Turning Point Therapeutics (NASDAQ:TPTX) – Research analysts at Wedbush reduced their FY2019 EPS estimates for shares of Turning Point Therapeutics in a research note issued to investors on Tuesday, November 5th. Wedbush analyst D. Nierengarten now anticipates that the company will earn ($3.12) per share for the year, down from their previous estimate of ($3.00). Wedbush has a “Outperform” rating and a $63.00 price objective on the stock. Wedbush also issued estimates for Turning Point Therapeutics’ Q4 2019 earnings at ($0.66) EPS, Q1 2020 earnings at ($0.78) EPS, Q2 2020 earnings at ($0.91) EPS, Q3 2020 earnings at ($1.06) EPS, Q4 2020 earnings at ($1.11) EPS, FY2020 earnings at ($3.88) EPS, Q1 2021 earnings at ($1.22) EPS, Q2 2021 earnings at ($1.35) EPS, Q3 2021 earnings at ($1.48) EPS, FY2021 earnings at ($5.56) EPS, FY2022 earnings at ($8.03) EPS and FY2023 earnings at ($9.69) EPS.

Turning Point Therapeutics (NASDAQ:TPTX) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.63) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.59) by ($0.04).

Other analysts also recently issued research reports about the stock. Canaccord Genuity upped their price target on shares of Turning Point Therapeutics from $53.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, September 5th. HC Wainwright began coverage on shares of Turning Point Therapeutics in a report on Wednesday, September 25th. They set a “buy” rating and a $70.00 price target for the company. Wells Fargo & Co upped their price target on shares of Turning Point Therapeutics from $53.00 to $62.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Guggenheim began coverage on shares of Turning Point Therapeutics in a report on Wednesday, July 24th. They set a “buy” rating and a $58.00 price target for the company. Finally, Zacks Investment Research raised shares of Turning Point Therapeutics from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a report on Friday. Ten equities research analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and an average price target of $54.00.

Shares of Turning Point Therapeutics stock opened at $47.03 on Friday. The company has a 50 day moving average of $38.20 and a 200-day moving average of $39.99. Turning Point Therapeutics has a 1-year low of $24.21 and a 1-year high of $58.56. The company has a quick ratio of 32.35, a current ratio of 36.64 and a debt-to-equity ratio of 0.01.

In related news, CFO Yi Larson acquired 2,222 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was acquired at an average cost of $45.00 per share, for a total transaction of $99,990.00. Also, Director Simeon George acquired 177,777 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were bought at an average price of $45.00 per share, with a total value of $7,999,965.00. Over the last quarter, insiders have purchased 189,999 shares of company stock valued at $8,549,955.

Hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC acquired a new position in Turning Point Therapeutics during the 2nd quarter worth approximately $25,000. Tower Research Capital LLC TRC increased its position in Turning Point Therapeutics by 155.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,548 shares of the company’s stock worth $58,000 after purchasing an additional 942 shares in the last quarter. Wells Fargo & Company MN acquired a new position in Turning Point Therapeutics during the 2nd quarter worth approximately $72,000. JPMorgan Chase & Co. acquired a new position in Turning Point Therapeutics during the 2nd quarter worth approximately $71,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Turning Point Therapeutics during the 2nd quarter worth approximately $90,000. Institutional investors and hedge funds own 58.29% 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.

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Earnings History and Estimates for Turning Point Therapeutics (NASDAQ:TPTX)

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