Terns Pharmaceuticals (NASDAQ:TERN) Earns “Outperform” Rating from BMO Capital Markets

Terns Pharmaceuticals (NASDAQ:TERN)‘s stock had its “outperform” rating reaffirmed by equities research analysts at BMO Capital Markets in a report issued on Monday, Benzinga reports. They currently have a $26.00 target price on the stock, up from their prior target price of $19.00. BMO Capital Markets’ price objective would indicate a potential upside of 191.81% from the stock’s previous close.

Separately, JMP Securities boosted their target price on shares of Terns Pharmaceuticals from $15.00 to $20.00 and gave the company a “market outperform” rating in a research note on Tuesday, September 10th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Terns Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $15.90.

Terns Pharmaceuticals Stock Performance

Shares of NASDAQ TERN opened at $8.91 on Monday. Terns Pharmaceuticals has a 1 year low of $3.26 and a 1 year high of $11.40. The stock has a fifty day moving average price of $8.07 and a two-hundred day moving average price of $6.94. The firm has a market cap of $576.27 million, a P/E ratio of -7.07 and a beta of -0.37.

Terns Pharmaceuticals (NASDAQ:TERN) last announced its earnings results on Monday, August 5th. The company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.04. On average, research analysts predict that Terns Pharmaceuticals will post -1.3 earnings per share for the current fiscal year.

Insider Transactions at Terns Pharmaceuticals

In related news, CFO Mark J. Vignola sold 10,000 shares of the business’s stock in a transaction that occurred 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 directly owns 91,940 shares of the company’s stock, valued at $1,011,340. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Terns Pharmaceuticals news, Director Jill M. Quigley sold 6,143 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $7.68, for a total value of $47,178.24. Following the transaction, the director now directly owns 23,857 shares of the company’s stock, valued at approximately $183,221.76. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Mark J. Vignola sold 10,000 shares of Terns Pharmaceuticals stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $11.00, for a total value of $110,000.00. Following the sale, the chief financial officer now owns 91,940 shares of the company’s stock, valued at $1,011,340. The disclosure for this sale can be found here. Insiders sold 84,354 shares of company stock valued at $839,288 over the last three months. 15.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Terns Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Simplicity Wealth LLC bought a new stake in Terns Pharmaceuticals in the second quarter worth approximately $72,000. China Universal Asset Management Co. Ltd. lifted its stake in shares of Terns Pharmaceuticals by 66.3% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,889 shares of the company’s stock valued at $78,000 after purchasing an additional 4,742 shares during the last quarter. Walleye Trading LLC bought a new stake in Terns Pharmaceuticals in the first quarter worth $98,000. Kennedy Capital Management LLC acquired a new position in Terns Pharmaceuticals during the first quarter worth $101,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Terns Pharmaceuticals during the fourth quarter valued at about $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.