Turning Point Therapeutics (NASDAQ:TPTX) PT Raised to $160.00 at JMP Securities


Share on StockTwits

Turning Point Therapeutics (NASDAQ:TPTX) had its price objective increased by stock analysts at JMP Securities from $125.00 to $160.00 in a report issued on Tuesday, The Fly reports. JMP Securities’ price target indicates a potential upside of 24.97% from the company’s current price.

TPTX has been the topic of several other research reports. Wells Fargo & Company boosted their price objective on Turning Point Therapeutics from $88.00 to $133.00 and gave the stock an “overweight” rating in a research report on Monday, October 26th. SVB Leerink boosted their price objective on Turning Point Therapeutics from $116.00 to $127.00 and gave the stock an “outperform” rating in a research report on Monday, December 14th. Canaccord Genuity boosted their price objective on Turning Point Therapeutics from $85.00 to $122.00 and gave the stock a “buy” rating in a research report on Tuesday, October 27th. HC Wainwright boosted their price objective on Turning Point Therapeutics from $100.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, October 26th. Finally, Roth Capital boosted their price objective on Turning Point Therapeutics from $133.00 to $140.00 in a research report on Tuesday, December 8th. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $137.00.

Shares of NASDAQ:TPTX opened at $128.03 on Tuesday. The stock has a market cap of $6.17 billion, a price-to-earnings ratio of -34.42 and a beta of 1.30. Turning Point Therapeutics has a 12-month low of $31.30 and a 12-month high of $134.92. The business’s 50 day moving average is $120.04 and its 200 day moving average is $91.40.

Turning Point Therapeutics (NASDAQ:TPTX) last announced its earnings results on Thursday, November 12th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.79) by $0.37. The company had revenue of $25.00 million for the quarter, compared to analysts’ expectations of $25.00 million. As a group, analysts anticipate that Turning Point Therapeutics will post -3.89 earnings per share for the current year.

In related news, EVP Mohammad Hirmand sold 1,253 shares of the business’s stock in a transaction on Tuesday, January 5th. The stock was sold at an average price of $120.00, for a total transaction of $150,360.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Brian Lee Baker sold 31,238 shares of the business’s stock in a transaction on Thursday, January 7th. The shares were sold at an average price of $122.26, for a total value of $3,819,157.88. The disclosure for this sale can be found here. Insiders own 23.20% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. ProShare Advisors LLC raised its stake in shares of Turning Point Therapeutics by 5.7% during the 3rd quarter. ProShare Advisors LLC now owns 10,984 shares of the company’s stock valued at $960,000 after purchasing an additional 592 shares during the period. Allianz Asset Management GmbH raised its stake in shares of Turning Point Therapeutics by 8.2% during the 3rd quarter. Allianz Asset Management GmbH now owns 61,329 shares of the company’s stock valued at $5,357,000 after purchasing an additional 4,649 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in shares of Turning Point Therapeutics during the 3rd quarter valued at $2,001,000. Two Sigma Advisers LP bought a new stake in shares of Turning Point Therapeutics during the 2nd quarter valued at $1,427,000. Finally, Nisa Investment Advisors LLC purchased a new position in Turning Point Therapeutics during the third quarter worth about $70,000. Institutional investors own 87.33% 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.

See Also: Dividend Yield

The Fly

Analyst Recommendations for Turning Point Therapeutics (NASDAQ:TPTX)

Receive News & Ratings for Turning Point Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Turning Point Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.