Oppenheimer Releases a Buy Rating on Turning Point Therapeutics (TPTX)

Oppenheimer analyst Matthew Biegler assigned a Buy rating to Turning Point Therapeutics (TPTX) today and set a price target of $150.00. The company’s shares closed last Monday at $89.95.

According to TipRanks.com, Biegler is a 5-star analyst with an average return of 41.7% and a 50.0% success rate. Biegler covers the Healthcare sector, focusing on stocks such as Homology Medicines, Aptose Biosciences, and Fate Therapeutics.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Turning Point Therapeutics with a $161.83 average price target.

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Based on Turning Point Therapeutics’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $47.38 million. In comparison, last year the company had a GAAP net loss of $20.96 million.

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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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