TG Therapeutics Inc. (TGTX) Stock Rating Lowered by Zacks Investment Research
TG Therapeutics Inc. (NASDAQ:TGTX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.
According to Zacks, “TG Therapeutics, Inc. is a biopharmaceutical company focused on the acquisition, development and commercialization of pharmaceutical products for the treatment of cancer and other underserved therapeutic needs. The Company is focused on the development of a monoclonal antibody for the treatment of various B-cell proliferative disorders including lymphoma, leukemia, and auto-immune diseases. TG Therapeutics, Inc., formerly known as Manhattan Pharmaceuticals, Inc., is based in New York. “
Several other equities research analysts have also recently commented on the company. Roth Capital reaffirmed a “buy” rating and set a $33.00 target price on shares of TG Therapeutics in a research note on Wednesday, August 10th. Brean Capital reiterated a “buy” rating and issued a $28.00 price target on shares of TG Therapeutics in a report on Thursday, October 6th. FBR & Co reiterated a “buy” rating on shares of TG Therapeutics in a report on Monday, September 19th. S&P Equity Research cut their price target on TG Therapeutics from $7.15 to $6.40 in a report on Wednesday, August 24th. Finally, HC Wainwright reiterated a “buy” rating and issued a $18.00 price target (down previously from $22.00) on shares of TG Therapeutics in a report on Saturday, October 15th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $20.86.
TG Therapeutics (NASDAQ:TGTX) opened at 5.60 on Thursday. The firm’s 50 day moving average price is $6.70 and its 200 day moving average price is $6.84. TG Therapeutics has a 52-week low of $4.90 and a 52-week high of $14.87. The firm’s market cap is $304.95 million.
TG Therapeutics (NASDAQ:TGTX) last released its earnings results on Monday, November 7th. The biopharmaceutical company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.31) by $0.19. TG Therapeutics had a negative return on equity of 83.18% and a negative net margin of 47,494.08%. Equities research analysts anticipate that TG Therapeutics will post ($1.41) EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Advisors LLC raised its position in TG Therapeutics by 14.5% in the second quarter. BlackRock Advisors LLC now owns 18,131 shares of the biopharmaceutical company’s stock worth $110,000 after buying an additional 2,296 shares in the last quarter. Vanguard Group Inc. raised its position in TG Therapeutics by 11.5% in the second quarter. Vanguard Group Inc. now owns 1,484,133 shares of the biopharmaceutical company’s stock worth $8,995,000 after buying an additional 152,700 shares in the last quarter. SECOR Capital Advisors LP bought a new position in TG Therapeutics during the second quarter worth $187,000. Nationwide Fund Advisors raised its position in TG Therapeutics by 387.7% in the second quarter. Nationwide Fund Advisors now owns 108,904 shares of the biopharmaceutical company’s stock worth $660,000 after buying an additional 86,573 shares in the last quarter. Finally, Oxford Asset Management bought a new position in TG Therapeutics during the second quarter worth $475,000. Institutional investors own 54.30% of the company’s stock.
TG Therapeutics Company Profile
TG Therapeutics, Inc (TG) is a biopharmaceutical company focused on the acquisition, development and commercialization of treatments for b-cell malignancies and autoimmune diseases. The Company is developing over two therapies targeting hematological malignancies. TG-1101 (ublituximab) is a glycoengineered monoclonal antibody that targets a specific epitope on the CD20 antigen found on mature B-lymphocytes.
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