Oppenheimer Starts Turning Point Therapeutics Inc. (TPTX) at Outperform

July 9, 2020 4:05 PM EDT
Get Alerts TPTX Hot Sheet
Price: $78.66 -0.29%

Rating Summary:
    11 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 8 | New: 46
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Oppenheimer analyst Matthew Biegler initiates coverage on Turning Point Therapeutics Inc. (NASDAQ: TPTX) with a Outperform rating and a price target of $90.00.

The analyst comments "Turning Point Therapeutics is an upstart in the field of precision oncology, aiming to develop next-generation targeted therapies for cancer. The company’s primary focus is lung cancer, where targeted therapies have become a mainstay approach for treating tumors driven by well-characterized oncogenes. Despite recent progress, our prescriber survey highlights a high degree of unmet need, particularly for patients failing first and second-generation tyrosine kinase inhibitors (TKIs). Turning Point’s pipeline of TKIs are structurally differentiated from conventional inhibitors, and we believe the company’s lead asset, the ROS1/NTRK inhibitor repotrectinib, has been de-risked in the Phase 1 portion of the TRIDENT-1 study. We are initiating with an Outperform rating and a $90 PT ahead of interim registrational data expected in 3Q."

For an analyst ratings summary and ratings history on Turning Point Therapeutics Inc. click here. For more ratings news on Turning Point Therapeutics Inc. click here.

Shares of Turning Point Therapeutics Inc. closed at $62.77 yesterday.

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