Terns Pharmaceuticals (NASDAQ:TERN) Hits New 1-Year High on Analyst Upgrade

Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) reached a new 52-week high on Monday after William Blair upgraded the stock from a market perform rating to an outperform rating. The company traded as high as $10.76 and last traded at $14.8940, with a volume of 252277 shares changing hands. The stock had previously closed at $8.26.

A number of other brokerages have also recently commented on TERN. Weiss Ratings restated a “sell (d-)” rating on shares of Terns Pharmaceuticals in a research report on Wednesday, October 8th. Wall Street Zen upgraded Terns Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Citigroup restated an “outperform” rating on shares of Terns Pharmaceuticals in a research report on Thursday, October 23rd. Barclays reduced their price target on Terns Pharmaceuticals from $15.00 to $14.00 and set an “overweight” rating for the company in a research report on Wednesday, October 22nd. Finally, JMP Securities reduced their price target on Terns Pharmaceuticals from $20.00 to $15.00 and set a “market outperform” rating for the company in a research report on Thursday, October 23rd. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $18.31.

Institutional Trading of Terns Pharmaceuticals

Several institutional investors have recently made changes to their positions in TERN. Vontobel Holding Ltd. purchased a new stake in shares of Terns Pharmaceuticals during the first quarter worth about $39,000. Engineers Gate Manager LP bought a new position in Terns Pharmaceuticals during the second quarter valued at approximately $41,000. Canada Pension Plan Investment Board bought a new position in Terns Pharmaceuticals during the second quarter valued at approximately $46,000. LeConte Wealth Management LLC bought a new position in Terns Pharmaceuticals during the second quarter valued at approximately $47,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Terns Pharmaceuticals during the first quarter valued at approximately $51,000. Hedge funds and other institutional investors own 98.26% of the company’s stock.

Terns Pharmaceuticals Stock Up 69.9%

The business has a 50 day moving average of $7.89 and a 200 day moving average of $5.60. The company has a market capitalization of $1.23 billion, a P/E ratio of -13.49 and a beta of -0.03.

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

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.