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

JMP Securities reaffirmed their market outperform rating on shares of Terns Pharmaceuticals (NASDAQ:TERN) in a report released on Monday,Benzinga reports. They currently have a $20.00 price objective on the stock.

Separately, William Blair reissued a “market perform” rating on shares of Terns Pharmaceuticals in a research note on Friday, March 21st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $18.38.

Terns Pharmaceuticals Trading Up 12.9 %

Shares of TERN stock opened at $2.71 on Monday. The firm has a market capitalization of $236.58 million, a price-to-earnings ratio of -2.30 and a beta of -0.13. The business’s 50-day moving average price is $3.11 and its 200-day moving average price is $5.01. Terns Pharmaceuticals has a 12 month low of $1.87 and a 12 month high of $11.40.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its 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, sell-side analysts predict that Terns Pharmaceuticals will post -1.19 earnings per share for the current fiscal year.

Institutional Trading of Terns Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its stake in shares of Terns Pharmaceuticals by 1,141.5% in the 1st quarter. SG Americas Securities LLC now owns 413,822 shares of the company’s stock valued at $1,142,000 after purchasing an additional 380,489 shares during the last quarter. E. Ohman J or Asset Management AB boosted its stake in Terns Pharmaceuticals by 27.4% during the first quarter. E. Ohman J or Asset Management AB now owns 102,410 shares of the company’s stock worth $283,000 after acquiring an additional 22,032 shares in the last quarter. Thrive Wealth Management LLC acquired a new stake in Terns Pharmaceuticals in the first quarter worth $29,000. Infinitum Asset Management LLC bought a new stake in Terns Pharmaceuticals in the fourth quarter valued at $1,108,000. Finally, Woodline Partners LP increased its stake in Terns Pharmaceuticals by 3.4% in the fourth quarter. Woodline Partners LP now owns 311,612 shares of the company’s stock valued at $1,726,000 after purchasing an additional 10,388 shares in the last quarter. 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.