TPTX - Turning Point Therapeutics price cut at Wainwright on higher operating expenses

While maintaining its buy rating, H.C. Wainwright is trimming its price target on Turning Point Therapeutics (TPTX +5.2%) to $161 from $162 (~476% upside based on Monday's close) due to higher operating expenses going forward. Analyst Robert Burns said that following the company's Q4 2021 results in late February, where it reported a net loss wider than expected, he is widening his full-year 2022 net loss. He noted that Turning Point (TPTX +5.2%) has a couple of key catalysts related to lead candidate repotrectinib this year: top-line results from ROS1+ non-small cell lung cancer cohorts from the TRIDENT-1 study in Q2 and an update on NTRK+ solid tumor cohorts from the same study trial in 2H. Burns added that the company intends have a pre-NDA meeting with the U.S. FDA in Q1 2023 to discuss the pathway forward in NTRK+ patients. Earlier in March, Turning Point (TPTX +5.2%) said that

For further details see:

Turning Point Therapeutics price cut at Wainwright on higher operating expenses