Terns Pharmaceuticals (NASDAQ:TERN) Rating Increased to Hold at Wall Street Zen

Key Points

• Terns Pharmaceuticals has been upgraded from a "sell" to a "hold" rating by Wall Street Zen, reflecting a positive shift in analyst sentiment.
• The company's stock price opened at $7.77, with a 12-month high of $9.03 and a consensus price target of $13.92.
• Several analysts have recently set price objectives for Terns Pharmaceuticals, ranging from $7.44 to $20.00, indicating varying levels of confidence in the company's performance.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Saturday.

A number of other equities research analysts also recently commented on the company. Mizuho set a $9.00 price objective on Terns Pharmaceuticals in a report on Wednesday. Oppenheimer set a $17.00 price objective on Terns Pharmaceuticals in a report on Wednesday. HC Wainwright started coverage on Terns Pharmaceuticals in a report on Thursday, September 4th. They issued a "neutral" rating and a $7.44 price objective for the company. Citigroup reiterated an "outperform" rating on shares of Terns Pharmaceuticals in a report on Thursday. Finally, JMP Securities dropped their price objective on Terns Pharmaceuticals from $20.00 to $15.00 and set a "market outperform" rating for the company in a report on Thursday. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Terns Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus price target of $13.92.

Terns Pharmaceuticals Stock Up 3.6%

Shares of TERN opened at $7.77 on Friday. The stock's fifty day simple moving average is $7.59 and its 200-day simple moving average is $5.25. The firm has a market capitalization of $679.95 million, a PE ratio of -7.47 and a beta of -0.03. Terns Pharmaceuticals has a 12-month low of $1.87 and a 12-month high of $9.03.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported ($0.26) EPS for the quarter, beating analysts' consensus estimates of ($0.28) by $0.02. Analysts anticipate that Terns Pharmaceuticals will post -1.19 EPS for the current year.

Institutional Investors Weigh In On Terns Pharmaceuticals

Large investors have recently modified their holdings of the business. Engineers Gate Manager LP bought a new stake in shares of Terns Pharmaceuticals in the second quarter worth about $41,000. Canada Pension Plan Investment Board bought a new position in shares of Terns Pharmaceuticals during the second quarter worth about $46,000. LeConte Wealth Management LLC bought a new position in shares of Terns Pharmaceuticals during the second quarter worth about $47,000. Vontobel Holding Ltd. bought a new position in shares of Terns Pharmaceuticals during the first quarter worth about $39,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Terns Pharmaceuticals during the first quarter worth about $51,000. 98.26% of the stock is currently owned by 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.

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