JMP Securities Reiterates Market Outperform Rating for Terns Pharmaceuticals (NASDAQ:TERN)

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

TERN has been the topic of several other reports. HC Wainwright reissued a “neutral” rating and issued a $7.50 target price on shares of Terns Pharmaceuticals in a report on Wednesday. Oppenheimer raised their price objective on shares of Terns Pharmaceuticals from $17.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, BMO Capital Markets reissued an “outperform” rating and set a $26.00 price target (up from $19.00) on shares of Terns Pharmaceuticals in a research note on Monday, September 16th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.30.

Terns Pharmaceuticals Price Performance

Shares of TERN stock opened at $6.44 on Wednesday. The stock’s fifty day simple moving average is $7.06 and its 200 day simple moving average is $7.51. Terns Pharmaceuticals has a one year low of $4.32 and a one year high of $11.40. The firm has a market cap of $547.01 million, a price-to-earnings ratio of -5.46 and a beta of -0.36.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its earnings results on Tuesday, November 12th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.05. On average, research analysts anticipate that Terns Pharmaceuticals will post -1.22 earnings per share for the current year.

Insider Transactions at Terns Pharmaceuticals

In related news, Director Hongbo Lu acquired 476,190 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was acquired at an average cost of $10.50 per share, with a total value of $4,999,995.00. Following the completion of the purchase, the director now directly owns 476,190 shares in the company, valued at approximately $4,999,995. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jill M. Quigley sold 17,235 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $10.00, for a total value of $172,350.00. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $150,000. The trade was a 53.47 % decrease in their position. The disclosure for this sale can be found here. 15.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Terns Pharmaceuticals by 0.5% during the first quarter. Vanguard Group Inc. now owns 2,199,006 shares of the company’s stock worth $14,425,000 after acquiring an additional 11,535 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Terns Pharmaceuticals by 12.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,694 shares of the company’s stock worth $136,000 after acquiring an additional 2,261 shares in the last quarter. Walleye Trading LLC bought a new stake in Terns Pharmaceuticals in the 1st quarter valued at $98,000. Simplicity Wealth LLC acquired a new position in Terns Pharmaceuticals in the 2nd quarter worth $72,000. Finally, Salem Investment Counselors Inc. acquired a new stake in shares of Terns Pharmaceuticals in the 2nd quarter valued at about $2,531,000. 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.