Analysts Set Turning Point Therapeutics, Inc. (NASDAQ:TPTX) PT at $151.00

Turning Point Therapeutics, Inc. (NASDAQ:TPTX) has been assigned an average recommendation of “Buy” from the eight research firms that are presently covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $151.00.

Several brokerages recently issued reports on TPTX. HC Wainwright decreased their price target on Turning Point Therapeutics from $190.00 to $186.00 and set a “buy” rating for the company in a report on Tuesday, April 13th. Oppenheimer reissued a “buy” rating and set a $150.00 price target on shares of Turning Point Therapeutics in a research report on Tuesday, April 6th. Roth Capital boosted their price target on shares of Turning Point Therapeutics from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, April 6th. JMP Securities increased their price objective on shares of Turning Point Therapeutics from $125.00 to $160.00 in a research note on Tuesday, January 12th. Finally, Zacks Investment Research raised shares of Turning Point Therapeutics from a “hold” rating to a “buy” rating and set a $132.00 target price on the stock in a research report on Tuesday, March 2nd.

In related news, EVP Annette North sold 15,984 shares of Turning Point Therapeutics stock in a transaction dated Monday, February 1st. The stock was sold at an average price of $123.65, for a total value of $1,976,421.60. Following the completion of the sale, the executive vice president now owns 15,984 shares of the company’s stock, valued at approximately $1,976,421.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Athena Countouriotis sold 25,666 shares of the business’s stock in a transaction dated Tuesday, February 9th. The shares were sold at an average price of $138.68, for a total value of $3,559,360.88. Following the completion of the sale, the chief executive officer now owns 68,195 shares in the company, valued at $9,457,282.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 130,279 shares of company stock valued at $15,301,470. 23.20% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP purchased a new position in Turning Point Therapeutics in the 4th quarter valued at approximately $2,950,000. Norges Bank bought a new position in shares of Turning Point Therapeutics in the fourth quarter worth $48,462,000. UBS Asset Management Americas Inc. grew its position in shares of Turning Point Therapeutics by 29.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 36,661 shares of the company’s stock valued at $4,467,000 after purchasing an additional 8,300 shares in the last quarter. Hsbc Holdings PLC bought a new stake in shares of Turning Point Therapeutics during the 4th quarter valued at $449,000. Finally, Virtu Financial LLC purchased a new stake in Turning Point Therapeutics during the 4th quarter worth about $744,000. Institutional investors own 81.31% of the company’s stock.

Shares of TPTX traded down $0.37 on Monday, reaching $72.66. The company’s stock had a trading volume of 271,761 shares, compared to its average volume of 347,049. Turning Point Therapeutics has a twelve month low of $46.86 and a twelve month high of $141.30. The stock has a market capitalization of $3.56 billion, a PE ratio of -20.70 and a beta of 1.23. The firm has a fifty day moving average of $96.62 and a 200-day moving average of $111.81.

Turning Point Therapeutics (NASDAQ:TPTX) last issued its quarterly earnings data on Sunday, February 28th. The company reported ($1.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.94) by ($0.08). Equities research analysts forecast that Turning Point Therapeutics will post -3.78 EPS for the current fiscal year.

Turning Point Therapeutics Company Profile

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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