TG Therapeutics (NASDAQ:TGTX) Price Target Raised to $20.00

TG Therapeutics (NASDAQ:TGTX) had its price objective hoisted by equities research analysts at Bank of America from $17.00 to $20.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “underperform” rating on the biopharmaceutical company’s stock. Bank of America‘s price target suggests a potential downside of 64.22% from the stock’s current price.

TGTX has been the subject of a number of other research reports. HC Wainwright reissued a “buy” rating and set a $70.00 price objective on shares of TG Therapeutics in a research report on Monday. Weiss Ratings upgraded TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 1st. Zacks Research upgraded TG Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $83.00 price objective on shares of TG Therapeutics in a research note on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $52.17.

TG Therapeutics Trading Up 0.8%

Shares of TGTX traded up $0.43 during mid-day trading on Tuesday, hitting $55.90. 216,290 shares of the company’s stock traded hands, compared to its average volume of 2,222,170. The company has a quick ratio of 5.12, a current ratio of 5.81 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $8.56 billion, a P/E ratio of 19.60, a PEG ratio of 2.18 and a beta of 1.60. The business’s 50-day moving average price is $44.35 and its 200-day moving average price is $35.58. TG Therapeutics has a 1 year low of $25.28 and a 1 year high of $57.38.

TG Therapeutics (NASDAQ:TGTX) last released its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.11). The firm had revenue of $204.92 million during the quarter, compared to analysts’ expectations of $200.33 million. TG Therapeutics had a net margin of 65.95% and a return on equity of 88.73%. The company’s revenue for the quarter was up 69.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.03 EPS. As a group, sell-side analysts forecast that TG Therapeutics will post 1.51 EPS for the current fiscal year.

Hedge Funds Weigh In On TG Therapeutics

Several institutional investors have recently bought and sold shares of TGTX. Vanguard Group Inc. grew its stake in TG Therapeutics by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 15,841,002 shares of the biopharmaceutical company’s stock worth $472,220,000 after acquiring an additional 319,703 shares in the last quarter. State Street Corp raised its position in TG Therapeutics by 4.7% during the 4th quarter. State Street Corp now owns 8,479,999 shares of the biopharmaceutical company’s stock valued at $252,789,000 after purchasing an additional 379,380 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of TG Therapeutics by 35.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,051,132 shares of the biopharmaceutical company’s stock worth $61,144,000 after buying an additional 531,759 shares during the period. Congress Asset Management Co. purchased a new stake in shares of TG Therapeutics in the 4th quarter worth $57,307,000. Finally, Pictet Asset Management Holding SA grew its position in shares of TG Therapeutics by 19.6% during the 1st quarter. Pictet Asset Management Holding SA now owns 1,747,373 shares of the biopharmaceutical company’s stock worth $58,048,000 after buying an additional 286,325 shares in the last quarter. Institutional investors own 58.58% of the company’s stock.

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.