Turn Therapeutics (NASDAQ:TTRX) Raised to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Turn Therapeutics from “Sell” to “Hold,” while the broader analyst consensus remains “Moderate Buy” with a $9.00 price target.
• TTRX opened at $10.43, above the consensus target, but reported a quarterly loss of $0.20 per share; analysts expect a full-year loss of approximately $0.40 per share.
• Institutional interest increased, with several firms—including BlackRock, Bridgewater Advisors, and Jefferies—establishing new positions during the second quarter.

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

TTRX has been the subject of several other reports. Zacks Research upgraded Turn Therapeutics to a "hold" rating in a research report on Tuesday, July 21st. WBB Securities upgraded shares of Turn Therapeutics from a "sell" rating to a "hold" rating and set a $10.00 price target on the stock in a report on Friday, October 23rd. Lucid Cap Mkts upgraded shares of Turn Therapeutics to a "strong-buy" rating in a report on Thursday, September 24th. Weiss Ratings lowered shares of Turn Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, August 18th. Finally, LADENBURG THALM/SH SH raised shares of Turn Therapeutics to a "strong-buy" rating in a research report on Monday, July 20th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $9.00.

Turn Therapeutics Stock Performance

TTRX opened at $10.43 on Friday. The stock's 50 day moving average price is $11.72 and its 200-day moving average price is $7.01. Turn Therapeutics has a one year low of $2.57 and a one year high of $16.45. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 8.83.

Turn Therapeutics (NASDAQ:TTRX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.20) earnings per share (EPS) for the quarter. On average, sell-side analysts forecast that Turn Therapeutics will post -0.40 earnings per share for the current year.

Hedge Funds Weigh In On Turn Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. SteelPeak Wealth LLC raised its holdings in shares of Turn Therapeutics by 0.7% in the third quarter. SteelPeak Wealth LLC now owns 251,275 shares of the company's stock valued at $3,616,000 after acquiring an additional 1,819 shares in the last quarter. Ieq Capital LLC purchased a new stake in Turn Therapeutics in the second quarter worth about $1,660,000. BlackRock Inc. bought a new position in Turn Therapeutics during the 2nd quarter worth about $282,000. Bridgewater Advisors Inc. bought a new position in Turn Therapeutics during the 2nd quarter worth about $242,000. Finally, Jefferies Financial Group Inc. purchased a new position in Turn Therapeutics during the 2nd quarter valued at about $119,000.

About Turn Therapeutics

Turn Therapeutics, Inc is a biotechnology and pharmaceutical company focused on developing topical therapies for skin and wound-care applications. The company's platform is designed to support the delivery of therapeutic compounds to the skin while helping address microbial contamination and other complications associated with wounds.

Turn Therapeutics has identified MVT-100 as a lead product candidate. The topical formulation is intended for use in wound-care settings, including the management of chronic and difficult-to-heal wounds.

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