Turning Point Therapeutics (NASDAQ:TPTX) Price Target Raised to $130.00

Turning Point Therapeutics (NASDAQ:TPTX) had its target price hoisted by HC Wainwright from $100.00 to $130.00 in a research note issued to investors on Monday, The Fly reports. HC Wainwright currently has a buy rating on the stock.

TPTX has been the subject of a number of other reports. Zacks Investment Research upgraded Turning Point Therapeutics from a hold rating to a buy rating and set a $134.00 price target for the company in a research note on Thursday, October 15th. BidaskClub lowered shares of Turning Point Therapeutics from a strong-buy rating to a buy rating in a research report on Thursday, October 22nd. Roth Capital reissued a buy rating and issued a $77.00 price objective (up from $75.00) on shares of Turning Point Therapeutics in a research note on Wednesday, August 19th. SVB Leerink raised their price target on Turning Point Therapeutics from $77.00 to $116.00 and gave the stock an outperform rating in a research note on Monday. Finally, Canaccord Genuity raised their price objective on Turning Point Therapeutics from $80.00 to $85.00 and gave the company a buy rating in a research note on Friday, August 21st. Eight analysts have rated the stock with a buy rating, The stock has an average rating of Buy and an average price target of $118.86.

Shares of NASDAQ TPTX opened at $101.28 on Monday. The company has a market cap of $4.27 billion, a PE ratio of -27.23 and a beta of 1.30. Turning Point Therapeutics has a 12 month low of $31.30 and a 12 month high of $122.85. The company has a 50-day simple moving average of $94.39 and a 200-day simple moving average of $70.10.

Turning Point Therapeutics (NASDAQ:TPTX) last released its earnings results on Monday, August 10th. The company reported ($0.82) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.89) by $0.07. As a group, analysts expect that Turning Point Therapeutics will post -3.89 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the stock. FMR LLC grew its stake in shares of Turning Point Therapeutics by 18.2% during the second quarter. FMR LLC now owns 5,079,197 shares of the company’s stock worth $328,066,000 after buying an additional 780,559 shares during the last quarter. Vanguard Group Inc. grew its stake in Turning Point Therapeutics by 33.3% in the second quarter. Vanguard Group Inc. now owns 2,783,183 shares of the company’s stock valued at $179,765,000 after acquiring an additional 695,062 shares during the period. State Street Corp boosted its position in shares of Turning Point Therapeutics by 3.5% during the first quarter. State Street Corp now owns 1,068,714 shares of the company’s stock valued at $47,729,000 after buying an additional 36,063 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Turning Point Therapeutics by 0.9% during the second quarter. Jennison Associates LLC now owns 634,504 shares of the company’s stock valued at $40,983,000 after buying an additional 5,756 shares during the last quarter. Finally, Federated Hermes Inc. lifted its holdings in Turning Point Therapeutics by 43.1% during the second quarter. Federated Hermes Inc. now owns 607,082 shares of the company’s stock worth $39,211,000 after acquiring an additional 182,972 shares during the period. 87.33% of the stock is currently owned by institutional investors and hedge funds.

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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