmaceuticals (NASDAQ:TERN) Receives Market Outperform Rating from JMP Securities

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

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

Terns Pharmaceuticals Trading Up 0.6 %

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

Terns Pharmaceuticals (NASDAQ:TERN) last posted its quarterly earnings results on Thursday, March 14th. The company reported ($0.29) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.29). On average, equities research analysts expect that Terns Pharmaceuticals will post -1.46 earnings per share for the current year.

Insider Activity at Terns Pharmaceuticals

In related news, major shareholder Vivo Opportunity, Llc sold 181,117 shares of Terns Pharmaceuticals stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $6.99, for a total transaction of $1,266,007.83. Following the completion of the sale, the insider now owns 275,772 shares in the company, valued at approximately $1,927,646.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 17.40% of the company’s stock.

Institutional Investors Weigh In On Terns Pharmaceuticals

Hedge funds have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. raised its position in shares of Terns Pharmaceuticals by 358.1% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 7,147 shares of the company’s stock valued at $46,000 after buying an additional 5,587 shares during the last quarter. AJOVista LLC acquired a new position in Terns Pharmaceuticals in the 4th quarter valued at $58,000. Simplicity Solutions LLC purchased a new position in shares of Terns Pharmaceuticals during the 4th quarter worth $68,000. Bleakley Financial Group LLC purchased a new position in shares of Terns Pharmaceuticals during the 4th quarter worth $68,000. Finally, Pale Fire Capital SE acquired a new stake in shares of Terns Pharmaceuticals during the third quarter worth $76,000. 98.26% of the stock is owned by institutional investors and hedge funds.

About Terns Pharmaceuticals

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.