Turning Point Therapeutics (NASDAQ:TPTX) shot up 0.7% during trading on Thursday . The company traded as high as $61.37 and last traded at $59.78, 13,305 shares traded hands during mid-day trading. A decline of 97% from the average session volume of 449,209 shares. The stock had previously closed at $59.39.

A number of research firms recently commented on TPTX. BidaskClub upgraded shares of Turning Point Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday. HC Wainwright boosted their target price on shares of Turning Point Therapeutics from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Tuesday, March 17th. Zacks Investment Research downgraded shares of Turning Point Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Wells Fargo & Co boosted their target price on shares of Turning Point Therapeutics from $62.00 to $76.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. Finally, Roth Capital boosted their target price on shares of Turning Point Therapeutics from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $64.50.

The firm’s 50-day moving average price is $51.65 and its two-hundred day moving average price is $53.02. The firm has a market capitalization of $2.13 billion and a PE ratio of -16.33. The company has a quick ratio of 34.91, a current ratio of 34.91 and a debt-to-equity ratio of 0.01.

Turning Point Therapeutics (NASDAQ:TPTX) last released its earnings results on Tuesday, May 12th. The company reported ($1.69) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($1.03). Equities research analysts forecast that Turning Point Therapeutics will post -4.38 EPS for the current year.

In other news, Director Jingrong Jean Cui sold 7,000 shares of Turning Point Therapeutics stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $59.65, for a total value of $417,550.00. Following the transaction, the director now directly owns 1,001,298 shares of the company’s stock, valued at $59,727,425.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last three months, insiders sold 167,000 shares of company stock worth $8,061,958.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Cutler Group LP grew its position in Turning Point Therapeutics by 100.0% during the fourth quarter. Cutler Group LP now owns 600 shares of the company’s stock valued at $37,000 after purchasing an additional 300 shares in the last quarter. Great West Life Assurance Co. Can purchased a new position in Turning Point Therapeutics during the fourth quarter valued at approximately $77,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Turning Point Therapeutics during the fourth quarter valued at approximately $96,000. Point72 Asset Management L.P. purchased a new position in Turning Point Therapeutics during the fourth quarter valued at approximately $131,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in Turning Point Therapeutics during the fourth quarter valued at approximately $139,000. 79.47% of the stock is currently owned by hedge funds and other institutional investors.

Turning Point Therapeutics Company Profile (NASDAQ:TPTX)

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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