Oppenheimer Believes Turning Point Therapeutics (TPTX) Still Has Room to Grow

Oppenheimer analyst Matthew Biegler assigned a Buy rating to Turning Point Therapeutics (TPTX) today and set a price target of $130.00. The company’s shares closed last Tuesday at $111.72, close to its 52-week high of $122.85.

According to TipRanks.com, Biegler is a 5-star analyst with an average return of 54.8% and a 47.4% success rate. Biegler covers the Healthcare sector, focusing on stocks such as Aptose Biosciences, Homology Medicines, and Fate Therapeutics.

Currently, the analyst consensus on Turning Point Therapeutics is a Strong Buy with an average price target of $127.00, representing a 17.3% upside. In a report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $130.00 price target.

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Turning Point Therapeutics’ market cap is currently $5.17B and has a P/E ratio of -31.10. The company has a Price to Book ratio of 7.22.

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Turning Point Therapeutics, Inc. engages in the discovery and development of precision medicines for cancer and other diseases. It focuses on the design of novel chemical identities for established oncogene drivers with secondary resistant mutations, newly identified disease-driven targets, and potential targets regulating tumor microenvironment and tumor immunity. The company was founded by J. Jean Cui and Y. Peter Li in October 2013 and is headquartered in San Diego, CA.

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