Terns Pharmaceuticals (NASDAQ:TERN) Upgraded at HC Wainwright

Terns Pharmaceuticals (NASDAQ:TERN) was upgraded by investment analysts at HC Wainwright from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a $20.00 price target on the stock. HC Wainwright’s price objective would suggest a potential upside of 42.55% from the stock’s current price.

A number of other research firms have also recently commented on TERN. Jefferies Financial Group set a $35.00 price target on Terns Pharmaceuticals and gave the stock a “buy” rating in a report on Monday. Oppenheimer reissued an “outperform” rating and set a $24.00 price target on shares of Terns Pharmaceuticals in a report on Monday. Wall Street Zen raised Terns Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. William Blair raised Terns Pharmaceuticals from a “market perform” rating to an “outperform” rating in a report on Monday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Terns Pharmaceuticals in a report on Wednesday, October 8th. Nine analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $22.50.

Terns Pharmaceuticals Stock Performance

Terns Pharmaceuticals stock opened at $14.03 on Tuesday. Terns Pharmaceuticals has a 52 week low of $1.87 and a 52 week high of $16.27. The stock has a market capitalization of $1.23 billion, a P/E ratio of -13.49 and a beta of -0.03. The stock has a fifty day moving average of $7.89 and a 200-day moving average of $5.60.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.02. On average, research analysts forecast that Terns Pharmaceuticals will post -1.19 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. AlphaQuest LLC increased its holdings in shares of Terns Pharmaceuticals by 9,088,200.0% during the third quarter. AlphaQuest LLC now owns 90,883 shares of the company’s stock worth $683,000 after buying an additional 90,882 shares in the last quarter. Engineers Gate Manager LP acquired a new stake in Terns Pharmaceuticals in the second quarter valued at $41,000. BNP Paribas Financial Markets increased its holdings in Terns Pharmaceuticals by 11.6% in the second quarter. BNP Paribas Financial Markets now owns 506,777 shares of the company’s stock valued at $1,890,000 after purchasing an additional 52,796 shares during the period. Bridgeway Capital Management LLC acquired a new stake in Terns Pharmaceuticals in the second quarter valued at $354,000. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in Terns Pharmaceuticals in the second quarter valued at $4,774,000. 98.26% of the stock is currently owned by institutional investors and hedge funds.

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.