Analysts' Revenue Estimates For Turning Point Therapeutics, Inc. (NASDAQ:TPTX) Are Surging Higher

Celebrations may be in order for Turning Point Therapeutics, Inc. (NASDAQ:TPTX) shareholders, with the analysts delivering a significant upgrade to their statutory estimates for the company. The revenue forecast for next year has experienced a facelift, with the analysts now much more optimistic on its sales pipeline.

Following the upgrade, the consensus from ten analysts covering Turning Point Therapeutics is for revenues of US$13m in 2021, implying a sizeable 48% decline in sales compared to the last 12 months. Losses are expected to increase substantially, hitting US$3.89 per share. However, before this estimates update, the consensus had been expecting revenues of US$8.0m and US$4.00 per share in losses. We can see there's definitely been a change in sentiment in this update, with the analysts administering a sizeable upgrade to next year's revenue estimates, while at the same time reducing their loss estimates.

Check out our latest analysis for Turning Point Therapeutics

The consensus price target rose 8.0% to US$147, with the analysts encouraged by the higher revenue and lower forecast losses for next year. The consensus price target is just an average of individual analyst targets, so - it could be handy to see how wide the range of underlying estimates is. There are some variant perceptions on Turning Point Therapeutics, with the most bullish analyst valuing it at US$190 and the most bearish at US$122 per share. These price targets show that analysts do have some differing views on the business, but the estimates do not vary enough to suggest to us that some are betting on wild success or utter failure.

The Bottom Line

The highlight for us was that the consensus reduced its estimated losses next year, perhaps suggesting Turning Point Therapeutics is moving incrementally towards profitability. There was also an increase in the price target, suggesting that there is more optimism baked into the forecasts than there was previously. Seeing the dramatic upgrade to next year's forecasts, it might be time to take another look at Turning Point Therapeutics.

Still, the long-term prospects of the business are much more relevant than next year's earnings. At Simply Wall St, we have a full range of analyst estimates for Turning Point Therapeutics going out to 2025, and you can see them free on our platform here..

Another way to search for interesting companies that could be reaching an inflection point is to track whether management are buying or selling, with our free list of growing companies that insiders are buying.

If you’re looking to trade Turning Point Therapeutics, open an account with the lowest-cost* platform trusted by professionals, Interactive Brokers. Their clients from over 200 countries and territories trade stocks, options, futures, forex, bonds and funds worldwide from a single integrated account. Promoted

This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
^*Interactive Brokers Rated Lowest Cost Broker by StockBrokers.com Annual Online Review 2020

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.