Turning Point Therapeutics (NASDAQ:TPTX – Get Rating) announced its quarterly earnings data on Monday. The company reported ($2.48) earnings per share for the quarter, missing the consensus estimate of ($1.70) by ($0.78), Briefing.com reports. The business had revenue of $0.12 million during the quarter, compared to analysts' expectations of $2.27 million. During the same period in the prior year, the firm earned ($1.14) EPS. The business's revenue was down 97.7% on a year-over-year basis.
Turning Point Therapeutics Stock Up 0.1 %
Turning Point Therapeutics stock opened at $75.06 on Tuesday. Turning Point Therapeutics has a one year low of $23.77 and a one year high of $82.20. The business's fifty day moving average is $72.49 and its 200 day moving average is $45.76.
Get Turning Point Therapeutics alerts:Wall Street Analyst Weigh In
Several brokerages have weighed in on TPTX. The Goldman Sachs Group lowered their price objective on Turning Point Therapeutics from $143.00 to $116.00 and set a "buy" rating for the company in a research report on Tuesday, May 24th. SVB Leerink downgraded Turning Point Therapeutics from an "outperform" rating to a "market perform" rating and decreased their target price for the company from $101.00 to $76.00 in a report on Monday, June 13th. Wells Fargo & Company downgraded 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. Cowen downgraded Turning Point Therapeutics from an "outperform" rating to a "market perform" rating in a report on Monday, June 6th. Finally, Wedbush cut Turning Point Therapeutics from an "outperform" rating to a "neutral" rating and upped their price target for the stock from $61.00 to $76.00 in a research note on Friday, June 3rd. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $78.22.
Insider Activity at Turning Point Therapeutics
In related news, CFO Paolo Tombesi sold 1,183 shares of the stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $74.94, for a total transaction of $88,654.02. Following the sale, the chief financial officer now directly owns 28,700 shares of the company's stock, valued at $2,150,778. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 8.60% of the stock is currently owned by insiders.Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the company. Captrust Financial Advisors boosted its position in Turning Point Therapeutics by 176.5% in the first quarter. Captrust Financial Advisors now owns 1,045 shares of the company's stock worth $28,000 after purchasing an additional 667 shares during the last quarter. US Bancorp DE boosted its position in Turning Point Therapeutics by 139.6% in the first quarter. US Bancorp DE now owns 1,143 shares of the company's stock worth $31,000 after purchasing an additional 666 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Turning Point Therapeutics during the 1st quarter valued at about $96,000. PNC Financial Services Group Inc. lifted its position in shares of Turning Point Therapeutics by 11.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,546 shares of the company's stock valued at $230,000 after buying an additional 888 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Turning Point Therapeutics during the 1st quarter valued at about $237,000. 90.33% of the stock is owned by hedge funds and other institutional investors.
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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