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

Key Points

• Wall Street Zen downgraded Turn Therapeutics from “hold” to “sell.” Despite the downgrade, analyst opinions remain mixed, with the stock carrying a consensus “Moderate Buy” rating and an $8.00 target price.
• Turn Therapeutics opened at $9.80, with a 52-week range of $2.57 to $26.50 and a market capitalization of approximately $291.94 million. 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 positions in Turn Therapeutics, including Ieq Capital, BlackRock, Geode Capital Management, Millennium Management and XTX Topco.

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

Several other equities analysts also recently commented on the company. Zacks Research upgraded Turn Therapeutics to a "hold" rating in a research note on Tuesday, July 21st. LADENBURG THALM/SH SH raised Turn Therapeutics to a "strong-buy" rating in a research report on Monday, July 20th. Finally, Weiss Ratings lowered Turn Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $8.00.

Turn Therapeutics Stock Performance

NASDAQ TTRX opened at $9.80 on Friday. Turn Therapeutics has a 52-week low of $2.57 and a 52-week high of $26.50. The company has a 50-day simple moving average of $9.17 and a 200 day simple moving average of $5.94. 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 company has a market capitalization of $291.94 million and a PE ratio of -33.79.

Turn Therapeutics (NASDAQ:TTRX - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.20) EPS for the quarter. On average, research analysts predict that Turn Therapeutics will post -0.4 EPS for the current year.

Institutional Trading of Turn Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Ieq Capital LLC purchased a new stake in shares of Turn Therapeutics during the 2nd quarter valued at approximately $1,660,000. BlackRock Inc. purchased a new position in Turn Therapeutics in the 2nd quarter valued at approximately $282,000. Geode Capital Management LLC purchased a new position in Turn Therapeutics in the 4th quarter valued at approximately $68,000. Millennium Management LLC bought a new stake in Turn Therapeutics during the 4th quarter valued at $377,000. Finally, XTX Topco Ltd bought a new stake in Turn Therapeutics during the 4th quarter valued at $99,000.

About Turn Therapeutics

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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