Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.03, Zacks reports.
Terns Pharmaceuticals Stock Performance
NASDAQ:TERN traded up $0.01 during mid-day trading on Thursday, hitting $2.79. 552,702 shares of the stock were exchanged, compared to its average volume of 1,530,848. The firm's 50-day simple moving average is $2.86 and its 200 day simple moving average is $4.53. Terns Pharmaceuticals has a fifty-two week low of $1.87 and a fifty-two week high of $11.40. The stock has a market capitalization of $243.67 million, a price-to-earnings ratio of -2.36 and a beta of -0.16.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on the company. JMP Securities restated a "market outperform" rating and issued a $20.00 price target on shares of Terns Pharmaceuticals in a research report on Monday, April 21st. William Blair reaffirmed a "market perform" rating on shares of Terns Pharmaceuticals in a research note on Friday, March 21st. Finally, BMO Capital Markets decreased their price objective on shares of Terns Pharmaceuticals from $26.00 to $15.00 and set an "outperform" rating for the company in a report on Tuesday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Terns Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus target price of $15.63.
Check Out Our Latest Analysis on TERN
Hedge Funds Weigh In On Terns Pharmaceuticals
An institutional investor recently raised its position in Terns Pharmaceuticals stock. Cubist Systematic Strategies LLC boosted its position in Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 136.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,327 shares of the company's stock after purchasing an additional 16,363 shares during the period. Cubist Systematic Strategies LLC's holdings in Terns Pharmaceuticals were worth $78,000 at the end of the most recent quarter. Institutional investors and hedge funds 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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