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

Terns Pharmaceuticals (NASDAQ:TERN)‘s stock had its “market outperform” rating reaffirmed by research analysts at JMP Securities in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $20.00 price target on the stock. JMP Securities’ price target would indicate a potential upside of 210.56% from the company’s current price.

A number of other brokerages also recently weighed in on TERN. HC Wainwright reiterated a “neutral” rating and issued a $7.50 target price on shares of Terns Pharmaceuticals in a report on Wednesday. Oppenheimer lifted their target price on shares of Terns Pharmaceuticals from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $26.00 price objective (up from $19.00) on shares of Terns Pharmaceuticals in a report on Monday, September 16th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.30.

Terns Pharmaceuticals Price Performance

TERN stock opened at $6.44 on Wednesday. The firm has a market capitalization of $547.01 million, a P/E ratio of -5.46 and a beta of -0.36. Terns Pharmaceuticals has a 52-week low of $4.32 and a 52-week high of $11.40. The company’s 50 day simple moving average is $7.06 and its 200-day simple moving average is $7.51.

Terns Pharmaceuticals (NASDAQ:TERN) last released its earnings results on Tuesday, November 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.05. Sell-side analysts predict that Terns Pharmaceuticals will post -1.22 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Hongbo Lu bought 476,190 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was purchased at an average price of $10.50 per share, with a total value of $4,999,995.00. Following the transaction, the director now directly owns 476,190 shares in the company, valued at approximately $4,999,995. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Mark J. Vignola sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $11.00, for a total value of $110,000.00. Following the completion of the sale, the chief financial officer now directly owns 91,940 shares in the company, valued at approximately $1,011,340. This represents a 9.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Terns Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the business. nVerses Capital LLC acquired a new stake in shares of Terns Pharmaceuticals in the third quarter worth $48,000. Sio Capital Management LLC acquired a new position in Terns Pharmaceuticals in the 3rd quarter valued at approximately $83,000. Simplicity Wealth LLC acquired a new stake in shares of Terns Pharmaceuticals during the 2nd quarter worth approximately $72,000. Entropy Technologies LP bought a new stake in shares of Terns Pharmaceuticals during the third quarter valued at approximately $106,000. Finally, Bleakley Financial Group LLC lifted its position in Terns Pharmaceuticals by 26.0% in the third quarter. Bleakley Financial Group LLC now owns 13,312 shares of the company’s stock worth $111,000 after purchasing an additional 2,751 shares during the period. 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.