TG Therapeutics (NASDAQ:TGTX) Earns Buy Rating from HC Wainwright

TG Therapeutics (NASDAQ:TGTX)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $70.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price objective would suggest a potential upside of 26.24% from the stock’s previous close.

Several other research analysts have also recently issued reports on TGTX. Weiss Ratings raised TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 1st. Jefferies Financial Group reiterated a “buy” rating and issued a $83.00 target price on shares of TG Therapeutics in a research report on Monday, June 22nd. Finally, Zacks Research raised shares of TG Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $58.60.

TG Therapeutics Stock Up 4.0%

Shares of TG Therapeutics stock traded up $2.14 during trading on Monday, reaching $55.45. The company had a trading volume of 837,236 shares, compared to its average volume of 2,223,743. The company has a debt-to-equity ratio of 1.28, a quick ratio of 5.12 and a current ratio of 5.81. TG Therapeutics has a fifty-two week low of $25.28 and a fifty-two week high of $57.38. The firm’s fifty day moving average is $43.98 and its 200-day moving average is $35.41. The company has a market cap of $8.49 billion, a price-to-earnings ratio of 19.39, a price-to-earnings-growth ratio of 2.18 and a beta of 1.60.

TG Therapeutics (NASDAQ:TGTX) last released its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.11). TG Therapeutics had a return on equity of 88.73% and a net margin of 65.95%.The business had revenue of $204.92 million for the quarter, compared to analyst estimates of $200.33 million. During the same quarter last year, the company earned $0.03 EPS. TG Therapeutics’s revenue was up 69.5% compared to the same quarter last year. On average, analysts anticipate that TG Therapeutics will post 1.51 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Danske Bank A S purchased a new position in TG Therapeutics during the 3rd quarter worth approximately $25,000. EverSource Wealth Advisors LLC raised its position in TG Therapeutics by 51.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the biopharmaceutical company’s stock valued at $35,000 after buying an additional 365 shares during the period. Hantz Financial Services Inc. lifted its stake in TG Therapeutics by 82.7% in the 4th quarter. Hantz Financial Services Inc. now owns 1,237 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 560 shares in the last quarter. Truvestments Capital LLC boosted its position in TG Therapeutics by 172.4% during the 4th quarter. Truvestments Capital LLC now owns 1,621 shares of the biopharmaceutical company’s stock worth $48,000 after acquiring an additional 1,026 shares during the period. Finally, Kemnay Advisory Services Inc. purchased a new position in TG Therapeutics during the 4th quarter valued at about $52,000. 58.58% of the stock is owned by hedge funds and other institutional investors.

About TG Therapeutics

TG Therapeutics, Inc is a clinical‐stage biopharmaceutical company headquartered in New York City that specializes in developing targeted therapies for hematological malignancies and autoimmune diseases. The company’s research strategy focuses on the modulation of B-cell biology through novel antibody and small‐molecule agents. Since its founding in 2003, TG Therapeutics has built a diversified portfolio aimed at addressing unmet medical needs in oncology and immunology.

In December 2022, TG Therapeutics achieved its first commercial milestone when ublituximab-xiiy (marketed as Briumvi® in collaboration with Biogen) received U.S.