Turning Point Therapeutics (NASDAQ:TPTX) Stock Rating Lowered by BidaskClub

Turning Point Therapeutics (NASDAQ:TPTX) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday, BidAskClub reports.

Several other analysts also recently issued reports on TPTX. Roth Capital assumed coverage on Turning Point Therapeutics in a report on Thursday, November 14th. They set a “buy” rating and a $65.00 price objective on the stock. HC Wainwright restated a “buy” rating and set a $70.00 price objective on shares of Turning Point Therapeutics in a report on Tuesday, January 21st. Finally, Zacks Investment Research upgraded Turning Point Therapeutics from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a report on Friday, November 8th. Twelve research analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and an average price target of $55.00.

Shares of Turning Point Therapeutics stock opened at $60.23 on Tuesday. The company has a current ratio of 36.64, a quick ratio of 36.64 and a debt-to-equity ratio of 0.01. The company’s 50-day moving average price is $60.27 and its two-hundred day moving average price is $50.01. Turning Point Therapeutics has a 52 week low of $24.21 and a 52 week high of $67.54.

In other Turning Point Therapeutics news, insider Jingrong Jean Cui sold 56,110 shares of the business’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $51.95, for a total transaction of $2,914,914.50. Following the sale, the insider now owns 1,301,298 shares in the company, valued at approximately $67,602,431.10. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last 90 days, insiders have sold 231,610 shares of company stock worth $13,151,050.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cutler Group LP increased its holdings in shares of Turning Point Therapeutics by 100.0% in the 4th quarter. Cutler Group LP now owns 600 shares of the company’s stock valued at $37,000 after purchasing an additional 300 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Turning Point Therapeutics by 155.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,548 shares of the company’s stock valued at $58,000 after purchasing an additional 942 shares during the period. Great West Life Assurance Co. Can acquired a new position in shares of Turning Point Therapeutics in the 4th quarter valued at about $77,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Turning Point Therapeutics in the 4th quarter valued at about $96,000. Finally, FNY Investment Advisers LLC acquired a new position in shares of Turning Point Therapeutics in the 3rd quarter valued at about $118,000. Hedge funds and other institutional investors own 74.05% of the company’s stock.

Turning Point Therapeutics Company Profile

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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