Turning Point Therapeutics Inc. [TPTX] stock Initiated by BofA Securities analyst, price target now $58


Turning Point Therapeutics Inc. [NASDAQ: TPTX] gained 118.35% on the last trading session, reaching $74.59 price per share at the time. The company report on May 26, 2022 that Turning Point Therapeutics to Participate in Upcoming Investor Conferences.

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Turning Point Therapeutics, Inc. (NASDAQ: TPTX), a clinical-stage precision oncology company designing and developing novel targeted therapies for cancer treatment, today announced that President and CEO Athena Countouriotis, M.D., will participate in the Jefferies Healthcare Conference on June 8 and the 43rd Annual Goldman Sachs Healthcare Conference on June 14.

Dr. Countouriotis is scheduled to present a company overview in New York on June 8 at 11 a.m. ET and scheduled to participate in a fireside chat on June 14 in Rancho Palo Verdes, California at 1 p.m. ET.

Turning Point Therapeutics Inc. represents 49.61 million in outstanding shares, while the company has a total market value of $1.70 billion with the latest information. TPTX stock price has been found in the range of $73.53 to $74.65.

If compared to the average trading volume of 664.09K shares, TPTX reached a trading volume of 30413849 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $94.62 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 1.80. 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.

BofA Securities have made an estimate for Turning Point Therapeutics Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 20, 2022. While these analysts kept the previous recommendation, Cowen raised their target price to Outperform. The new note on the price target was released on December 07, 2021, representing the official price target for Turning Point Therapeutics Inc. stock.

The Average True Range (ATR) for Turning Point Therapeutics Inc. is set at 5.73, with the Price to Sales ratio for TPTX stock in the period of the last 12 months amounting to 278.18. The Price to Book ratio for the last quarter was 4.15, with the Price to Cash per share for the same quarter was set at 40.36.

Trading performance analysis for TPTX stock

Turning Point Therapeutics Inc. [TPTX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 128.80. With this latest performance, TPTX shares gained by 122.46% in over the last four-week period, additionally plugging by 92.24% over the last 6 months – not to mention a rise of 15.00% 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 83.56, with the RSI for the last a single of trading hit 88.26, and the three-weeks RSI is set at 79.31 for Turning Point Therapeutics Inc. [TPTX]. The present Moving Average for the last 50 days of trading for this stock 31.54, while it was recorded at 42.74 for the last single week of trading, and 43.07 for the last 200 days.

Turning Point Therapeutics Inc. [TPTX]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Turning Point Therapeutics Inc. [TPTX] shares currently have an operating margin of -772.00 and a Gross Margin at +87.13. Turning Point Therapeutics Inc.’s Net Margin is presently recorded at -767.30.

Return on Equity for this stock declined to -22.92, with Return on Assets sitting at -22.11.

Turning Point Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 20.40 and a Current Ratio set at 20.40.

An analysis of insider ownership at Turning Point Therapeutics Inc. [TPTX]

There are presently around $3,500 million, or 99.50% of TPTX stock, in the hands of institutional investors. The top three institutional holders of TPTX stocks are: WELLINGTON MANAGEMENT GROUP LLP with ownership of 4,030,991, which is approximately 0.532% of the company’s market cap and around 0.60% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 3,962,652 shares of the stock with an approximate value of $295.57 million in TPTX stocks shares; and VANGUARD GROUP INC, currently with $291.88 million in TPTX stock with ownership of nearly 0.923% of the company’s market capitalization.

Positions in Turning Point Therapeutics Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 94 institutional holders increased their position in Turning Point Therapeutics Inc. [NASDAQ:TPTX] by around 4,847,526 shares. Additionally, 95 investors decreased positions by around 3,861,171 shares, while 13 investors held positions by with 38,217,239 shares. The mentioned changes placed institutional holdings at 46,925,936 shares, according to the latest SEC report filing. TPTX stock had 27 new institutional investments in for a total of 836,889 shares, while 40 institutional investors sold positions of 1,625,493 shares during the same period.