Latest News

Roth Capital Begins Coverage on Turning Point Therapeutics (NASDAQ:TPTX)

Roth Capital started coverage on shares of Turning Point Therapeutics (NASDAQ:TPTX) in a report issued on Thursday, November 14th, Marketbeat reports. The firm set a “buy” rating and a $65.00 price target on the stock. Roth Capital’s price objective suggests a potential upside of 18.59% from the company’s previous close.

A number of other research analysts have also recently commented on TPTX. Wedbush started coverage on Turning Point Therapeutics in a research note on Monday, September 9th. They set an “outperform” rating and a $63.00 target price on the stock. Wells Fargo & Co upped their target price on Turning Point Therapeutics from $53.00 to $62.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Canaccord Genuity increased their price objective on Turning Point Therapeutics from $53.00 to $56.00 and gave the stock a “buy” rating in a research note on Thursday, September 5th. Guggenheim began coverage on Turning Point Therapeutics in a report on Wednesday, July 24th. They set a “buy” rating and a $58.00 target price for the company. Finally, Zacks Investment Research upgraded Turning Point Therapeutics from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a report on Friday, November 8th. Eleven investment analysts have rated the stock with a buy rating, Turning Point Therapeutics presently has a consensus rating of “Buy” and an average target price of $55.00.

Shares of Turning Point Therapeutics stock traded up $2.82 during trading hours on Thursday, hitting $54.81. The company’s stock had a trading volume of 34,265 shares, compared to its average volume of 373,031. The company has a debt-to-equity ratio of 0.01, a current ratio of 36.64 and a quick ratio of 36.64. Turning Point Therapeutics has a 12-month low of $24.21 and a 12-month high of $58.56. The business has a 50 day moving average price of $41.23 and a two-hundred day moving average price of $41.04.

Turning Point Therapeutics (NASDAQ:TPTX) last posted its earnings results on Monday, November 4th. The company reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.04). As a group, analysts expect that Turning Point Therapeutics will post -3.08 earnings per share for the current fiscal year.

In related news, CFO Yi Larson bought 2,222 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was purchased at an average price of $45.00 per share, for a total transaction of $99,990.00. Also, Director Simeon George bought 177,777 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was bought at an average price of $45.00 per share, with a total value of $7,999,965.00. In the last ninety days, insiders have bought 189,999 shares of company stock worth $8,549,955.

Several large investors have recently bought and sold shares of TPTX. Cormorant Asset Management LP acquired a new position in shares of Turning Point Therapeutics in the second quarter worth $127,080,000. Orbimed Advisors LLC acquired a new position in shares of Turning Point Therapeutics in the second quarter worth $104,499,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Turning Point Therapeutics in the second quarter worth $36,225,000. BlackRock Inc. acquired a new position in shares of Turning Point Therapeutics in the second quarter worth $23,520,000. Finally, Vanguard Group Inc. acquired a new position in shares of Turning Point Therapeutics in the second quarter worth $17,712,000. Institutional investors and hedge funds own 53.82% of the company’s stock.

About Turning Point Therapeutics

Turning Point Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in designing and developing novel small molecule targeted oncology therapies. It develops a pipeline of tyrosine kinase inhibitors (TKIs) that targets genetic drivers of cancer in TKI-naïve and TKI-pretreated patients.

Featured Article: Momentum Investing

Analyst Recommendations for Turning Point Therapeutics (NASDAQ:TPTX)

Leave a Reply

Your email address will not be published. Required fields are marked *