Turn Therapeutics (NASDAQ:TTRX) Cut to Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded Turn Therapeutics from “hold” to “sell,” despite mixed analyst views. The broader consensus remains “Moderate Buy,” with an average price target of $9.00.
• TTRX shares opened at $12.49 after falling 5.8%, with the stock trading well above its 50-day and 200-day moving averages. The company reported a quarterly loss of $0.20 per share and analysts expect a full-year loss of $0.40 per share.
• Several institutional investors recently initiated or increased positions in Turn Therapeutics, including Bank of America, Jefferies, Bridgewater Advisors and DDFG, while the company continues developing its PermaFusion drug-delivery technology.

Turn Therapeutics (NASDAQ:TTRX - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Several other brokerages have also recently commented on TTRX. LADENBURG THALM/SH SH upgraded shares of Turn Therapeutics to a "strong-buy" rating in a research report on Monday, July 20th. Weiss Ratings lowered shares of Turn Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, August 18th. Lucid Cap Mkts raised shares of Turn Therapeutics to a "strong-buy" rating in a research note on Thursday. WBB Securities reiterated a "sell" rating and issued a $10.00 target price on shares of Turn Therapeutics in a report on Monday, September 14th. Finally, Zacks Research upgraded shares of Turn Therapeutics to a "hold" rating in a report on Tuesday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $9.00.

Turn Therapeutics Stock Down 5.8%

Shares of TTRX stock opened at $12.49 on Friday. Turn Therapeutics has a 1 year low of $2.57 and a 1 year high of $26.50. The company has a debt-to-equity ratio of 8.83, a quick ratio of 1.19 and a current ratio of 1.19. The business's fifty day moving average is $10.66 and its 200-day moving average is $6.99. The stock has a market cap of $372.08 million and a PE ratio of -43.07.

Turn Therapeutics (NASDAQ:TTRX - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.20) earnings per share for the quarter. Equities analysts expect that Turn Therapeutics will post -0.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Turn Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Tamar Securities LLC acquired a new position in shares of Turn Therapeutics in the 4th quarter valued at $59,000. Bank of America Corp DE acquired a new stake in Turn Therapeutics during the 2nd quarter worth about $103,000. Jefferies Financial Group Inc. acquired a new stake in Turn Therapeutics during the 2nd quarter worth about $119,000. DDFG Inc lifted its stake in Turn Therapeutics by 34.9% during the first quarter. DDFG Inc now owns 70,534 shares of the company's stock valued at $226,000 after buying an additional 18,246 shares in the last quarter. Finally, Bridgewater Advisors Inc. purchased a new stake in Turn Therapeutics during the second quarter valued at about $242,000.

Turn Therapeutics Company Profile

We are a pharmaceutical and medical device development company built around a proprietary platform technology designed to enhance drug performance. Our patented mixing process — commercially referred to as PermaFusion™ (“PermaFusion”) — enables stable suspension of polar, water-soluble active pharmaceutical ingredients (“APIs”) in oil-based carriers without the use of emulsifiers. This innovation reduces the quantity of required API inclusion by improving its bioavailability. Reduced API load reduces the likelihood of adverse events.

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