Terns Pharmaceuticals (NASDAQ:TERN) PT Raised to $20.00 at JMP Securities

Terns Pharmaceuticals (NASDAQ:TERN) had its price target increased by JMP Securities from $15.00 to $20.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. JMP Securities’ price target would indicate a potential upside of 119.30% from the stock’s previous close.

Several other brokerages have also commented on TERN. HC Wainwright reissued a “neutral” rating and set a $5.50 price objective on shares of Terns Pharmaceuticals in a research report on Tuesday, May 14th. BMO Capital Markets reissued an “outperform” rating and set a $19.00 price target on shares of Terns Pharmaceuticals in a research report on Tuesday, August 6th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Terns Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $14.50.

Terns Pharmaceuticals Price Performance

Shares of NASDAQ TERN opened at $9.12 on Tuesday. Terns Pharmaceuticals has a 1 year low of $3.26 and a 1 year high of $10.06. The company’s 50-day moving average is $7.80 and its 200 day moving average is $6.87. The stock has a market capitalization of $589.88 million, a P/E ratio of -7.24 and a beta of -0.37.

Terns Pharmaceuticals (NASDAQ:TERN) last announced its earnings results on Monday, August 5th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.04. Research analysts anticipate that Terns Pharmaceuticals will post -1.31 earnings per share for the current year.

Insider Activity

In other Terns Pharmaceuticals news, Director Carl L. Gordon sold 50,976 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $10.00, for a total transaction of $509,760.00. Following the completion of the sale, the director now directly owns 756,258 shares in the company, valued at approximately $7,562,580. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Carl L. Gordon sold 50,976 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $10.00, for a total transaction of $509,760.00. Following the sale, the director now owns 756,258 shares in the company, valued at $7,562,580. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Jill M. Quigley sold 6,143 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $7.68, for a total transaction of $47,178.24. Following the completion of the transaction, the director now owns 23,857 shares of the company’s stock, valued at $183,221.76. The disclosure for this sale can be found here. Corporate insiders own 15.10% of the company’s stock.

Institutional Investors Weigh In On Terns Pharmaceuticals

Several institutional investors have recently modified their holdings of TERN. Point72 Asset Management L.P. boosted its holdings in Terns Pharmaceuticals by 21.1% in the second quarter. Point72 Asset Management L.P. now owns 2,690,376 shares of the company’s stock worth $18,321,000 after purchasing an additional 469,176 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Terns Pharmaceuticals by 7.4% in the 4th quarter. Franklin Resources Inc. now owns 2,307,834 shares of the company’s stock worth $14,978,000 after buying an additional 159,013 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Terns Pharmaceuticals by 0.5% in 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 during the period. Janus Henderson Group PLC increased its position in Terns Pharmaceuticals by 40.6% during the first quarter. Janus Henderson Group PLC now owns 2,003,263 shares of the company’s stock valued at $13,131,000 after acquiring an additional 578,500 shares during the last quarter. Finally, Great Point Partners LLC increased its position in Terns Pharmaceuticals by 102.8% during the fourth quarter. Great Point Partners LLC now owns 1,309,975 shares of the company’s stock valued at $8,502,000 after acquiring an additional 664,076 shares during the last quarter. 98.26% of the stock is owned by hedge funds and other 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.