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

Turning Point Therapeutics, Inc. (NASDAQ:TPTX – Get Rating) has been assigned a consensus rating of “Buy” from the ten analysts that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $94.00.

A number of brokerages recently commented on TPTX. Oppenheimer lowered 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 note on Friday, January 21st. Zacks Investment Research upgraded shares of Turning Point Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, May 11th. Stifel Nicolaus reduced their target price on shares of Turning Point Therapeutics from $50.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, March 1st. SVB Leerink restated an “outperform” rating on shares of Turning Point Therapeutics in a report on Tuesday, February 8th. Finally, HC Wainwright reduced their target price on shares of Turning Point Therapeutics from $162.00 to $161.00 and set a “buy” rating on the stock in a report on Tuesday, March 22nd.

Shares of NASDAQ TPTX opened at $32.48 on Tuesday. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of -5.84 and a beta of 0.86. Turning Point Therapeutics has a 52 week low of $23.77 and a 52 week high of $83.06. The company’s 50-day moving average price is $29.10 and its 200 day moving average price is $35.69.

Turning Point Therapeutics (NASDAQ:TPTX – Get Rating) last issued its quarterly earnings data on Tuesday, May 10th. The company reported ($1.50) EPS for the quarter, beating analysts’ consensus estimates of ($1.51) by $0.01. The business had revenue of $0.40 million during the quarter. The company’s revenue was down 98.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.73) earnings per share. On average, analysts predict that Turning Point Therapeutics will post -6.85 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in TPTX. Morgan Stanley lifted its holdings 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 worth $4,204,000 after acquiring an additional 46,909 shares during the period. Swiss National Bank lifted its holdings 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 worth $6,131,000 after acquiring an additional 2,000 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings 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 worth $1,305,000 after acquiring an additional 510 shares during the period. Barclays PLC increased its position in Turning Point Therapeutics by 192.4% during the 3rd quarter. Barclays PLC now owns 20,358 shares of the company’s stock worth $1,352,000 after purchasing an additional 13,395 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its position in Turning Point Therapeutics by 25.0% during the 3rd quarter. Teacher Retirement System of Texas now owns 6,591 shares of the company’s stock worth $438,000 after purchasing an additional 1,319 shares in the last quarter. Institutional investors and hedge funds own 90.33% of the company’s stock.

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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