Turning Point Therapeutics (NASDAQ:TPTX) Receives $54.56 Consensus PT from Analysts

Turning Point Therapeutics (NASDAQ:TPTX) has received a consensus rating of “Buy” from the ten research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $54.56.

TPTX has been the topic of a number of recent analyst reports. Wedbush initiated coverage on shares of Turning Point Therapeutics in a research report on Monday, September 9th. They set an “outperform” rating and a $63.00 price target on the stock. Wells Fargo & Co boosted their price target on shares of Turning Point Therapeutics from $53.00 to $62.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. HC Wainwright initiated coverage on shares of Turning Point Therapeutics in a research report on Wednesday, September 25th. They set a “buy” rating and a $70.00 price target on the stock. Zacks Investment Research upgraded shares of Turning Point Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, Canaccord Genuity boosted their price target on shares of Turning Point Therapeutics from $53.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, September 5th.

In other news, CFO Yi Larson purchased 2,222 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were acquired at an average price of $45.00 per share, for a total transaction of $99,990.00. Also, CEO Athena Countouriotis purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were purchased at an average price of $45.00 per share, for a total transaction of $450,000.00. Insiders purchased a total of 189,999 shares of company stock worth $8,549,955 over the last quarter.

Hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC acquired a new stake in shares of Turning Point Therapeutics during the second quarter valued at approximately $25,000. JPMorgan Chase & Co. acquired a new stake in shares of Turning Point Therapeutics during the second quarter valued at approximately $71,000. Wells Fargo & Company MN acquired a new stake in shares of Turning Point Therapeutics during the second quarter valued at approximately $72,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Turning Point Therapeutics during the second quarter valued at approximately $90,000. Finally, Alpine Woods Capital Investors LLC acquired a new stake in shares of Turning Point Therapeutics during the second quarter valued at approximately $204,000. Institutional investors and hedge funds own 58.17% of the company’s stock.

Turning Point Therapeutics stock traded up $0.01 during midday trading on Thursday, reaching $36.89. 169,028 shares of the stock traded hands, compared to its average volume of 324,354. The company has a quick ratio of 32.35, a current ratio of 32.35 and a debt-to-equity ratio of 0.01. The stock has a fifty day moving average price of $43.65. Turning Point Therapeutics has a fifty-two week low of $24.21 and a fifty-two week high of $58.56.

Turning Point Therapeutics (NASDAQ:TPTX) last posted its earnings results on Tuesday, August 6th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.05). Research analysts expect that Turning Point Therapeutics will post -2.93 earnings per share for the current year.

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.

Further Reading: Initial Coin Offerings entail a high degree of risk

Analyst Recommendations for Turning Point Therapeutics (NASDAQ:TPTX)

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