Turning Point Therapeutics, Inc. (NASDAQ:TPTX) Given Average Recommendation of “Buy” by Analysts

Turning Point Therapeutics, Inc. (NASDAQ:TPTXGet Rating) has been given an average recommendation of “Buy” by the ten brokerages that are presently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $94.00.

A number of analysts recently weighed in on the company. Wells Fargo & Company dropped their target price on Turning Point Therapeutics from $120.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, February 10th. HC Wainwright decreased their price target on Turning Point Therapeutics from $162.00 to $161.00 and set a “buy” rating on the stock in a research note on Tuesday, March 22nd. Oppenheimer decreased their price target on Turning Point Therapeutics from $115.00 to $105.00 and set an “outperform” rating on the stock in a research note on Friday, January 21st. Stifel Nicolaus decreased their price target on Turning Point Therapeutics from $50.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, March 1st. Finally, Wedbush decreased their price target on Turning Point Therapeutics from $93.00 to $61.00 in a research note on Wednesday, May 11th.

Several institutional investors and hedge funds have recently bought and sold shares of TPTX. State Street Corp increased its stake in shares of Turning Point Therapeutics by 37.2% during the first quarter. State Street Corp now owns 3,119,926 shares of the company’s stock valued at $83,770,000 after buying an additional 845,408 shares during the period. Alliancebernstein L.P. increased its stake in shares of Turning Point Therapeutics by 60.4% during the fourth quarter. Alliancebernstein L.P. now owns 2,009,191 shares of the company’s stock valued at $95,838,000 after buying an additional 756,418 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of Turning Point Therapeutics during the fourth quarter valued at approximately $27,220,000. Boxer Capital LLC purchased a new position in shares of Turning Point Therapeutics during the third quarter valued at approximately $34,876,000. Finally, Pictet Asset Management SA increased its stake in shares of Turning Point Therapeutics by 42.1% during the fourth quarter. Pictet Asset Management SA now owns 1,678,893 shares of the company’s stock valued at $80,083,000 after buying an additional 497,071 shares during the period. 90.33% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:TPTX opened at $32.48 on Tuesday. The business has a 50 day moving average of $29.10 and a 200 day moving average of $35.69. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of -5.84 and a beta of 0.86. Turning Point Therapeutics has a 1-year low of $23.77 and a 1-year high of $83.06.

Turning Point Therapeutics (NASDAQ:TPTXGet Rating) last released its earnings results on Tuesday, May 10th. The company reported ($1.50) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.51) by $0.01. The firm had revenue of $0.40 million during the quarter. Turning Point Therapeutics’s revenue was down 98.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.73) EPS. On average, research analysts anticipate that Turning Point Therapeutics will post -6.85 EPS for the current fiscal year.

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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Analyst Recommendations for Turning Point Therapeutics (NASDAQ:TPTX)

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