HC Wainwright Sees Upside Potential In Turning Point Therapeutics, Inc. (NASDAQ:TPTX), Boosts Target Price

HC Wainwright has raised its target price by $ 30 on Turning Point Therapeutics, Inc. (NASDAQ:TPTX) to $ 130.00 from the previous mark of $ 100.00, suggesting the upside potential of more than 26.76 percent from the existing levels. However, the brokerage has maintained its Buy rating on the stock, Benzinga reported.

Shares of Turning Point Therapeutics, Inc. traded up $ 0.67 or 0.66 percent on Friday, reaching $ 102.56 with volume of 557.10 thousand shares. Turning Point Therapeutics, Inc. has traded high as $ 103.18 and has cracked $ 100.92 on the downward trend According to the previous trading day, closing price of $ 102.56, representing a 225.53 % increase from the 52 week low of $ 31.30 and a 17.06 % decrease over the 52 week high of $ 122.85.

With respect to the key metrics, Turning Point Therapeutics, Inc. stock has advanced $ 32.94 or 47.00 percent, reaching $ 69.62 during the simple moving average (SMA) period of 200 days. Similarly, the stock has increased $ 9.47 or 10.00 percent, before arriving at $ 93.09 during the SMA50-day period.

Moving ahead, the consensus estimates from Thomson Reuters for the third quarter are loss of $ 0.55 per share from $ 12.50 million in revenue. For the full year, analysts predict revenues of $ 11.11 million, while looking forward to loss of $ 3.82 per share.

Other analyst recommendations for Turning Point Therapeutics, Inc. Today
  • Maintained By SVB Leerink At Outperform Rating, With $ 116.00 Target Price.

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. The companys lead drug candidate repotrectinib (TPX-0005) 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+, NTRK+ or ALK+ advanced solid tumors.