Terns Pharmaceuticals (NASDAQ:TERN) Earns Market Perform Rating from William Blair

Terns Pharmaceuticals (NASDAQ:TERN)‘s stock had its “market perform” rating reiterated by equities researchers at William Blair in a research report issued on Friday,RTT News reports.

A number of other equities analysts also recently weighed in on TERN. JMP Securities reaffirmed a “market outperform” rating and issued a $20.00 price target on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. HC Wainwright restated a “neutral” rating and issued a $7.50 target price on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. Finally, Oppenheimer raised their price target on Terns Pharmaceuticals from $17.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.30.

Terns Pharmaceuticals Price Performance

NASDAQ:TERN opened at $3.35 on Friday. The stock has a market cap of $284.55 million, a PE ratio of -2.84 and a beta of -0.30. Terns Pharmaceuticals has a fifty-two week low of $3.08 and a fifty-two week high of $11.40. The stock’s 50-day moving average is $4.04 and its two-hundred day moving average is $6.06.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its quarterly earnings results on Thursday, March 20th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.06. On average, equities research analysts anticipate that Terns Pharmaceuticals will post -1.19 earnings per share for the current year.

Insiders Place Their Bets

In other Terns Pharmaceuticals news, CFO Mark J. Vignola sold 9,059 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $5.80, for a total transaction of $52,542.20. Following the transaction, the chief financial officer now owns 74,752 shares in the company, valued at $433,561.60. This trade represents a 10.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Emil Kuriakose sold 4,481 shares of Terns Pharmaceuticals stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $5.71, for a total transaction of $25,586.51. Following the completion of the transaction, the insider now directly owns 54,269 shares in the company, valued at approximately $309,875.99. This represents a 7.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,669 shares of company stock valued at $211,040 over the last quarter. Insiders own 15.10% of the company’s stock.

Institutional Trading of Terns Pharmaceuticals

Large investors have recently modified their holdings of the company. Rhumbline Advisers lifted its position in Terns Pharmaceuticals by 16.0% during the 4th quarter. Rhumbline Advisers now owns 97,892 shares of the company’s stock worth $542,000 after acquiring an additional 13,479 shares during the last quarter. Telemark Asset Management LLC bought a new position in shares of Terns Pharmaceuticals in the third quarter worth about $2,502,000. Charles Schwab Investment Management Inc. increased its stake in shares of Terns Pharmaceuticals by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 154,714 shares of the company’s stock worth $1,290,000 after purchasing an additional 1,994 shares during the period. Bellevue Group AG acquired a new position in shares of Terns Pharmaceuticals during the 3rd quarter worth about $8,691,000. Finally, Parkman Healthcare Partners LLC boosted its stake in Terns Pharmaceuticals by 39.8% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 545,751 shares of the company’s stock valued at $4,552,000 after purchasing an additional 155,481 shares during the period. 98.26% of the stock is owned by institutional investors.

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.