Terns Pharmaceuticals shares are trading lower after JMP Securities maintained an Outperform rating on the stock but lowered its price target from $17 to $15.
Portfolio Pulse from Benzinga Newsdesk
Terns Pharmaceuticals' stock trades lower as JMP Securities maintains an Outperform rating but reduces the price target from $17 to $15.
March 18, 2024 | 5:05 pm
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Terns Pharmaceuticals sees a decrease in stock price following JMP Securities' adjustment of its price target from $17 to $15, while maintaining an Outperform rating.
The reduction in the price target by JMP Securities, despite maintaining an optimistic Outperform rating, suggests a recalibration of expected performance levels for Terns Pharmaceuticals. This adjustment likely reflects new data or market conditions affecting TERN's outlook, leading to a negative short-term impact on the stock price as investors adjust their expectations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100