JMP Securities Increases Terns Pharmaceuticals (NASDAQ:TERN) Price Target to $20.00

Terns Pharmaceuticals (NASDAQ:TERN) had its price objective increased by research analysts at JMP Securities from $15.00 to $20.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “market outperform” rating on the stock. JMP Securities’ price target would indicate a potential upside of 87.27% from the company’s previous close.

TERN has been the topic of a number of other reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $19.00 price objective on shares of Terns Pharmaceuticals in a research report on Tuesday, August 6th. HC Wainwright reissued a “neutral” rating and issued a $5.50 price target on shares of Terns Pharmaceuticals in a report on Tuesday, May 14th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $14.50.

Terns Pharmaceuticals Stock Down 4.9 %

Shares of Terns Pharmaceuticals stock opened at $10.68 on Tuesday. Terns Pharmaceuticals has a 12-month low of $3.26 and a 12-month high of $11.40. The firm has a market capitalization of $690.78 million, a PE ratio of -8.48 and a beta of -0.37. The stock’s fifty day moving average is $7.97 and its 200-day moving average is $6.92.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its quarterly earnings data 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. Analysts expect that Terns Pharmaceuticals will post -1.31 EPS for the current year.

Insiders Place Their Bets

In other Terns Pharmaceuticals news, Director Carl L. Gordon sold 50,976 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $10.00, for a total value of $509,760.00. Following the sale, the director now directly owns 756,258 shares in the company, valued at $7,562,580. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Jill M. Quigley sold 17,235 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $10.00, for a total value of $172,350.00. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at $150,000. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 owns 756,258 shares of the company’s stock, valued at approximately $7,562,580. The disclosure for this sale can be found here. Insiders sold a total of 74,354 shares of company stock worth $729,288 over the last quarter. Company insiders own 15.10% of the company’s stock.

Institutional Trading of Terns Pharmaceuticals

Several hedge funds have recently modified their holdings of TERN. Point72 Asset Management L.P. lifted its stake in shares of Terns Pharmaceuticals by 21.1% during the second quarter. Point72 Asset Management L.P. now owns 2,690,376 shares of the company’s stock valued at $18,321,000 after acquiring an additional 469,176 shares during the period. Franklin Resources Inc. lifted its position in Terns Pharmaceuticals by 7.4% during the 4th quarter. Franklin Resources Inc. now owns 2,307,834 shares of the company’s stock valued at $14,978,000 after purchasing an additional 159,013 shares during the period. Vanguard Group Inc. boosted its stake in shares of Terns Pharmaceuticals by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 2,199,006 shares of the company’s stock valued at $14,425,000 after purchasing an additional 11,535 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Terns Pharmaceuticals by 40.6% during the 1st quarter. Janus Henderson Group PLC now owns 2,003,263 shares of the company’s stock worth $13,131,000 after buying an additional 578,500 shares during the period. Finally, Great Point Partners LLC raised its stake in shares of Terns Pharmaceuticals by 102.8% during the fourth quarter. Great Point Partners LLC now owns 1,309,975 shares of the company’s stock worth $8,502,000 after buying an additional 664,076 shares during the last quarter. 98.26% of the stock is owned by 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.