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

Turning Point Therapeutics (NASDAQ:TPTX) has received an average recommendation of “Buy” from the ten ratings firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $54.56.

Several equities research analysts have recently weighed in on TPTX shares. Guggenheim started coverage on shares of Turning Point Therapeutics in a report on Wednesday, July 24th. They issued a “buy” rating and a $58.00 target price on the stock. Wedbush started coverage on shares of Turning Point Therapeutics in a report on Monday, September 9th. They issued an “outperform” rating and a $63.00 target price on the stock. Zacks Investment Research raised shares of Turning Point Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday. HC Wainwright started coverage on shares of Turning Point Therapeutics in a report on Wednesday, September 25th. They issued a “buy” rating and a $70.00 target price on the stock. Finally, Wells Fargo & Co upped their target price on shares of Turning Point Therapeutics from $53.00 to $62.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th.

In other news, CFO Yi Larson bought 2,222 shares of the stock in a transaction dated Tuesday, September 10th. The shares were acquired at an average price of $45.00 per share, with a total value of $99,990.00. Also, CEO Athena Countouriotis bought 10,000 shares of the stock in a transaction dated Tuesday, September 10th. The stock was purchased at an average cost of $45.00 per share, for a total transaction of $450,000.00. In the last ninety days, insiders bought 189,999 shares of company stock worth $8,549,955.

A number of large investors have recently modified their holdings of TPTX. Alpine Woods Capital Investors LLC bought a new stake in Turning Point Therapeutics during the 2nd quarter worth about $204,000. Wells Fargo & Company MN bought a new stake in Turning Point Therapeutics during the 2nd quarter worth about $72,000. JPMorgan Chase & Co. bought a new stake in Turning Point Therapeutics during the 2nd quarter worth about $71,000. Allianz Asset Management GmbH bought a new stake in Turning Point Therapeutics during the 2nd quarter worth about $531,000. Finally, Artal Group S.A. bought a new stake in Turning Point Therapeutics during the 2nd quarter worth about $8,140,000. 58.17% of the stock is currently owned by hedge funds and other institutional investors.

Shares of TPTX stock traded up $0.01 during mid-day trading on Thursday, reaching $36.89. The company’s stock had a trading volume of 169,028 shares, compared to its average volume of 324,354. Turning Point Therapeutics has a 1-year low of $24.21 and a 1-year high of $58.56. The company has a debt-to-equity ratio of 0.01, a quick ratio of 32.35 and a current ratio of 32.35. The firm’s 50-day moving average is $43.65.

Turning Point Therapeutics (NASDAQ:TPTX) last announced its quarterly earnings data 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). On average, sell-side analysts predict 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.

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Analyst Recommendations for Turning Point Therapeutics (NASDAQ:TPTX)

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