TPTX has been the topic of a number of other reports. Wells Fargo & Co upped their price target on Turning Point Therapeutics from $62.00 to $76.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. Roth Capital boosted their price target on shares of Turning Point Therapeutics from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Zacks Investment Research lowered shares of Turning Point Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Oppenheimer assumed coverage on shares of Turning Point Therapeutics in a research note on Thursday, July 9th. They set an “outperform” rating and a $90.00 target price on the stock. Finally, SVB Leerink increased their target price on shares of Turning Point Therapeutics from $60.00 to $67.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $70.50.
NASDAQ:TPTX opened at $59.23 on Friday. The company’s 50-day moving average is $63.34 and its two-hundred day moving average is $56.18. Turning Point Therapeutics has a 1-year low of $31.30 and a 1-year high of $72.03. The company has a debt-to-equity ratio of 0.01, a current ratio of 34.91 and a quick ratio of 34.91. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of -16.45 and a beta of 1.39.
Turning Point Therapeutics (NASDAQ:TPTX) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($1.69) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.66) by ($1.03). As a group, equities analysts anticipate that Turning Point Therapeutics will post -4.47 earnings per share for the current fiscal year.
In related news, CEO Athena Countouriotis acquired 4,166 shares of Turning Point Therapeutics stock in a transaction dated Thursday, May 21st. The stock was acquired at an average price of $60.00 per share, for a total transaction of $249,960.00. Following the transaction, the chief executive officer now owns 26,872 shares of the company’s stock, valued at $1,612,320. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jingrong Jean Cui sold 18,500 shares of the company’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $63.45, for a total transaction of $1,173,825.00. Following the completion of the transaction, the director now owns 1,001,298 shares of the company’s stock, valued at approximately $63,532,358.10. The disclosure for this sale can be found here. Insiders have sold a total of 88,000 shares of company stock valued at $5,171,565 over the last ninety days. 23.20% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. acquired a new position in Turning Point Therapeutics in the first quarter valued at $114,000. SG Americas Securities LLC increased its position in Turning Point Therapeutics by 70.7% in the 1st quarter. SG Americas Securities LLC now owns 6,456 shares of the company’s stock valued at $288,000 after acquiring an additional 2,674 shares during the period. Chartwell Investment Partners LLC purchased a new stake in Turning Point Therapeutics during the 1st quarter valued at approximately $368,000. Jane Street Group LLC acquired a new stake in Turning Point Therapeutics during the 4th quarter worth approximately $416,000. Finally, GSA Capital Partners LLP grew its stake in shares of Turning Point Therapeutics by 178.5% in the 1st quarter. GSA Capital Partners LLP now owns 9,319 shares of the company’s stock valued at $416,000 after purchasing an additional 5,973 shares during the last quarter. Institutional investors own 81.58% 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.
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