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

JMP Securities reiterated their market outperform rating on shares of Terns Pharmaceuticals (NASDAQ:TERN) in a research note released on Tuesday morning, Benzinga reports. JMP Securities currently has a $15.00 target price on the stock.

Other analysts also recently issued research reports about the stock. BMO Capital Markets increased their target price on shares of Terns Pharmaceuticals from $18.00 to $19.00 and gave the company an outperform rating in a research report on Friday, March 15th. HC Wainwright reiterated a neutral rating and set a $5.50 price objective on shares of Terns Pharmaceuticals in a research report on Tuesday. Finally, UBS Group dropped their target price 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. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $14.94.

Terns Pharmaceuticals Stock Up 2.8 %

Shares of Terns Pharmaceuticals stock opened at $5.44 on Tuesday. The stock has a market cap of $351.86 million, a price-to-earnings ratio of -4.28 and a beta of -0.49. Terns Pharmaceuticals has a twelve month low of $3.26 and a twelve month high of $13.51. The company’s fifty day moving average is $6.18 and its 200 day moving average is $5.84.

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

Insider Transactions at Terns Pharmaceuticals

In related news, major shareholder Vivo Opportunity, Llc sold 138,066 shares of the stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $6.20, for a total transaction of $856,009.20. Following the transaction, the insider now directly owns 268,573 shares of the company’s stock, valued at $1,665,152.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 17.40% of the company’s stock.

Institutional Investors Weigh In On Terns Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Braidwell LP grew its stake in shares of Terns Pharmaceuticals by 54.2% in the 3rd 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 period. Franklin Resources Inc. boosted its holdings in Terns Pharmaceuticals by 7.4% in the fourth quarter. Franklin Resources Inc. now owns 2,307,834 shares of the company’s stock worth $14,978,000 after acquiring an additional 159,013 shares in the last quarter. Great Point Partners LLC grew its stake in Terns Pharmaceuticals by 102.8% in the fourth quarter. Great Point Partners LLC now owns 1,309,975 shares of the company’s stock valued at $8,502,000 after acquiring an additional 664,076 shares during the period. Decheng Capital LLC bought a new stake in shares of Terns Pharmaceuticals during the fourth quarter valued at approximately $4,636,000. Finally, Affinity Asset Advisors LLC acquired a new position in shares of Terns Pharmaceuticals during the third quarter worth approximately $1,635,000. 98.26% of the stock is owned by institutional investors.

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.