William Blair Reaffirms Market Perform Rating for Terns Pharmaceuticals (NASDAQ:TERN)

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

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

Terns Pharmaceuticals Stock Performance

Shares of TERN traded up $0.27 during trading hours on Friday, hitting $3.41. 951,969 shares of the stock were exchanged, compared to its average volume of 1,390,395. Terns Pharmaceuticals has a 12-month low of $3.08 and a 12-month high of $11.40. The company has a market cap of $289.22 million, a price-to-earnings ratio of -2.90 and a beta of -0.30. The stock’s 50-day moving average price is $4.07 and its two-hundred day moving average price is $6.10.

Terns Pharmaceuticals (NASDAQ:TERN) last issued 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, research analysts expect that Terns Pharmaceuticals will post -1.19 earnings per share for the current year.

Insider Activity

In other news, insider Emil Kuriakose sold 4,481 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $5.71, for a total value of $25,586.51. Following the transaction, the insider now owns 54,269 shares of the company’s stock, valued at $309,875.99. This represents a 7.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mark J. Vignola sold 8,129 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $5.72, for a total value of $46,497.88. Following the completion of the transaction, the chief financial officer now directly owns 83,811 shares in the company, valued at approximately $479,398.92. This trade represents a 8.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,669 shares of company stock valued at $211,040 in the last quarter. Insiders own 15.10% of the company’s stock.

Hedge Funds Weigh In On Terns Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. Rhumbline Advisers lifted its stake 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 in the last quarter. Telemark Asset Management LLC acquired a new position in Terns Pharmaceuticals during the 3rd quarter worth about $2,502,000. Charles Schwab Investment Management Inc. lifted its stake in Terns Pharmaceuticals by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 154,714 shares of the company’s stock worth $1,290,000 after acquiring an additional 1,994 shares in the last quarter. Bellevue Group AG acquired a new position in Terns Pharmaceuticals during the 3rd quarter worth about $8,691,000. Finally, Parkman Healthcare Partners LLC lifted 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 worth $4,552,000 after acquiring an additional 155,481 shares in the last quarter. Institutional investors and hedge funds 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.