Turning Point Therapeutics, Inc. (NASDAQ:TPTX – Get Rating) has received an average rating of "Hold" from the twelve brokerages that are covering the stock, Marketbeat reports. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $78.22.
Several research firms have recently commented on TPTX. SVB Leerink lowered Turning Point Therapeutics from an "outperform" rating to a "market perform" rating and reduced their price objective for the stock from $101.00 to $76.00 in a research note on Monday, June 13th. Guggenheim set a $76.00 target price on shares of Turning Point Therapeutics in a report on Monday, June 20th. Cowen downgraded shares of Turning Point Therapeutics from an "outperform" rating to a "market perform" rating in a report on Monday, June 6th. Wells Fargo & Company downgraded shares of Turning Point Therapeutics from an "overweight" rating to an "equal weight" rating and set a $76.00 target price for the company. in a report on Friday, June 3rd. Finally, Cowen downgraded shares of Turning Point Therapeutics from an "outperform" rating to a "market perform" rating in a report on Monday, June 6th.
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Insider Buying and Selling at Turning Point Therapeutics
In other Turning Point Therapeutics news, CFO Paolo Tombesi sold 1,183 shares of the stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $74.94, for a total transaction of $88,654.02. Following the completion of the transaction, the chief financial officer now owns 28,700 shares of the company's stock, valued at approximately $2,150,778. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.60% of the company's stock.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the business. Congress Asset Management Co. MA raised its position in Turning Point Therapeutics by 0.4% in the 2nd quarter. Congress Asset Management Co. MA now owns 70,100 shares of the company's stock worth $5,275,000 after purchasing an additional 308 shares during the period. Teacher Retirement System of Texas raised its position in Turning Point Therapeutics by 5.7% in the 1st quarter. Teacher Retirement System of Texas now owns 8,498 shares of the company's stock worth $228,000 after purchasing an additional 461 shares during the period. DekaBank Deutsche Girozentrale raised its position in Turning Point Therapeutics by 2.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 17,350 shares of the company's stock worth $468,000 after purchasing an additional 480 shares during the period. Guggenheim Capital LLC raised its position in Turning Point Therapeutics by 4.3% in the 1st quarter. Guggenheim Capital LLC now owns 12,307 shares of the company's stock worth $330,000 after purchasing an additional 504 shares during the period. Finally, US Bancorp DE raised its position in Turning Point Therapeutics by 44.2% in the 2nd quarter. US Bancorp DE now owns 1,648 shares of the company's stock worth $124,000 after purchasing an additional 505 shares during the period. Institutional investors own 90.33% of the company's stock.
Turning Point Therapeutics Trading Up 0.7 %
Shares of TPTX opened at $76.01 on Monday. The firm has a market cap of $3.81 billion, a PE ratio of -11.02 and a beta of -0.18. Turning Point Therapeutics has a 1-year low of $23.77 and a 1-year high of $82.20. The firm has a fifty day simple moving average of $75.49 and a two-hundred day simple moving average of $54.27.
Turning Point Therapeutics (NASDAQ:TPTX – Get Rating) last posted its quarterly earnings data on Monday, August 8th. The company reported ($2.48) EPS for the quarter, missing the consensus estimate of ($1.78) by ($0.70). The firm had revenue of $0.12 million during the quarter, compared to analysts' expectations of $2.27 million. Turning Point Therapeutics's quarterly revenue was down 97.7% compared to the same quarter last year. During the same period last year, the business earned ($1.14) EPS. As a group, research analysts forecast that Turning Point Therapeutics will post -7.69 EPS for the current fiscal year.
Turning Point Therapeutics Company Profile
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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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