Terns Pharmaceuticals (NASDAQ:TERN) Rating Reiterated by BMO Capital Markets

Terns Pharmaceuticals (NASDAQ:TERN)‘s stock had its “outperform” rating reiterated by BMO Capital Markets in a research note issued on Monday, Benzinga reports. They presently have a $26.00 price target on the stock, up from their previous price target of $19.00. BMO Capital Markets’ price target suggests a potential upside of 169.99% from the company’s previous close.

Separately, JMP Securities upped their target price on shares of Terns Pharmaceuticals from $15.00 to $20.00 and gave the stock a “market outperform” rating in a research report on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Terns Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $15.90.

Terns Pharmaceuticals Stock Performance

Terns Pharmaceuticals stock opened at $9.63 on Monday. The stock has a market cap of $622.84 million, a P/E ratio of -7.64 and a beta of -0.37. Terns Pharmaceuticals has a fifty-two week low of $3.26 and a fifty-two week high of $11.40. The firm’s fifty day moving average price is $8.15 and its 200-day moving average price is $6.97.

Terns Pharmaceuticals (NASDAQ:TERN) last announced its earnings results 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. Sell-side analysts predict that Terns Pharmaceuticals will post -1.3 earnings per share for the current year.

Insider Buying and Selling at Terns Pharmaceuticals

In other Terns Pharmaceuticals news, CFO Mark J. Vignola sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $11.00, for a total transaction of $110,000.00. Following the completion of the sale, the chief financial officer now directly owns 91,940 shares in the company, valued at $1,011,340. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Terns Pharmaceuticals news, CFO Mark J. Vignola sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $11.00, for a total transaction of $110,000.00. Following the completion of the sale, the chief financial officer now directly owns 91,940 shares in the company, valued at $1,011,340. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Carl L. Gordon sold 50,976 shares of the company’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 sale, the director now owns 756,258 shares of the company’s stock, valued at $7,562,580. The disclosure for this sale can be found here. Insiders sold a total of 84,354 shares of company stock worth $839,288 over the last three months. Company insiders own 15.10% of the company’s stock.

Hedge Funds Weigh In On Terns Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the company. Simplicity Wealth LLC bought a new position in shares of Terns Pharmaceuticals during the second quarter valued at about $72,000. China Universal Asset Management Co. Ltd. raised its stake in shares of Terns Pharmaceuticals by 66.3% during the first quarter. China Universal Asset Management Co. Ltd. now owns 11,889 shares of the company’s stock valued at $78,000 after acquiring an additional 4,742 shares during the last quarter. Walleye Trading LLC bought a new position in Terns Pharmaceuticals in the first quarter worth about $98,000. Kennedy Capital Management LLC bought a new position in Terns Pharmaceuticals in the first quarter worth about $101,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Terns Pharmaceuticals in the fourth quarter worth about $106,000. 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.