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

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

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

Terns Pharmaceuticals Trading Down 1.0 %

Shares of NASDAQ:TERN opened at $5.05 on Tuesday. Terns Pharmaceuticals has a 1-year low of $3.26 and a 1-year high of $13.51. The firm has a market capitalization of $326.63 million, a PE ratio of -3.98 and a beta of -0.63. The business’s 50 day moving average is $6.29 and its 200-day moving average is $5.85.

Terns Pharmaceuticals (NASDAQ:TERN) last announced its quarterly earnings data on Thursday, March 14th. The company reported ($0.29) earnings per share for the quarter, hitting the consensus estimate of ($0.29). On average, sell-side analysts predict that Terns Pharmaceuticals will post -1.46 EPS for the current year.

Insider Transactions at Terns Pharmaceuticals

In related news, major shareholder Vivo Opportunity, Llc sold 138,066 shares of the 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 completion of the transaction, the insider now directly owns 268,573 shares in the company, valued at $1,665,152.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 17.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. grew its holdings in shares of Terns Pharmaceuticals by 66.3% during the first quarter. China Universal Asset Management Co. Ltd. now owns 11,889 shares of the company’s stock worth $78,000 after buying an additional 4,742 shares in the last quarter. PEAK6 Investments LLC grew its stake in Terns Pharmaceuticals by 35.5% in the third quarter. PEAK6 Investments LLC now owns 19,097 shares of the company’s stock valued at $96,000 after purchasing an additional 5,000 shares in the last quarter. AJOVista LLC bought a new position in Terns Pharmaceuticals in the fourth quarter valued at approximately $58,000. Simplicity Solutions LLC bought a new position in Terns Pharmaceuticals in the fourth quarter valued at approximately $68,000. Finally, Bleakley Financial Group LLC bought a new position in Terns Pharmaceuticals in the fourth quarter valued at approximately $68,000. 98.26% of the stock is currently 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.