UBS Group Lowers Terns Pharmaceuticals (NASDAQ:TERN) Price Target to $18.00

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

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

Terns Pharmaceuticals Stock Up 6.5 %

Shares of NASDAQ TERN opened at $6.56 on Wednesday. The business has a 50-day simple moving average of $6.68 and a two-hundred day simple moving average of $5.83. Terns Pharmaceuticals has a 52 week low of $3.26 and a 52 week high of $14.04. The company has a market cap of $424.10 million, a P/E ratio of -5.17 and a beta of -0.61.

Terns Pharmaceuticals (NASDAQ:TERN) last released its quarterly earnings results on Thursday, March 14th. The company reported ($0.29) earnings per share for the quarter, meeting the consensus estimate of ($0.29). Equities research analysts anticipate that Terns Pharmaceuticals will post -1.44 EPS for the current year.

Hedge Funds Weigh In On Terns Pharmaceuticals

Large investors have recently bought and sold shares of the stock. Virtus ETF Advisers LLC grew its position in shares of Terns Pharmaceuticals by 70.0% in the 4th quarter. Virtus ETF Advisers LLC now owns 14,287 shares of the company’s stock worth $93,000 after buying an additional 5,883 shares during the last quarter. Barclays PLC boosted its position in shares of Terns Pharmaceuticals by 55.7% during the fourth quarter. Barclays PLC now owns 84,582 shares of the company’s stock valued at $548,000 after purchasing an additional 30,255 shares in the last quarter. Nuveen Asset Management LLC boosted its position in shares of Terns Pharmaceuticals by 32.0% during the fourth quarter. Nuveen Asset Management LLC now owns 156,632 shares of the company’s stock valued at $1,017,000 after purchasing an additional 37,952 shares in the last quarter. Great Point Partners LLC boosted its position in shares of Terns Pharmaceuticals by 102.8% during the fourth quarter. Great Point Partners LLC now owns 1,309,975 shares of the company’s stock valued at $8,502,000 after purchasing an additional 664,076 shares in the last quarter. Finally, Brevan Howard Capital Management LP bought a new stake in shares of Terns Pharmaceuticals during the fourth quarter valued at approximately $70,000. 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.