Zacks: Brokerages Anticipate Turning Point Therapeutics (NASDAQ:TPTX) to Post -$0.57 Earnings Per Share

Equities analysts expect that Turning Point Therapeutics (NASDAQ:TPTX) will announce earnings of ($0.57) per share for the current quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Turning Point Therapeutics’ earnings. The lowest EPS estimate is ($0.63) and the highest is ($0.51). The firm is scheduled to announce its next earnings results on Tuesday, November 5th.

On average, analysts expect that Turning Point Therapeutics will report full-year earnings of ($2.88) per share for the current financial year. For the next fiscal year, analysts forecast that the business will report earnings of ($3.11) per share, with EPS estimates ranging from ($3.53) to ($2.68). Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Turning Point Therapeutics.

Turning Point Therapeutics (NASDAQ:TPTX) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.70) EPS for the quarter, missing the consensus estimate of ($0.65) by ($0.05).

Several analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Turning Point Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday. Goldman Sachs Group assumed coverage on shares of Turning Point Therapeutics in a research report on Monday, May 13th. They issued a “buy” rating and a $50.00 price target for the company. Leerink Swann assumed coverage on shares of Turning Point Therapeutics in a research report on Monday, May 13th. They issued an “outperform” rating and a $42.00 price target for the company. Royal Bank of Canada assumed coverage on shares of Turning Point Therapeutics in a research report on Monday, May 13th. They issued an “outperform” rating and a $48.00 price target for the company. Finally, Wells Fargo & Co assumed coverage on shares of Turning Point Therapeutics in a research report on Monday, May 13th. They issued an “outperform” rating and a $53.00 price target for the company. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. Turning Point Therapeutics has an average rating of “Buy” and a consensus target price of $48.71.

NASDAQ TPTX traded up $0.01 during mid-day trading on Friday, hitting $42.42. The company’s stock had a trading volume of 147,700 shares, compared to its average volume of 93,603. The firm’s 50 day moving average price is $41.44. Turning Point Therapeutics has a twelve month low of $24.21 and a twelve month high of $47.72. The company has a current ratio of 32.35, a quick ratio of 32.35 and a debt-to-equity ratio of 0.01.

A number of hedge funds and other institutional investors have recently bought and sold shares of TPTX. Cormorant Asset Management LP acquired a new stake in Turning Point Therapeutics in the 2nd quarter valued at $127,080,000. Orbimed Advisors LLC acquired a new stake in Turning Point Therapeutics in the 2nd quarter valued at $104,499,000. Price T Rowe Associates Inc. MD acquired a new stake in Turning Point Therapeutics in the 2nd quarter valued at $36,225,000. BlackRock Inc. acquired a new stake in Turning Point Therapeutics in the 2nd quarter valued at $23,520,000. Finally, Vanguard Group Inc. purchased a new position in Turning Point Therapeutics during the 2nd quarter worth $17,712,000. 0.03% of the stock is owned by institutional investors and hedge funds.

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.

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