Zacks: Brokerages Expect Turning Point Therapeutics, Inc. (NASDAQ:TPTX) Will Announce Earnings of -$1.45 Per Share

Analysts expect Turning Point Therapeutics, Inc. (NASDAQ:TPTX – Get Rating) to post ($1.45) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Turning Point Therapeutics’ earnings, with estimates ranging from ($1.72) to ($0.67). Turning Point Therapeutics posted earnings of ($0.73) per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 98.6%. The firm is expected to announce its next earnings results on Monday, January 1st.

On average, analysts expect that Turning Point Therapeutics will report full year earnings of ($6.74) per share for the current fiscal year, with EPS estimates ranging from ($7.69) to ($5.49). For the next fiscal year, analysts forecast that the firm will report earnings of ($7.30) per share, with EPS estimates ranging from ($8.48) to ($4.44). Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that that provide coverage for Turning Point Therapeutics.

Turning Point Therapeutics (NASDAQ:TPTX – Get Rating) last issued its earnings results on Monday, February 28th. The company reported ($1.58) EPS for the quarter, missing the consensus estimate of ($1.40) by ($0.18).

Several equities research analysts recently commented on TPTX shares. SVB Leerink reiterated an “outperform” rating on shares of Turning Point Therapeutics in a research report on Tuesday, February 8th. HC Wainwright decreased their price objective on shares of Turning Point Therapeutics from $162.00 to $161.00 and set a “buy” rating on the stock in a research report on Tuesday, March 22nd. Stifel Nicolaus decreased their price objective on shares of Turning Point Therapeutics from $50.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday, March 1st. Oppenheimer decreased their price objective on shares of Turning Point Therapeutics from $115.00 to $105.00 and set an “outperform” rating on the stock in a research report on Friday, January 21st. Finally, Zacks Investment Research lowered shares of Turning Point Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Turning Point Therapeutics has an average rating of “Buy” and a consensus target price of $96.00.

In related news, CEO Athena Countouriotis sold 2,971 shares of the business’s stock in a transaction dated Wednesday, February 9th. The shares were sold at an average price of $36.30, for a total value of $107,847.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 7.30% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of TPTX. Morgan Stanley increased its stake in shares of Turning Point Therapeutics by 672.7% during the 2nd quarter. Morgan Stanley now owns 53,882 shares of the company’s stock valued at $4,204,000 after acquiring an additional 46,909 shares during the last quarter. Deutsche Bank AG increased its stake in shares of Turning Point Therapeutics by 9.9% during the 3rd quarter. Deutsche Bank AG now owns 88,866 shares of the company’s stock valued at $5,903,000 after acquiring an additional 7,997 shares during the last quarter. Swiss National Bank increased its stake in shares of Turning Point Therapeutics by 2.2% during the 3rd quarter. Swiss National Bank now owns 92,300 shares of the company’s stock valued at $6,131,000 after acquiring an additional 2,000 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in shares of Turning Point Therapeutics by 2.7% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 19,643 shares of the company’s stock valued at $1,305,000 after acquiring an additional 510 shares during the last quarter. Finally, TD Asset Management Inc. increased its stake in shares of Turning Point Therapeutics by 11.0% during the 3rd quarter. TD Asset Management Inc. now owns 56,609 shares of the company’s stock valued at $3,761,000 after acquiring an additional 5,600 shares during the last quarter. 90.33% of the stock is owned by institutional investors.

Shares of NASDAQ TPTX opened at $26.80 on Friday. The firm has a market capitalization of $1.33 billion, a P/E ratio of -5.59 and a beta of 0.86. Turning Point Therapeutics has a one year low of $23.77 and a one year high of $83.06. The company’s fifty day moving average is $29.01 and its two-hundred day moving average is $36.32.

About Turning Point Therapeutics (Get Rating)

Turning Point Therapeutics, Inc, a clinical-stage precision oncology biopharmaceutical company, engages in designing and developing therapies that target genetic drivers of cancer. 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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