Turning Point Therapeutics, Inc. (NASDAQ:TPTX – Get Rating) – SVB Leerink reduced their Q3 2022 EPS estimates for Turning Point Therapeutics in a research report issued to clients and investors on Monday, August 8th. SVB Leerink analyst A. Berens now anticipates that the company will earn ($2.19) per share for the quarter, down from their previous estimate of ($1.78). SVB Leerink has a "Market Perform" rating and a $76.00 price objective on the stock. The consensus estimate for Turning Point Therapeutics' current full-year earnings is ($6.85) per share. SVB Leerink also issued estimates for Turning Point Therapeutics' Q4 2022 earnings at ($2.24) EPS, FY2022 earnings at ($8.42) EPS, FY2023 earnings at ($9.38) EPS, FY2024 earnings at ($5.84) EPS, FY2025 earnings at $1.56 EPS and FY2026 earnings at $12.31 EPS.
Get Turning Point Therapeutics alerts:Turning Point Therapeutics (NASDAQ:TPTX – Get Rating) last issued its earnings results on Monday, August 8th. The company reported ($2.48) earnings per share for the quarter, missing the consensus estimate of ($1.70) by ($0.78). The business had revenue of $0.12 million for the quarter, compared to the consensus estimate of $2.27 million. During the same quarter in the prior year, the firm earned ($1.14) EPS. The company's revenue for the quarter was down 97.7% compared to the same quarter last year.
Several other brokerages also recently issued reports on TPTX. Wedbush downgraded shares of Turning Point Therapeutics from an "outperform" rating to a "neutral" rating and upped their price target for the company from $61.00 to $76.00 in a report on Friday, June 3rd. Cowen downgraded shares of Turning Point Therapeutics from an "outperform" rating to a "market perform" rating in a report on Monday, June 6th. Guggenheim set a $76.00 price target on shares of Turning Point Therapeutics in a report on Monday, June 20th. The Goldman Sachs Group reduced their price target on shares of Turning Point Therapeutics from $143.00 to $116.00 and set a "buy" rating on the stock in a report on Tuesday, May 24th. Finally, Wells Fargo & Company downgraded shares of Turning Point Therapeutics from an "overweight" rating to an "equal weight" rating and set a $76.00 price target on the stock. in a report on Friday, June 3rd. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $78.22.Turning Point Therapeutics Price Performance
Shares of NASDAQ TPTX opened at $75.00 on Thursday. Turning Point Therapeutics has a 12-month low of $23.77 and a 12-month high of $82.20. The company has a market capitalization of $3.72 billion, a PE ratio of -10.87 and a beta of -0.18. The firm's 50-day moving average is $74.94 and its two-hundred day moving average is $46.41.
Insider Activity at Turning Point Therapeutics
In related news, CFO Paolo Tombesi sold 1,183 shares of the company's stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $74.94, for a total transaction of $88,654.02. Following the transaction, the chief financial officer now owns 28,700 shares of the company's stock, valued at $2,150,778. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.60% of the company's stock.
Hedge Funds Weigh In On Turning Point Therapeutics
A number of large investors have recently bought and sold shares of TPTX. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Turning Point Therapeutics by 35.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,692 shares of the company's stock worth $319,000 after purchasing an additional 1,744 shares during the period. DekaBank Deutsche Girozentrale raised its stake in Turning Point Therapeutics by 2.4% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 16,870 shares of the company's stock worth $789,000 after purchasing an additional 400 shares during the period. Duality Advisers LP purchased a new position in Turning Point Therapeutics during the fourth quarter worth approximately $1,451,000. Nisa Investment Advisors LLC raised its stake in Turning Point Therapeutics by 489.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 13,850 shares of the company's stock worth $516,000 after purchasing an additional 11,500 shares during the period. Finally, Virginia Retirement Systems ET AL raised its stake in Turning Point Therapeutics by 5.4% during the fourth quarter. Virginia Retirement Systems ET AL now owns 11,700 shares of the company's stock worth $558,000 after purchasing an additional 600 shares during the period. Hedge funds and other institutional investors 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.
See Also
- Get a free copy of the StockNews.com research report on Turning Point Therapeutics (TPTX)
- Look at Honeywell for a Steady and Diversified Stock
- Why Invest in High-Yield Dividend Stocks?
- Find and Profitably Trade Stocks at 52-Week Lows
- Disney (NYSE: DIS) Shares Just Gave Investors A Massive Signal
- Solar Stocks Shine Brightly After Passage Of Clean Energy Bill
Receive News & Ratings for Turning Point Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Turning Point Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.