Turning Point Therapeutics (NASDAQ:TPTX) Earns Outperform Rating from Analysts at Wedbush

Wedbush assumed coverage on shares of Turning Point Therapeutics (NASDAQ:TPTX) in a report released on Monday morning, BenzingaRatingsTable reports. The firm issued an outperform rating and a $63.00 price target on the stock.

A number of other equities analysts also recently commented on TPTX. Guggenheim began coverage on Turning Point Therapeutics in a report on Wednesday, July 24th. They issued a buy rating and a $58.00 price objective on the stock. Canaccord Genuity raised their target price on Turning Point Therapeutics from $53.00 to $56.00 and gave the company a buy rating in a report on Thursday, September 5th. Wells Fargo & Co raised their target price on Turning Point Therapeutics from $53.00 to $62.00 and gave the company an outperform rating in a report on Wednesday, September 4th. Svb Leerink started coverage on Turning Point Therapeutics in a report on Monday, May 13th. They set an outperform rating and a $42.00 target price on the stock. Finally, Zacks Investment Research reiterated a hold rating on shares of Turning Point Therapeutics in a report on Saturday, September 7th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $52.63.

Shares of Turning Point Therapeutics stock traded up $0.49 during trading hours on Monday, reaching $45.50. The stock had a trading volume of 9,728 shares, compared to its average volume of 203,889. The business’s 50 day simple moving average is $45.11. The company has a debt-to-equity ratio of 0.01, a current ratio of 32.35 and a quick ratio of 32.35. Turning Point Therapeutics has a 1 year low of $24.21 and a 1 year high of $58.56.

Turning Point Therapeutics (NASDAQ:TPTX) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.70) EPS for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.05). Research analysts anticipate that Turning Point Therapeutics will post -2.88 EPS for the current year.

Several large investors have recently made changes to their positions in TPTX. Alpine Woods Capital Investors LLC purchased a new stake in shares of Turning Point Therapeutics during the 2nd quarter valued at about $204,000. Wells Fargo & Company MN purchased a new stake in shares of Turning Point Therapeutics during the 2nd quarter valued at about $72,000. JPMorgan Chase & Co. purchased a new stake in shares of Turning Point Therapeutics during the 2nd quarter valued at about $71,000. Allianz Asset Management GmbH purchased a new stake in shares of Turning Point Therapeutics during the 2nd quarter valued at about $531,000. Finally, Artal Group S.A. purchased a new stake in shares of Turning Point Therapeutics during the 2nd quarter valued at about $8,140,000. Institutional investors and hedge funds own 58.17% of the company’s stock.

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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