Terns Pharmaceuticals (NASDAQ:TERN) PT Raised to $20.00 at JMP Securities

Terns Pharmaceuticals (NASDAQ:TERN) had its target price upped by JMP Securities from $15.00 to $20.00 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a market outperform rating on the stock.

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

Terns Pharmaceuticals Price Performance

NASDAQ TERN opened at $8.96 on Tuesday. Terns Pharmaceuticals has a one year low of $3.26 and a one year high of $11.40. The firm has a market cap of $579.21 million, a P/E ratio of -7.11 and a beta of -0.37. The stock’s 50-day moving average is $8.07 and its 200-day moving average is $6.95.

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. Equities analysts anticipate that Terns Pharmaceuticals will post -1.31 EPS for the current year.

Insider Activity at Terns Pharmaceuticals

In other Terns Pharmaceuticals news, CFO Mark J. Vignola sold 10,000 shares of the business’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 sale, the chief financial officer now directly owns 91,940 shares of the company’s stock, valued at approximately $1,011,340. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Terns Pharmaceuticals news, CFO Mark J. Vignola sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $11.00, for a total value of $110,000.00. Following the completion of the transaction, the chief financial officer now directly owns 91,940 shares in the company, valued at $1,011,340. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jill M. Quigley sold 6,143 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $7.68, for a total value of $47,178.24. Following the sale, the director now owns 23,857 shares in the company, valued at approximately $183,221.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 84,354 shares of company stock valued at $839,288. Corporate insiders own 15.10% of the company’s stock.

Institutional Trading of Terns Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its stake in shares of Terns Pharmaceuticals by 12.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,694 shares of the company’s stock worth $136,000 after purchasing an additional 2,261 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in 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 worth $78,000 after buying an additional 4,742 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Terns Pharmaceuticals by 28.7% during the second quarter. The Manufacturers Life Insurance Company now owns 22,645 shares of the company’s stock worth $154,000 after buying an additional 5,049 shares during the last quarter. American Century Companies Inc. raised its stake in Terns Pharmaceuticals by 17.7% in the second quarter. American Century Companies Inc. now owns 64,119 shares of the company’s stock valued at $437,000 after buying an additional 9,635 shares during the period. Finally, Simplicity Wealth LLC acquired a new stake in shares of Terns Pharmaceuticals in the second quarter valued at approximately $72,000. Institutional investors and hedge funds own 98.26% of the company’s stock.

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.