Turning Point Therapeutics’ (TPTX) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Turning Point Therapeutics (NASDAQ:TPTX) in a research note issued to investors on Tuesday, AnalystRatings.com reports. The brokerage currently has a $70.00 price target on the stock.

TPTX has been the subject of several other research reports. Wells Fargo & Co increased their price target on Turning Point Therapeutics from $53.00 to $62.00 and gave the stock an outperform rating in a research note on Wednesday, September 4th. Guggenheim assumed coverage on Turning Point Therapeutics in a research note on Wednesday, July 24th. They issued a buy rating and a $58.00 price target for the company. Wedbush assumed coverage on Turning Point Therapeutics in a research note on Monday, September 9th. They issued an outperform rating and a $63.00 price target for the company. Canaccord Genuity increased their price target 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. Finally, Zacks Investment Research raised Turning Point Therapeutics from a hold rating to a buy rating and set a $49.00 price target for the company in a research note on Friday, November 8th. Eleven investment analysts have rated the stock with a buy rating, The company presently has an average rating of Buy and a consensus price target of $55.00.

Shares of TPTX traded up $1.48 during trading on Tuesday, reaching $50.88. The company’s stock had a trading volume of 526,900 shares, compared to its average volume of 323,604. Turning Point Therapeutics has a twelve month low of $24.21 and a twelve month high of $58.56. The company has a fifty day moving average of $39.25 and a two-hundred day moving average of $40.40. The company has a debt-to-equity ratio of 0.01, a quick ratio of 36.64 and a current ratio of 36.64.

Turning Point Therapeutics (NASDAQ:TPTX) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.59) by ($0.04). Analysts forecast that Turning Point Therapeutics will post -3.05 EPS for the current fiscal year.

In other news, CEO Athena Countouriotis acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was acquired at an average price of $45.00 per share, for a total transaction of $450,000.00. Also, CFO Yi Larson acquired 2,222 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was purchased at an average price of $45.00 per share, with a total value of $99,990.00. In the last 90 days, insiders bought 189,999 shares of company stock valued at $8,549,955.

Several institutional investors have recently made changes to their positions in TPTX. Cormorant Asset Management LP acquired a new stake in shares of Turning Point Therapeutics in the second quarter valued at $127,080,000. Orbimed Advisors LLC acquired a new stake in shares of Turning Point Therapeutics in the second quarter valued at $104,499,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Turning Point Therapeutics during the second quarter valued at $36,225,000. BlackRock Inc. purchased a new stake in shares of Turning Point Therapeutics during the second quarter valued at $23,520,000. Finally, Vanguard Group Inc. purchased a new stake in shares of Turning Point Therapeutics during the second quarter valued at $17,712,000. Institutional investors and hedge funds own 51.31% of the company’s stock.

Turning Point Therapeutics Company Profile

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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