Turn Therapeutics (NASDAQ:TTRX) Announces Quarterly Earnings Results

Turn Therapeutics (NASDAQ:TTRX) announced its quarterly earnings data on Monday. The company reported ($0.21) earnings per share (EPS) for the quarter, FiscalAI reports.

Turn Therapeutics Price Performance

TTRX stock opened at $9.48 on Monday. The stock has a market capitalization of $289.42 million and a P/E ratio of -32.69. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 8.83. Turn Therapeutics has a 12 month low of $2.57 and a 12 month high of $16.45. The firm has a 50-day moving average price of $11.70 and a 200-day moving average price of $7.13.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TTRX. WBB Securities raised shares of Turn Therapeutics from a “sell” rating to a “hold” rating and set a $10.00 price target for the company in a report on Friday, October 23rd. Zacks Research raised shares of Turn Therapeutics to a “hold” rating in a research note on Tuesday, July 21st. Weiss Ratings cut shares of Turn Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, August 18th. Lucid Cap Mkts upgraded shares of Turn Therapeutics to a “strong-buy” rating in a research report on Thursday, September 24th. Finally, LADENBURG THALM/SH SH upgraded Turn Therapeutics to a “strong-buy” rating in a research note on Monday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $9.00.

Institutional Investors Weigh In On Turn Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. TD Waterhouse Canada Inc. acquired a new stake in Turn Therapeutics in the third quarter valued at approximately $40,000. Bank of America Corp DE bought a new stake in shares of Turn Therapeutics during the second quarter worth $103,000. Jefferies Financial Group Inc. bought a new stake in shares of Turn Therapeutics during the second quarter worth $119,000. Bridgewater Advisors Inc. acquired a new position in shares of Turn Therapeutics during the second quarter worth $242,000. Finally, BlackRock Inc. acquired a new position in shares of Turn Therapeutics during the second quarter worth $282,000.

About Turn Therapeutics

Turn Therapeutics, Inc is a biotechnology and pharmaceutical company focused on developing topical therapies for skin and wound-care applications. The company’s platform is designed to support the delivery of therapeutic compounds to the skin while helping address microbial contamination and other complications associated with wounds.

Turn Therapeutics has identified MVT-100 as a lead product candidate. The topical formulation is intended for use in wound-care settings, including the management of chronic and difficult-to-heal wounds.