Terns Pharmaceuticals (NASDAQ:TERN) Upgraded at William Blair

William Blair upgraded shares of Terns Pharmaceuticals (NASDAQ:TERN) from a market perform rating to an outperform rating in a report released on Monday, MarketBeat Ratings reports.

Several other equities analysts have also recently commented on TERN. Mizuho set a $9.00 price objective on shares of Terns Pharmaceuticals in a research note on Wednesday, October 22nd. JMP Securities reduced their price objective on shares of Terns Pharmaceuticals from $20.00 to $15.00 and set a “market outperform” rating for the company in a research note on Thursday, October 23rd. Citigroup reaffirmed an “outperform” rating on shares of Terns Pharmaceuticals in a research note on Thursday, October 23rd. Wall Street Zen raised shares of Terns Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Terns Pharmaceuticals in a research note on Wednesday, October 8th. Nine investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.50.

Terns Pharmaceuticals Trading Up 4.4%

Shares of NASDAQ:TERN opened at $18.19 on Monday. The company has a 50 day moving average of $8.32 and a 200 day moving average of $5.80. The stock has a market cap of $1.59 billion, a P/E ratio of -17.49 and a beta of -0.02. Terns Pharmaceuticals has a 12 month low of $1.87 and a 12 month high of $18.75.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.02. On average, equities analysts forecast that Terns Pharmaceuticals will post -1.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Terns Pharmaceuticals news, Director Jill M. Quigley sold 24,520 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $18.00, for a total value of $441,360.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Terns Pharmaceuticals

A number of institutional investors have recently made changes to their positions in TERN. Candriam S.C.A. raised its holdings in Terns Pharmaceuticals by 9.9% during the 2nd quarter. Candriam S.C.A. now owns 2,368,235 shares of the company’s stock valued at $8,834,000 after buying an additional 214,266 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Terns Pharmaceuticals by 3.8% in the 2nd quarter. Geode Capital Management LLC now owns 1,633,349 shares of the company’s stock worth $6,094,000 after buying an additional 59,145 shares during the last quarter. Nuveen LLC bought a new stake in shares of Terns Pharmaceuticals in the 1st quarter worth approximately $3,880,000. Adage Capital Partners GP L.L.C. bought a new stake in shares of Terns Pharmaceuticals in the 2nd quarter worth approximately $4,774,000. Finally, Franklin Resources Inc. bought a new stake in shares of Terns Pharmaceuticals in the 2nd quarter worth approximately $4,765,000. Hedge funds and other institutional investors own 98.26% of the company’s stock.

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.