Turn Therapeutics (NASDAQ:TTRX) Announces Earnings Results
by Scott Moore · The Cerbat GemTurn Therapeutics (NASDAQ:TTRX – Get Free Report) released its quarterly earnings results on Wednesday. The company reported ($0.20) earnings per share for the quarter, FiscalAI reports.
Turn Therapeutics Stock Performance
Shares of TTRX traded up $0.32 during mid-day trading on Wednesday, hitting $10.54. 68,696 shares of the company’s stock were exchanged, compared to its average volume of 51,061. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.97. Turn Therapeutics has a 52 week low of $2.57 and a 52 week high of $26.50. The stock’s 50-day simple moving average is $7.87 and its 200-day simple moving average is $5.28. The firm has a market cap of $313.99 million and a price-to-earnings ratio of -55.47.
Analyst Upgrades and Downgrades
TTRX has been the subject of a number of research analyst reports. Wall Street Zen upgraded Turn Therapeutics to a “hold” rating in a report on Saturday, July 18th. LADENBURG THALM/SH SH raised Turn Therapeutics to a “strong-buy” rating in a report on Monday, July 20th. Zacks Research upgraded Turn Therapeutics to a “hold” rating in a research note on Tuesday, July 21st. Finally, Weiss Ratings upgraded Turn Therapeutics from a “sell (e)” rating to a “sell (d-)” rating in a research report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $8.00.
Hedge Funds Weigh In On Turn Therapeutics
Hedge funds have recently added to or reduced their stakes in the stock. XTX Topco Ltd acquired a new stake in shares of Turn Therapeutics during the 4th quarter worth $99,000. Jane Street Group LLC acquired a new position in Turn Therapeutics in the fourth quarter valued at about $68,000. Brown Brothers Harriman & Co. bought a new stake in Turn Therapeutics during the fourth quarter worth about $93,000. Hodges Capital Management Inc. acquired a new stake in Turn Therapeutics during the fourth quarter worth about $39,000. Finally, LPL Financial LLC acquired a new stake in Turn Therapeutics during the fourth quarter worth about $51,000.
About Turn Therapeutics
We are a pharmaceutical and medical device development company built around a proprietary platform technology designed to enhance drug performance. Our patented mixing process — commercially referred to as PermaFusion™ (“PermaFusion”) — enables stable suspension of polar, water-soluble active pharmaceutical ingredients (“APIs”) in oil-based carriers without the use of emulsifiers. This innovation reduces the quantity of required API inclusion by improving its bioavailability. Reduced API load reduces the likelihood of adverse events.