For Turning Point Therapeutics Inc. [TPTX], Analyst sees a rise to $100. What next?

Turning Point Therapeutics Inc. [NASDAQ: TPTX] surged by $6.44 during the normal trading session on Tuesday and reaching a high of $101.19 during the day while it closed the day at $100.08. The company report on October 27, 2020 that Turning Point Therapeutics Announces Pricing of $400 Million Public Offering of Common Stock.

Turning Point Therapeutics, Inc. (Nasdaq: TPTX), a precision oncology company developing next-generation therapies that target genetic drivers of cancer, today announced the pricing of its previously announced underwritten public offering of 4,597,702 shares of its common stock at a price to the public of $87.00 per share. The gross proceeds to Turning Point from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Turning Point, are expected to be approximately $400.0 million. In addition, Turning Point has granted the underwriters a 30-day option to purchase up to an additional 689,655 shares of common stock. The offering is expected to close on or about October 29, 2020, subject to satisfaction of customary closing conditions.

Goldman Sachs & Co. LLC, SVB Leerink and Guggenheim Securities are acting as joint bookrunning managers for the offering. Wedbush PacGrow and Roth Capital Partners are acting as co-managers for the offering.

Turning Point Therapeutics Inc. stock has also loss -7.58% of its value over the past 7 days. However, TPTX stock has inclined by 65.15% in the 3 months of the year. Over the past six months meanwhile, it has gained 88.83% and gained 60.67% year-on date.

The market cap for TPTX stock reached $4.19 billion, with 38.60 million shares outstanding and 30.83 million shares in the current float. Compared to the average trading volume of 377.75K shares, TPTX reached a trading volume of 2449074 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Turning Point Therapeutics Inc. [TPTX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TPTX shares is $97.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TPTX stock is a recommendation set at 1.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

H.C. Wainwright have made an estimate for Turning Point Therapeutics Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 21, 2020. While these analysts kept the previous recommendation, Oppenheimer raised their target price to Outperform. The new note on the price target was released on July 10, 2020, representing the official price target for Turning Point Therapeutics Inc. stock. Previously, the target price had yet another raise from $72 to $88, while H.C. Wainwright kept a Buy rating on TPTX stock. On March 17, 2020, analysts increased their price target for TPTX shares from 70 to 72.

The Average True Range (ATR) for Turning Point Therapeutics Inc. is set at 6.17 The Price to Book ratio for the last quarter was 5.44, with the Price to Cash per share for the same quarter was set at 16.96.

TPTX stock trade performance evaluation

Turning Point Therapeutics Inc. [TPTX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.58. With this latest performance, TPTX shares gained by 12.03% in over the last four-week period, additionally plugging by 88.83% over the last 6 months – not to mention a rise of 170.05% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TPTX stock in for the last two-week period is set at 51.61, with the RSI for the last a single of trading hit 46.85, and the three-weeks RSI is set at 55.15 for Turning Point Therapeutics Inc. [TPTX]. The present Moving Average for the last 50 days of trading for this stock 87.85, while it was recorded at 100.04 for the last single week of trading, and 64.32 for the last 200 days.

Turning Point Therapeutics Inc. [TPTX]: An insightful look at the core fundamentals

Return on Total Capital for TPTX is now -30.67, given the latest momentum, and Return on Invested Capital for the company is -28.53. Return on Equity for this stock declined to -28.75, with Return on Assets sitting at -27.45. When it comes to the capital structure of this company, Turning Point Therapeutics Inc. [TPTX] has a Total Debt to Total Equity ratio set at 1.25. Additionally, TPTX Total Debt to Total Capital is recorded at 1.23, with Total Debt to Total Assets ending up at 1.20. Long-Term Debt to Equity for the company is recorded at 0.94, with the Long-Term Debt to Total Capital now at 0.93.

Reflecting on the efficiency of the workforce at the company, Turning Point Therapeutics Inc. [TPTX] managed to generate an average of -$759,274 per employee.Turning Point Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 62.80 and a Current Ratio set at 62.80.

Earnings per share (EPS) analysis for Turning Point Therapeutics Inc. [TPTX] stock

With the latest financial reports released by the company, Turning Point Therapeutics Inc. posted -0.63/share EPS, while the average EPS was predicted by analysts to be reported at -0.55/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -14.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for TPTX.

Turning Point Therapeutics Inc. [TPTX]: Insider Ownership positions

There are presently around $3,699 million, or 93.70% of TPTX stock, in the hands of institutional investors. The top three institutional holders of TPTX stocks are: FMR LLC with ownership of 5,079,197, which is approximately 18.158% of the company’s market cap and around 2.50% of the total institutional ownership; VANGUARD GROUP INC, holding 2,783,183 shares of the stock with an approximate value of $278.54 million in TPTX stocks shares; and ORBIMED ADVISORS LLC, currently with $274.75 million in TPTX stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Turning Point Therapeutics Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 116 institutional holders increased their position in Turning Point Therapeutics Inc. [NASDAQ:TPTX] by around 8,885,939 shares. Additionally, 39 investors decreased positions by around 1,387,259 shares, while 15 investors held positions by with 26,683,930 shares. The mentioned changes placed institutional holdings at 36,957,128 shares, according to the latest SEC report filing. TPTX stock had 54 new institutional investments in for a total of 2,506,533 shares, while 9 institutional investors sold positions of 287,825 shares during the same period.

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