Terns Pharmaceuticals (NASDAQ:TERN) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) had its target price increased by BMO Capital Markets from $22.00 to $30.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the stock. BMO Capital Markets' target price indicates a potential upside of 12.40% from the stock's current price.

A number of other equities research analysts have also recently issued reports on the stock. Wall Street Zen raised shares of Terns Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Saturday, October 25th. JMP Securities lowered their price target on Terns Pharmaceuticals from $20.00 to $15.00 and set a "market outperform" rating on the stock in a research report on Thursday, October 23rd. William Blair raised Terns Pharmaceuticals from a "market perform" rating to an "outperform" rating in a research report on Monday, November 3rd. HC Wainwright upgraded Terns Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $20.00 price target on the stock in a research note on Tuesday, November 4th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $24.00 price target on shares of Terns Pharmaceuticals in a report on Monday, November 3rd. Ten equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $26.63.

View Our Latest Analysis on Terns Pharmaceuticals

Terns Pharmaceuticals Stock Performance

NASDAQ TERN traded up $1.13 during trading on Tuesday, hitting $26.69. The stock had a trading volume of 2,377,132 shares, compared to its average volume of 1,525,396. Terns Pharmaceuticals has a 12 month low of $1.87 and a 12 month high of $27.41. The company's 50-day moving average price is $10.48 and its two-hundred day moving average price is $6.81. The company has a market capitalization of $2.40 billion, a PE ratio of -26.04 and a beta of -0.02.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last announced its earnings results on Monday, November 10th. The company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.03. As a group, equities analysts anticipate that Terns Pharmaceuticals will post -1.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jill M. Quigley sold 24,520 shares of the company's stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $18.00, for a total transaction of $441,360.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TERN. Commodore Capital LP acquired a new position in Terns Pharmaceuticals in the third quarter valued at about $42,807,000. Vanguard Group Inc. increased its holdings in Terns Pharmaceuticals by 5.9% in the 3rd quarter. Vanguard Group Inc. now owns 4,559,917 shares of the company's stock valued at $34,245,000 after buying an additional 253,751 shares during the period. Candriam S.C.A. increased its holdings in Terns Pharmaceuticals by 9.9% in 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 period. Geode Capital Management LLC raised 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 valued at $6,094,000 after buying an additional 59,145 shares in the last quarter. Finally, Nuveen LLC bought a new stake in shares of Terns Pharmaceuticals during the 1st quarter worth approximately $3,880,000. 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.

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