Terns Pharmaceuticals’ (TERN) Outperform Rating Reiterated at BMO Capital Markets

by · The Markets Daily

BMO Capital Markets reissued their outperform rating on shares of Terns Pharmaceuticals (NASDAQ:TERN – Free Report) in a report released on Monday morning, Benzinga reports. BMO Capital Markets currently has a $26.00 target price on the stock, up from their previous target price of $19.00.

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

View Our Latest Stock Report on Terns Pharmaceuticals

Terns Pharmaceuticals Trading Up 6.0 %

Shares of NASDAQ:TERN opened at $10.21 on Monday. Terns Pharmaceuticals has a 52-week low of $3.26 and a 52-week high of $11.40. The firm has a fifty day moving average of $8.21 and a 200 day moving average of $6.99.

Terns Pharmaceuticals (NASDAQ:TERN – Get Free Report) last posted its quarterly earnings data on Monday, August 5th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.04. As a group, equities analysts anticipate that Terns Pharmaceuticals will post -1.3 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Trading of Terns Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its position in Terns Pharmaceuticals by 12.3% in the first 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. lifted its stake in shares of Terns Pharmaceuticals by 66.3% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,889 shares of the company’s stock worth $78,000 after purchasing an additional 4,742 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Terns Pharmaceuticals by 28.7% in 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. grew its position in Terns Pharmaceuticals by 17.7% during 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 purchased a new stake in Terns Pharmaceuticals during the second quarter valued at approximately $72,000. Hedge funds and other institutional investors own 98.26% of the company’s stock.

About Terns Pharmaceuticals

(Get Free Report)

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.

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