Terns Pharmaceuticals’ (TERN) “Market Outperform” Rating Reaffirmed at JMP Securities

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

Several other research analysts have also weighed in on TERN. HC Wainwright reissued a neutral rating and set a $5.50 price objective on shares of Terns Pharmaceuticals in a research note on Tuesday. BMO Capital Markets upped their price objective 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, UBS Group decreased their target price 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. Two 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, the stock presently has an average rating of Moderate Buy and a consensus target price of $14.94.

Terns Pharmaceuticals Stock Performance

Shares of NASDAQ:TERN opened at $5.44 on Tuesday. The company’s fifty day moving average is $6.18 and its 200-day moving average 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 capitalization of $351.86 million, a PE ratio of -4.28 and a beta of -0.49.

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). On average, analysts forecast that Terns Pharmaceuticals will post -1.46 EPS for the current year.

Insider Buying and Selling 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. Company insiders own 17.40% of the company’s stock.

Institutional Trading of Terns Pharmaceuticals

Institutional investors have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. grew its position in Terns Pharmaceuticals by 66.3% in the first 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. PEAK6 Investments LLC boosted its stake in shares of Terns Pharmaceuticals by 35.5% during the 3rd quarter. PEAK6 Investments LLC now owns 19,097 shares of the company’s stock worth $96,000 after buying an additional 5,000 shares during the last quarter. AJOVista LLC bought a new position in shares of Terns Pharmaceuticals in the 4th quarter valued at about $58,000. Simplicity Solutions LLC acquired a new stake in shares of Terns Pharmaceuticals in the fourth quarter valued at about $68,000. Finally, Bleakley Financial Group LLC bought a new stake in Terns Pharmaceuticals during the fourth quarter worth about $68,000. Institutional investors own 98.26% of the company’s stock.

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.