Weiss Ratings Reaffirms “Sell (D-)” Rating for Terns Pharmaceuticals (NASDAQ:TERN)

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

Several other research firms have also issued reports on TERN. Citigroup reissued an “outperform” rating on shares of Terns Pharmaceuticals in a research report on Thursday. Barclays dropped their target price on Terns Pharmaceuticals from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Wednesday. JMP Securities dropped their target price on Terns Pharmaceuticals from $20.00 to $15.00 and set a “market outperform” rating on the stock in a research report on Thursday. Oppenheimer set a $17.00 target price on Terns Pharmaceuticals in a research report on Wednesday. Finally, Truist Financial assumed coverage on Terns Pharmaceuticals in a research report on Tuesday, October 14th. They issued a “buy” rating and a $20.00 target price on the stock. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Terns Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $13.92.

Terns Pharmaceuticals Trading Up 3.6%

TERN stock opened at $7.77 on Friday. The firm has a market cap of $679.95 million, a P/E ratio of -7.47 and a beta of -0.03. Terns Pharmaceuticals has a 12-month low of $1.87 and a 12-month high of $9.03. The stock’s 50 day simple moving average is $7.59 and its 200 day simple moving average is $5.29.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of TERN. Nuveen LLC bought a new position in shares of Terns Pharmaceuticals in the first quarter worth $3,880,000. Adage Capital Partners GP L.L.C. bought a new position in shares of Terns Pharmaceuticals in the second quarter worth $4,774,000. Franklin Resources Inc. bought a new position in shares of Terns Pharmaceuticals in the second quarter worth $4,765,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Terns Pharmaceuticals in the first quarter worth $1,366,000. Finally, Walleye Capital LLC boosted its stake in 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 in the last quarter. 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.