Zacks: Analysts Expect Turning Point Therapeutics, Inc. (NASDAQ:TPTX) Will Announce Earnings of -$0.94 Per Share

Brokerages expect that Turning Point Therapeutics, Inc. (NASDAQ:TPTX) will post earnings of ($0.94) per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Turning Point Therapeutics’ earnings, with the lowest EPS estimate coming in at ($1.01) and the highest estimate coming in at ($0.84). Turning Point Therapeutics posted earnings of ($0.58) per share during the same quarter last year, which would indicate a negative year over year growth rate of 62.1%. The firm is expected to issue its next earnings report after the market closes on Monday, March 1st.

On average, analysts expect that Turning Point Therapeutics will report full year earnings of ($3.78) per share for the current fiscal year, with EPS estimates ranging from ($3.84) to ($3.66). For the next year, analysts anticipate that the firm will post earnings of ($4.08) per share, with EPS estimates ranging from ($4.48) to ($3.13). Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Turning Point Therapeutics.

Several research firms have recently weighed in on TPTX. Roth Capital boosted their price target on Turning Point Therapeutics from $140.00 to $170.00 in a report on Friday, January 29th. HC Wainwright upped their price target on shares of Turning Point Therapeutics from $130.00 to $190.00 and gave the company a “buy” rating in a research report on Tuesday, January 19th. Wells Fargo & Company raised their price target on shares of Turning Point Therapeutics from $88.00 to $133.00 and gave the company an “overweight” rating in a research note on Monday, October 26th. Oppenheimer boosted their price objective on shares of Turning Point Therapeutics from $130.00 to $150.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 12th. Finally, Canaccord Genuity raised their target price on Turning Point Therapeutics from $122.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, February 2nd. Eight analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and a consensus target price of $153.50.

In related news, EVP Mohammad Hirmand sold 1,253 shares of the firm’s stock in a transaction that occurred on Tuesday, January 5th. The stock was sold at an average price of $120.00, for a total transaction of $150,360.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Brian Lee Baker sold 31,238 shares of Turning Point Therapeutics stock in a transaction that occurred on Thursday, January 7th. The stock was sold at an average price of $122.26, for a total value of $3,819,157.88. The disclosure for this sale can be found here. Insiders have sold 98,785 shares of company stock valued at $12,674,834 in the last three months. 23.20% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in TPTX. Los Angeles Capital Management LLC increased its stake in Turning Point Therapeutics by 1.0% in the fourth quarter. Los Angeles Capital Management LLC now owns 17,527 shares of the company’s stock valued at $2,136,000 after purchasing an additional 175 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Turning Point Therapeutics by 2.3% in the 3rd quarter. Principal Financial Group Inc. now owns 12,582 shares of the company’s stock valued at $1,099,000 after buying an additional 279 shares during the period. HighMark Wealth Management LLC increased its position in Turning Point Therapeutics by 417.1% in the 3rd quarter. HighMark Wealth Management LLC now owns 393 shares of the company’s stock valued at $34,000 after buying an additional 317 shares in the last quarter. First Mercantile Trust Co. increased its position in Turning Point Therapeutics by 32.4% in the 4th quarter. First Mercantile Trust Co. now owns 1,364 shares of the company’s stock valued at $166,000 after buying an additional 334 shares in the last quarter. Finally, Strs Ohio raised its stake in Turning Point Therapeutics by 3.3% during the 4th quarter. Strs Ohio now owns 12,600 shares of the company’s stock worth $1,535,000 after buying an additional 400 shares during the period. Institutional investors own 81.31% of the company’s stock.

TPTX traded down $3.18 on Tuesday, reaching $113.59. The stock had a trading volume of 15,595 shares, compared to its average volume of 258,256. The company has a market capitalization of $5.47 billion, a price-to-earnings ratio of -33.27 and a beta of 1.23. Turning Point Therapeutics has a fifty-two week low of $31.30 and a fifty-two week high of $141.30. The firm has a 50-day moving average of $129.40 and a 200-day moving average of $105.01.

About Turning Point Therapeutics

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.

See Also: What is the Quick Ratio?

Get a free copy of the Zacks research report on Turning Point Therapeutics (TPTX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Turning Point Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Turning Point Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.