Recent Analysts’ Ratings Updates for Turning Point Therapeutics (TPTX)

A number of research firms have changed their ratings and price targets for Turning Point Therapeutics (NASDAQ: TPTX):

• 6/6/2022 – Turning Point Therapeutics was downgraded by analysts at HC Wainwright from a “buy” rating to a “neutral” rating. They now have a $76.00 price target on the stock, down previously from $161.00.
• 6/6/2022 – Turning Point Therapeutics was downgraded by analysts at Cowen Inc. from an “outperform” rating to a “market perform” rating.
• 6/6/2022 – Turning Point Therapeutics was downgraded by analysts at Cowen Inc from an “outperform” rating to a “market perform” rating.
• 6/3/2022 – Turning Point Therapeutics was downgraded by analysts at Wedbush from an “outperform” rating to a “neutral” rating. They now have a $76.00 price target on the stock, up previously from $61.00.
• 6/3/2022 – Turning Point Therapeutics was downgraded by analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating. They now have a $76.00 price target on the stock.
• 5/24/2022 – Turning Point Therapeutics had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $143.00 to $116.00. They now have a “buy” rating on the stock.
• 5/20/2022 – Turning Point Therapeutics is now covered by analysts at Bank of America Co.. They set a “buy” rating and a $58.00 price target on the stock.
• 5/11/2022 – Turning Point Therapeutics was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Turning Point Therapeutics is a clinical-stage biopharmaceutical company designing and developing novel small molecule, targeted oncology therapies to address key limitations of existing therapies and improve the lives of patients. Their internally developed and wholly owned pipeline of next-generation tyrosine kinase inhibitors (TKIs) targets numerous genetic drivers of cancer in both TKI-naïve and TKI-pretreated patients. The pervasive challenges of intrinsic and acquired treatment resistance often limit the response rate and durability of existing therapies. One of these challenges is the emergence of solvent front mutations, which are a common cause of acquired resistance to currently approved therapies for ROS1, TRK and ALK kinases. They have developed a macrocycle platform enabling us to design proprietary small, compact TKIs with rigid three-dimensional structures that potentially bind to their targets with greater precision and affinity than other kinase inhibitors. “
• 5/11/2022 – Turning Point Therapeutics had its price target lowered by analysts at Wedbush from $93.00 to $61.00.
• 5/4/2022 – Turning Point Therapeutics was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Turning Point Therapeutics is a clinical-stage biopharmaceutical company designing and developing novel small molecule, targeted oncology therapies to address key limitations of existing therapies and improve the lives of patients. Their internally developed and wholly owned pipeline of next-generation tyrosine kinase inhibitors (TKIs) targets numerous genetic drivers of cancer in both TKI-naïve and TKI-pretreated patients. The pervasive challenges of intrinsic and acquired treatment resistance often limit the response rate and durability of existing therapies. One of these challenges is the emergence of solvent front mutations, which are a common cause of acquired resistance to currently approved therapies for ROS1, TRK and ALK kinases. They have developed a macrocycle platform enabling us to design proprietary small, compact TKIs with rigid three-dimensional structures that potentially bind to their targets with greater precision and affinity than other kinase inhibitors. “

Shares of NASDAQ TPTX remained flat at $$74.75 during midday trading on Tuesday. 5,668,409 shares of the stock traded hands, compared to its average volume of 968,607. The company’s 50-day moving average price is $33.61 and its two-hundred day moving average price is $35.60. Turning Point Therapeutics, Inc. has a twelve month low of $23.77 and a twelve month high of $83.06. The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of -13.44 and a beta of 0.84.

Turning Point Therapeutics (NASDAQ:TPTX – Get Rating) last issued its quarterly earnings data on Tuesday, May 10th. The company reported ($1.50) earnings per share for the quarter, missing the consensus estimate of ($1.45) by ($0.05). The firm had revenue of $0.40 million for the quarter. The firm’s revenue was down 98.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.73) earnings per share. Sell-side analysts predict that Turning Point Therapeutics, Inc. will post -6.68 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. ProShare Advisors LLC increased its stake in shares of Turning Point Therapeutics by 3.4% during the 4th quarter. ProShare Advisors LLC now owns 17,010 shares of the company’s stock valued at $810,000 after acquiring an additional 560 shares during the last quarter. Citigroup Inc. increased its stake in shares of Turning Point Therapeutics by 225.0% during the 4th quarter. Citigroup Inc. now owns 113,403 shares of the company’s stock valued at $5,409,000 after acquiring an additional 78,514 shares during the last quarter. AXA S.A. increased its stake in shares of Turning Point Therapeutics by 3.8% during the 3rd quarter. AXA S.A. now owns 100,598 shares of the company’s stock valued at $6,683,000 after acquiring an additional 3,702 shares during the last quarter. Segall Bryant & Hamill LLC increased its position in Turning Point Therapeutics by 2.3% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 52,975 shares of the company’s stock worth $3,519,000 after purchasing an additional 1,212 shares in the last quarter. Finally, Pictet Asset Management SA increased its position in Turning Point Therapeutics by 42.1% during the 4th quarter. Pictet Asset Management SA now owns 1,678,893 shares of the company’s stock worth $80,083,000 after purchasing an additional 497,071 shares in the last quarter. Institutional investors and hedge funds own 90.33% of the company’s stock.

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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