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

JMP Securities restated their market outperform rating on shares of Terns Pharmaceuticals (NASDAQ:TERN) in a research note issued to investors on Monday,Benzinga reports. JMP Securities currently has a $20.00 price target on the stock.

Separately, William Blair reissued a “market perform” rating on shares of Terns Pharmaceuticals in a report on Friday, March 21st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $18.38.

Terns Pharmaceuticals Stock Performance

Shares of TERN opened at $2.71 on Monday. The firm’s 50-day simple moving average is $3.11 and its 200 day simple moving average is $5.01. The firm has a market cap of $236.58 million, a P/E ratio of -2.30 and a beta of -0.13. Terns Pharmaceuticals has a 52 week low of $1.87 and a 52 week high of $11.40.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its earnings results on Thursday, March 20th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.06. As a group, equities analysts forecast that Terns Pharmaceuticals will post -1.19 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers increased its holdings in Terns Pharmaceuticals by 16.0% in the 4th quarter. Rhumbline Advisers now owns 97,892 shares of the company’s stock valued at $542,000 after buying an additional 13,479 shares during the period. LPL Financial LLC boosted its position in shares of Terns Pharmaceuticals by 397.2% during the 4th quarter. LPL Financial LLC now owns 252,325 shares of the company’s stock worth $1,398,000 after acquiring an additional 201,575 shares in the last quarter. Norges Bank acquired a new stake in shares of Terns Pharmaceuticals during the 4th quarter worth approximately $4,706,000. Geode Capital Management LLC increased its stake in Terns Pharmaceuticals by 7.6% in the third quarter. Geode Capital Management LLC now owns 1,207,479 shares of the company’s stock valued at $10,072,000 after acquiring an additional 85,617 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Terns Pharmaceuticals by 15.3% during the fourth quarter. Vanguard Group Inc. now owns 3,869,582 shares of the company’s stock worth $21,437,000 after purchasing an additional 512,768 shares during the last quarter. Institutional investors and hedge funds own 98.26% of the company’s stock.

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.