Terns Pharmaceuticals (NASDAQ:TERN) Receives “Market Perform” Rating from William Blair

William Blair reaffirmed their market perform rating on shares of Terns Pharmaceuticals (NASDAQ:TERN) in a research note issued to investors on Friday morning,RTT News reports.

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

Terns Pharmaceuticals Stock Up 6.7 %

Shares of TERN stock opened at $3.35 on Friday. The firm has a market capitalization of $284.55 million, a price-to-earnings ratio of -2.84 and a beta of -0.30. Terns Pharmaceuticals has a 12-month low of $3.08 and a 12-month high of $11.40. The firm has a fifty day moving average of $4.04 and a 200-day moving average of $6.05.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its earnings results on Thursday, March 20th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.06. Research analysts expect that Terns Pharmaceuticals will post -1.19 earnings per share for the current year.

Insider Activity

In other news, Director Jill M. Quigley sold 8,760 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $5.79, for a total value of $50,720.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark J. Vignola sold 9,059 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $5.80, for a total transaction of $52,542.20. Following the completion of the sale, the chief financial officer now owns 74,752 shares of the company’s stock, valued at approximately $433,561.60. This represents a 10.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,669 shares of company stock worth $211,040 over the last ninety days. Insiders own 15.10% of the company’s stock.

Institutional Investors Weigh In On Terns Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the company. Infinitum Asset Management LLC acquired a new position in Terns Pharmaceuticals during the fourth quarter worth approximately $1,108,000. Woodline Partners LP raised its stake in Terns Pharmaceuticals by 3.4% in the 4th quarter. Woodline Partners LP now owns 311,612 shares of the company’s stock valued at $1,726,000 after acquiring an additional 10,388 shares during the period. Velan Capital Investment Management LP acquired a new stake in Terns Pharmaceuticals during the 4th quarter valued at $94,000. Soleus Capital Management L.P. boosted its position in Terns Pharmaceuticals by 30.8% during the fourth quarter. Soleus Capital Management L.P. now owns 8,142,500 shares of the company’s stock worth $45,109,000 after purchasing an additional 1,918,956 shares during the period. Finally, Tema Etfs LLC acquired a new position in shares of Terns Pharmaceuticals in the fourth quarter valued at $442,000. 98.26% of the stock is owned by institutional investors.

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.