Turning Point Therapeutics (NASDAQ:TPTX) Rating Reiterated by HC Wainwright

Turning Point Therapeutics (NASDAQ:TPTX)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a report released on Tuesday, AnalystRatings.com reports. They presently have a $70.00 target price on the stock. HC Wainwright’s price target suggests a potential upside of 37.58% from the stock’s current price.

Several other research firms have also weighed in on TPTX. Wells Fargo & Co lifted their price target on Turning Point Therapeutics from $53.00 to $62.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Zacks Investment Research upgraded Turning Point Therapeutics from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research report on Friday, November 8th. Canaccord Genuity lifted their price target on Turning Point Therapeutics from $53.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday, September 5th. Wedbush initiated coverage on Turning Point Therapeutics in a research report on Monday, September 9th. They set an “outperform” rating and a $63.00 price target on the stock. Finally, Guggenheim initiated coverage on Turning Point Therapeutics in a research report on Wednesday, July 24th. They set a “buy” rating and a $58.00 price target on the stock. Eleven analysts have rated the stock with a buy rating, Turning Point Therapeutics currently has a consensus rating of “Buy” and an average target price of $55.00.

Shares of NASDAQ TPTX traded up $1.48 during trading hours on Tuesday, reaching $50.88. 526,900 shares of the stock traded hands, compared to its average volume of 323,604. 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 has a 52-week low of $24.21 and a 52-week high of $58.56. The company’s 50-day simple moving average is $39.25 and its two-hundred day simple moving average is $40.40.

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

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In related news, CFO Yi Larson bought 2,222 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were acquired at an average cost of $45.00 per share, with a total value of $99,990.00. Also, CEO Athena Countouriotis bought 10,000 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was bought at an average cost of $45.00 per share, for a total transaction of $450,000.00. Insiders acquired 189,999 shares of company stock worth $8,549,955 over the last three months.

A number of institutional investors have recently added to or reduced their stakes in TPTX. Matthews International Capital Management LLC purchased a new position in shares of Turning Point Therapeutics in the third quarter worth $4,437,000. Tower Research Capital LLC TRC raised its stake in shares of Turning Point Therapeutics by 155.4% in the third quarter. Tower Research Capital LLC TRC now owns 1,548 shares of the company’s stock worth $58,000 after purchasing an additional 942 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Turning Point Therapeutics in the third quarter worth $1,464,000. FNY Investment Advisers LLC purchased a new position in shares of Turning Point Therapeutics in the third quarter worth $118,000. Finally, Rhumbline Advisers raised its stake in shares of Turning Point Therapeutics by 15.7% in the third quarter. Rhumbline Advisers now owns 6,729 shares of the company’s stock worth $253,000 after purchasing an additional 911 shares during the last quarter. 51.31% of the stock is currently owned by institutional investors and hedge funds.

About Turning Point Therapeutics

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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