Terns Pharmaceuticals (NASDAQ:TERN) PT Raised to $19.00 at BMO Capital Markets

Terns Pharmaceuticals (NASDAQ:TERN) had its price objective lifted by analysts at BMO Capital Markets from $18.00 to $19.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ price target points to a potential upside of 212.24% from the company’s previous close.

A number of other equities research analysts also recently issued reports on TERN. HC Wainwright reduced their price objective on shares of Terns Pharmaceuticals from $8.00 to $5.50 and set a “neutral” rating for the company in a research report on Wednesday, January 10th. JMP Securities reduced their price objective on shares of Terns Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating for the company in a research report on Monday. Finally, Mizuho reduced their price objective on shares of Terns Pharmaceuticals from $17.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, November 27th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.50.

Terns Pharmaceuticals Stock Down 15.5 %

TERN traded down $1.12 during midday trading on Friday, hitting $6.09. The company had a trading volume of 933,774 shares, compared to its average volume of 844,962. The stock’s 50 day moving average price is $6.56 and its 200 day moving average price is $5.77. The company has a market capitalization of $376.02 million, a price-to-earnings ratio of -4.79 and a beta of -0.61. Terns Pharmaceuticals has a 52 week low of $3.26 and a 52 week high of $14.04.

Institutional Trading of Terns Pharmaceuticals

A number of institutional investors have recently modified their holdings of TERN. Tucker Asset Management LLC bought a new stake in Terns Pharmaceuticals during the 2nd quarter valued at $25,000. Ameritas Investment Partners Inc. bought a new stake in shares of Terns Pharmaceuticals during the 2nd quarter valued at $31,000. Dark Forest Capital Management LP bought a new stake in shares of Terns Pharmaceuticals during the 1st quarter valued at $46,000. UBS Group AG bought a new stake in shares of Terns Pharmaceuticals during the 1st quarter valued at $67,000. Finally, China Universal Asset Management Co. Ltd. raised its stake in shares of Terns Pharmaceuticals by 358.1% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,147 shares of the company’s stock valued at $46,000 after purchasing an additional 5,587 shares during the period. 98.26% of the stock is currently owned by hedge funds and other institutional investors.

About Terns Pharmaceuticals

Terns Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops small-molecule single-agent and combination therapy candidates for the treatment of oncology, non-alcoholic steatohepatitis (NASH), and obesity. The company develops TERN-701, an allosteric BCR-ABL tyrosine kinase inhibitor (TKI) that is in clinical development for chronic myeloid leukemia (CML), a form of cancer that starts in bone marrow.