Turning Point Therapeutics, Inc. (NASDAQ:TPTX) Given Consensus Rating of “Hold” by Brokerages

Turning Point Therapeutics, Inc. (NASDAQ:TPTXGet Rating) has been assigned a consensus rating of “Hold” from the twelve analysts that are covering the stock, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $78.22.

TPTX has been the topic of a number of recent research reports. Wedbush lowered shares of Turning Point Therapeutics from an “outperform” rating to a “neutral” rating and boosted their price target for the stock from $61.00 to $76.00 in a research report on Friday, June 3rd. Cowen lowered shares of Turning Point Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Monday, June 6th. Cowen lowered shares of Turning Point Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Monday, June 6th. Guggenheim set a $76.00 target price on shares of Turning Point Therapeutics in a report on Monday, June 20th. Finally, Wells Fargo & Company lowered shares of Turning Point Therapeutics from an “overweight” rating to an “equal weight” rating and set a $76.00 target price on the stock. in a report on Friday, June 3rd.

Insider Activity

In other news, CFO Paolo Tombesi sold 1,183 shares of the business’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 value of $88,654.02. Following the sale, the chief financial officer now directly 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 is available through this hyperlink. Insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Turning Point Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Verition Fund Management LLC purchased a new stake in Turning Point Therapeutics during the 2nd quarter worth approximately $296,000. Prelude Capital Management LLC purchased a new stake in Turning Point Therapeutics during the 2nd quarter worth approximately $5,195,000. Legal & General Group Plc increased its stake in Turning Point Therapeutics by 10.6% during the 2nd quarter. Legal & General Group Plc now owns 40,898 shares of the company’s stock worth $3,078,000 after buying an additional 3,919 shares during the period. ExodusPoint Capital Management LP purchased a new stake in Turning Point Therapeutics during the 2nd quarter worth approximately $229,000. Finally, Walleye Capital LLC increased its stake in Turning Point Therapeutics by 12.0% during the 2nd quarter. Walleye Capital LLC now owns 25,258 shares of the company’s stock worth $1,901,000 after buying an additional 2,702 shares during the period. 90.33% of the stock is owned by hedge funds and other institutional investors.

Turning Point Therapeutics Stock Up 0.7 %

TPTX stock opened at $76.01 on Monday. The stock has a market capitalization of $3.81 billion, a P/E ratio of -11.02 and a beta of -0.18. The firm has a 50-day simple moving average of $75.49 and a 200-day simple moving average of $54.27. Turning Point Therapeutics has a 52 week low of $23.77 and a 52 week high of $82.20.

Turning Point Therapeutics (NASDAQ:TPTXGet Rating) last posted its quarterly earnings results on Monday, August 8th. The company reported ($2.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.78) by ($0.70). The company had revenue of $0.12 million for the quarter, compared to analysts’ expectations of $2.27 million. The company’s revenue was down 97.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.14) EPS. On average, analysts expect that Turning Point Therapeutics will post -7.69 earnings per share for the current 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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Analyst Recommendations for Turning Point Therapeutics (NASDAQ:TPTX)

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