Terns Pharmaceuticals’ (TERN) Market Outperform Rating Reiterated at JMP Securities

Terns Pharmaceuticals (NASDAQ:TERN)‘s stock had its “market outperform” rating reissued by stock analysts at JMP Securities in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $20.00 target price on the stock. JMP Securities’ price target indicates a potential upside of 177.39% from the company’s current price.

Other equities analysts have also issued research reports about the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $26.00 price objective (up previously from $19.00) on shares of Terns Pharmaceuticals in a research note on Monday, September 16th. Oppenheimer raised their price objective on shares of Terns Pharmaceuticals from $17.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, HC Wainwright reaffirmed a “neutral” rating and issued a $7.50 price objective on shares of Terns Pharmaceuticals in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.30.

Terns Pharmaceuticals Stock Up 13.4 %

NASDAQ:TERN traded up $0.85 during trading hours on Wednesday, reaching $7.21. 1,944,462 shares of the company’s stock were exchanged, compared to its average volume of 1,299,851. The company has a market capitalization of $612.42 million, a P/E ratio of -6.11 and a beta of -0.36. Terns Pharmaceuticals has a 12 month low of $4.32 and a 12 month high of $11.40. The business’s 50-day simple moving average is $7.10 and its two-hundred day simple moving average is $7.51.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its earnings results on Tuesday, November 12th. The company reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.05. As a group, sell-side analysts anticipate that Terns Pharmaceuticals will post -1.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Mark J. Vignola sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $11.00, for a total transaction of $110,000.00. Following the transaction, the chief financial officer now owns 91,940 shares in the company, valued at approximately $1,011,340. This trade represents a 9.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Hongbo Lu purchased 476,190 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were acquired at an average price of $10.50 per share, for a total transaction of $4,999,995.00. Following the acquisition, the director now directly owns 476,190 shares in the company, valued at $4,999,995. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 15.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TERN. nVerses Capital LLC bought a new position in shares of Terns Pharmaceuticals during the 3rd quarter valued at $48,000. Simplicity Wealth LLC bought a new position in Terns Pharmaceuticals in the 2nd quarter worth $72,000. Sio Capital Management LLC bought a new position in Terns Pharmaceuticals in the 3rd quarter worth $83,000. Walleye Trading LLC bought a new position in Terns Pharmaceuticals in the 1st quarter worth $98,000. Finally, Entropy Technologies LP bought a new position in Terns Pharmaceuticals in the 3rd quarter worth $106,000. 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.