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

Terns Pharmaceuticals (NASDAQ:TERN)‘s stock had its “market outperform” rating reissued by JMP Securities in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $15.00 price objective on the stock. JMP Securities’ price objective would indicate a potential upside of 198.21% from the stock’s previous close.

Several other research analysts have also weighed in on the company. UBS Group lowered their price objective on Terns Pharmaceuticals from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, March 27th. HC Wainwright restated a “neutral” rating and issued a $5.50 price objective on shares of Terns Pharmaceuticals in a report on Tuesday. Finally, 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 note on Friday, March 15th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Terns Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $14.94.

Terns Pharmaceuticals Stock Performance

Shares of Terns Pharmaceuticals stock traded down $0.07 on Tuesday, hitting $5.03. 555,715 shares of the company’s stock were exchanged, compared to its average volume of 844,279. The company has a 50-day simple moving average of $6.34 and a 200-day simple moving average of $5.85. Terns Pharmaceuticals has a 1 year low of $3.26 and a 1 year high of $13.51. The stock has a market capitalization of $325.34 million, a PE ratio of -3.95 and a beta of -0.63.

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

Insider Activity

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

Hedge Funds Weigh In On Terns Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. lifted its stake 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 worth $78,000 after acquiring an additional 4,742 shares during the period. PEAK6 Investments LLC grew its holdings in Terns Pharmaceuticals by 35.5% during the third quarter. PEAK6 Investments LLC now owns 19,097 shares of the company’s stock worth $96,000 after acquiring an additional 5,000 shares during the period. AJOVista LLC acquired a new stake in Terns Pharmaceuticals in the fourth quarter valued at $58,000. Simplicity Solutions LLC purchased a new stake in shares of Terns Pharmaceuticals during the 4th quarter worth $68,000. Finally, Bleakley Financial Group LLC acquired a new position in shares of Terns Pharmaceuticals during the 4th quarter worth $68,000. 98.26% of the stock is currently owned by hedge funds and other 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.