Terns Pharmaceuticals (NASDAQ:TERN) Receives Sell (D-) Rating from Weiss Ratings

Terns Pharmaceuticals (NASDAQ:TERN)‘s stock had its “sell (d-)” rating reissued by equities researchers at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Several other brokerages have also recently weighed in on TERN. Barclays assumed coverage on Terns Pharmaceuticals in a research note on Wednesday, September 17th. They issued an “overweight” rating and a $15.00 price target on the stock. HC Wainwright started coverage on Terns Pharmaceuticals in a research note on Thursday, September 4th. They issued a “neutral” rating and a $7.44 target price on the stock. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Terns Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $15.49.

Terns Pharmaceuticals Stock Up 3.4%

Shares of TERN stock opened at $8.26 on Wednesday. The stock has a market cap of $722.83 million, a price-to-earnings ratio of -7.94 and a beta of -0.03. The business’s fifty day moving average is $7.09 and its 200 day moving average is $4.79. Terns Pharmaceuticals has a twelve month low of $1.87 and a twelve month high of $8.78.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its quarterly earnings results on Tuesday, August 5th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.02. Equities research analysts expect that Terns Pharmaceuticals will post -1.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Terns Pharmaceuticals

Institutional investors have recently modified their holdings of the stock. Nuveen LLC purchased a new stake in shares of Terns Pharmaceuticals during the first quarter valued at $3,880,000. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Terns Pharmaceuticals during the second quarter valued at $4,774,000. Franklin Resources Inc. purchased a new stake in shares of Terns Pharmaceuticals during the second quarter valued at $4,765,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Terns Pharmaceuticals during the first quarter valued at $1,366,000. Finally, Walleye Capital LLC boosted its position in shares of Terns Pharmaceuticals by 399.8% during the first quarter. Walleye Capital LLC now owns 594,190 shares of the company’s stock valued at $1,640,000 after buying an additional 475,294 shares during the last quarter. 98.26% of the stock is 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.