Terns Pharmaceuticals (NASDAQ:TERN) PT Lowered to $18.00 at UBS Group

Terns Pharmaceuticals (NASDAQ:TERN) had its price objective decreased by UBS Group from $19.00 to $18.00 in a research note released on Wednesday morning, Benzinga reports. UBS Group currently has a buy rating on the stock.

A number of other research analysts also recently commented on the stock. HC Wainwright reiterated a neutral rating and set a $5.50 price objective on shares of Terns Pharmaceuticals in a research note on Friday, March 15th. BMO Capital Markets raised their price target on shares of Terns Pharmaceuticals from $18.00 to $19.00 and gave the stock an outperform rating in a research report on Friday, March 15th. Finally, JMP Securities reduced their price target on shares of Terns Pharmaceuticals from $17.00 to $15.00 and set an outperform rating on the stock in a research report on Monday, March 18th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Terns Pharmaceuticals has a consensus rating of Moderate Buy and a consensus price target of $14.94.

Terns Pharmaceuticals Trading Up 6.5 %

TERN opened at $6.56 on Wednesday. Terns Pharmaceuticals has a twelve month low of $3.26 and a twelve month high of $14.04. The firm has a market cap of $424.10 million, a price-to-earnings ratio of -5.17 and a beta of -0.61. The company has a fifty day simple moving average of $6.68 and a 200 day simple moving average of $5.83.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its quarterly earnings data on Thursday, March 14th. The company reported ($0.29) EPS for the quarter, meeting analysts’ consensus estimates of ($0.29). On average, analysts forecast that Terns Pharmaceuticals will post -1.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TERN. Tucker Asset Management LLC purchased a new position in shares of Terns Pharmaceuticals in the second quarter worth approximately $25,000. Ameritas Investment Partners Inc. purchased a new position in shares of Terns Pharmaceuticals in the second quarter worth approximately $31,000. Dark Forest Capital Management LP purchased a new position in shares of Terns Pharmaceuticals in the first quarter worth approximately $46,000. China Universal Asset Management Co. Ltd. increased its position in shares of Terns Pharmaceuticals by 358.1% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 7,147 shares of the company’s stock worth $46,000 after acquiring an additional 5,587 shares in the last quarter. Finally, AJOVista LLC purchased a new position in shares of Terns Pharmaceuticals in the fourth quarter worth approximately $58,000. 98.26% of the stock is owned by hedge funds and other institutional investors.

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.