Terns Pharmaceuticals (NASDAQ:TERN) Receives Sell (D-) Rating from Weiss Ratings

Key Points

• Terns Pharmaceuticals has received a Sell (D-) rating from Weiss Ratings, while other brokerages like Barclays and HC Wainwright have issued overweight and neutral ratings, respectively.
• The stock currently has an average rating of Hold and a consensus target price of $15.49, despite experiencing fluctuations in its market cap.
• Institutional investors are actively purchasing shares, with notable investments totaling millions of dollars, indicating strong institutional interest in Terns Pharmaceuticals.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report)'s stock had its "sell (d-)" rating reissued by equities researchers at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Several other brokerages have also recently weighed in on TERN. Barclays assumed coverage on Terns Pharmaceuticals in a research note on Wednesday, September 17th. They issued an "overweight" rating and a $15.00 price target on the stock. HC Wainwright started coverage on Terns Pharmaceuticals in a research note on Thursday, September 4th. They issued a "neutral" rating and a $7.44 target price on the stock. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Terns Pharmaceuticals presently has an average rating of "Hold" and a consensus target price of $15.49.

Terns Pharmaceuticals Stock Up 3.4%

Shares of TERN stock opened at $8.26 on Wednesday. The stock has a market cap of $722.83 million, a price-to-earnings ratio of -7.94 and a beta of -0.03. The business's fifty day moving average is $7.09 and its 200 day moving average is $4.79. Terns Pharmaceuticals has a twelve month low of $1.87 and a twelve month high of $8.78.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.02. Equities research analysts expect that Terns Pharmaceuticals will post -1.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Terns Pharmaceuticals

Institutional investors have recently modified their holdings of the stock. Nuveen LLC purchased a new stake in shares of Terns Pharmaceuticals during the first quarter valued at $3,880,000. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Terns Pharmaceuticals during the second quarter valued at $4,774,000. Franklin Resources Inc. purchased a new stake in shares of Terns Pharmaceuticals during the second quarter valued at $4,765,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Terns Pharmaceuticals during the first quarter valued at $1,366,000. Finally, Walleye Capital LLC boosted its position in shares of Terns Pharmaceuticals by 399.8% during the first quarter. Walleye Capital LLC now owns 594,190 shares of the company's stock valued at $1,640,000 after buying an additional 475,294 shares during the last quarter. 98.26% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.