Turning Point Therapeutics - TPTX Stock Forecast, Price & News

Turning Point Therapeutics, Inc., a clinical-stage precision oncology biopharmaceutical company, engages in designing and developing therapies that target genetic drivers of cancer. It develops a pipeline of tyrosine kinase inhibitors (TKIs) that targets genetic drivers of cancer in TKI-naïve and TKI-pretreated patients. The company's lead drug candidate repotrectinib is being evaluated in an ongoing Phase 1/2 trial called TRIDENT-1 for the treatment of patients with ROS1+ advanced non-small-cell lung cancer (NSCLC) and patients with ROS1+ and NTRK+ advanced solid tumors. It also develops TPX-0022, a MET/SRC/CSF1R inhibitor, which is in Phase 1 SHIELD-1 clinical trial for patients with advanced solid tumors harboring genetic alterations in MET; TPX-0046, a RET inhibitor that is in 1/2 SWORD-1 clinical trial for patients with advanced solid tumors harboring RET genetic alterations; and TPX-0131, an ALK inhibitor, which is in Phase 1/2 FORGE-1 study for patient with advanced or metastatic TKI-pretreated ALK-positive NSCLC. Turning Point Therapeutics, Inc. was founded in 2013 and is headquartered in San Diego, California.

Turning Point Therapeutics Stock Performance

Shares of TPTX opened at $75.04 on Thursday. Turning Point Therapeutics has a twelve month low of $23.77 and a twelve month high of $82.20. The stock's 50 day moving average is $74.12 and its two-hundred day moving average is $46.17. The firm has a market capitalization of $3.73 billion, a PE ratio of -13.50 and a beta of -0.18.

Turning Point Therapeutics (NASDAQ:TPTX - Get Rating) last announced its quarterly earnings data on Monday, August 8th. The company reported ($2.48) earnings per share for the quarter, missing analysts' consensus estimates of ($1.70) by ($0.78). The business had revenue of $0.12 million during the quarter, compared to the consensus estimate of $2.27 million. During the same quarter in the previous year, the company earned ($1.14) earnings per share. The company's quarterly revenue was down 97.7% compared to the same quarter last year. On average, sell-side analysts predict that Turning Point Therapeutics will post -6.85 EPS for the current year.

Wall Street Analysts Forecast Growth

TPTX has been the subject of a number of recent analyst reports. The Goldman Sachs Group decreased their price target on Turning Point Therapeutics from $143.00 to $116.00 and set a "buy" rating for the company in a report on Tuesday, May 24th. Cowen cut Turning Point Therapeutics from an "outperform" rating to a "market perform" rating in a research report on Monday, June 6th. HC Wainwright cut Turning Point Therapeutics from a "buy" rating to a "neutral" rating and cut their target price for the stock from $161.00 to $76.00 in a research report on Monday, June 6th. Wells Fargo & Company cut Turning Point Therapeutics from an "overweight" rating to an "equal weight" rating and set a $76.00 price target on the stock. in a research report on Friday, June 3rd. Finally, Bank of America initiated coverage on Turning Point Therapeutics in a research report on Friday, May 20th. They issued a "buy" rating and a $58.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Turning Point Therapeutics has a consensus rating of "Hold" and an average price target of $78.22.

Insider Buying and Selling at Turning Point Therapeutics

In other news, CFO Paolo Tombesi sold 1,183 shares of the business's stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $74.94, for a total transaction of $88,654.02. Following the sale, the chief financial officer now owns 28,700 shares of the company's stock, valued at approximately $2,150,778. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.60% of the stock is owned by corporate insiders.