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

BMO Capital Markets reaffirmed their outperform rating on shares of Terns Pharmaceuticals (NASDAQ:TERN) in a report issued on Monday morning, Benzinga reports. The firm currently has a $26.00 price objective on the stock, up from their previous price objective of $19.00.

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 report on Tuesday, September 10th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Terns Pharmaceuticals presently has a consensus rating of Moderate Buy and an average target price of $15.90.

Terns Pharmaceuticals Stock Up 6.0 %

TERN stock opened at $10.21 on Monday. The business’s 50-day moving average price is $8.21 and its 200-day moving average price is $6.99. Terns Pharmaceuticals has a twelve month low of $3.26 and a twelve month high of $11.40.

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

Insider Buying and Selling at Terns Pharmaceuticals

In other news, Director Jill M. Quigley sold 6,143 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $7.68, for a total value of $47,178.24. Following the transaction, the director now owns 23,857 shares of the company’s stock, valued at $183,221.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Hongbo Lu purchased 476,190 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was bought at an average cost of $10.50 per share, with a total value of $4,999,995.00. Following the completion of the purchase, the director now owns 476,190 shares in the company, valued at $4,999,995. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jill M. Quigley sold 6,143 shares of Terns Pharmaceuticals 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 completion of the sale, the director now directly owns 23,857 shares in the company, valued at approximately $183,221.76. The disclosure for this sale can be found here. Insiders sold a total of 84,354 shares of company stock valued at $839,288 in the last three months. 15.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Decheng Capital LLC bought a new stake in Terns Pharmaceuticals in the fourth quarter worth $4,636,000. Great Point Partners LLC increased its holdings in shares of Terns Pharmaceuticals by 102.8% in the 4th 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. Janus Henderson Group PLC raised 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 valued at $13,131,000 after buying an additional 578,500 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Terns Pharmaceuticals by 21.1% in the 2nd 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 last quarter. Finally, Affinity Asset Advisors LLC grew its position in Terns Pharmaceuticals by 581.8% in the first quarter. Affinity Asset Advisors LLC now owns 450,000 shares of the company’s stock worth $2,952,000 after acquiring an additional 384,000 shares in the last quarter. 98.26% of the stock is currently owned by institutional investors.

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.