HC Wainwright Reiterates “Neutral” Rating for Terns Pharmaceuticals (NASDAQ:TERN)

Terns Pharmaceuticals (NASDAQ:TERN)‘s stock had its “neutral” rating reiterated by equities researchers at HC Wainwright in a research note issued on Tuesday, Benzinga reports. They currently have a $5.50 target price on the stock. HC Wainwright’s price objective would suggest a potential upside of 8.27% from the stock’s previous close.

Several other analysts also recently issued reports on TERN. UBS Group reduced their price target on Terns Pharmaceuticals from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, March 27th. BMO Capital Markets boosted 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. Finally, JMP Securities lowered their price target on shares of Terns Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating on the stock in a research report on Monday, March 18th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $14.94.

Terns Pharmaceuticals Stock Performance

NASDAQ TERN opened at $5.08 on Tuesday. The stock has a market cap of $328.55 million, a PE ratio of -4.00 and a beta of -0.63. The firm has a 50-day moving average of $6.23 and a 200-day moving average of $5.84. Terns Pharmaceuticals has a 52-week low of $3.26 and a 52-week high of $13.51.

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

Insider Buying and Selling

In other Terns Pharmaceuticals news, major shareholder Vivo Opportunity, Llc sold 181,117 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $6.99, for a total transaction of $1,266,007.83. Following the sale, the insider now directly owns 275,772 shares in the company, valued at $1,927,646.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 17.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Terns Pharmaceuticals by 66.3% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,889 shares of the company’s stock valued at $78,000 after purchasing an additional 4,742 shares in the last quarter. Great Point Partners LLC grew its position 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 last quarter. Pale Fire Capital SE raised its stake in Terns Pharmaceuticals by 222.4% during the fourth quarter. Pale Fire Capital SE now owns 49,014 shares of the company’s stock worth $318,000 after acquiring an additional 33,812 shares in the last quarter. Decheng Capital LLC bought a new position in shares of Terns Pharmaceuticals in the fourth quarter worth about $4,636,000. Finally, Franklin Resources Inc. boosted its stake in shares of Terns Pharmaceuticals by 7.4% in the 4th quarter. Franklin Resources Inc. now owns 2,307,834 shares of the company’s stock valued at $14,978,000 after purchasing an additional 159,013 shares in the last quarter. 98.26% of the stock is currently owned by institutional investors and hedge funds.

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.