TG Therapeutics (NASDAQ:TGTX) Stock Rating Raised to Hold at Zacks Research

Zacks Research upgraded shares of TG Therapeutics (NASDAQ:TGTX) from a strong sell rating to a hold rating in a research report released on Tuesday,Zacks reports.

Several other analysts have also recently commented on the company. Jefferies Financial Group reiterated a “buy” rating and issued a $83.00 target price on shares of TG Therapeutics in a report on Monday, June 22nd. Bank of America raised their price target on shares of TG Therapeutics from $17.00 to $20.00 and gave the stock an “underperform” rating in a report on Tuesday, July 7th. B. Riley Financial boosted their price target on shares of TG Therapeutics from $55.00 to $86.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. HC Wainwright reaffirmed a “buy” rating and issued a $78.00 price objective on shares of TG Therapeutics in a research note on Tuesday, September 1st. Finally, Weiss Ratings upgraded shares of TG Therapeutics from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, September 21st. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $63.00.

TG Therapeutics Stock Up 1.5%

Shares of NASDAQ:TGTX opened at $52.95 on Tuesday. The firm has a market cap of $8.11 billion, a P/E ratio of 19.32, a P/E/G ratio of 2.24 and a beta of 1.80. TG Therapeutics has a 12-month low of $26.76 and a 12-month high of $59.30. The business has a fifty day simple moving average of $53.61 and a 200 day simple moving average of $47.07. The company has a quick ratio of 3.72, a current ratio of 4.27 and a debt-to-equity ratio of 1.23.

TG Therapeutics (NASDAQ:TGTX) last released its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.26). The company had revenue of $240.34 million during the quarter, compared to the consensus estimate of $229.77 million. TG Therapeutics had a net margin of 55.22% and a return on equity of 73.49%. The company’s quarterly revenue was up 70.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.17 EPS. Analysts predict that TG Therapeutics will post 0.92 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Laurence Charney sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $54.96, for a total transaction of $274,800.00. Following the completion of the sale, the director owned 168,640 shares of the company’s stock, valued at $9,268,454.40. This trade represents a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 8.87% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TG Therapeutics

Several institutional investors have recently added to or reduced their stakes in TGTX. BlackRock Inc. acquired a new stake in shares of TG Therapeutics during the 2nd quarter worth approximately $1,211,429,000. Pictet Asset Management Holding SA lifted 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 valued at $58,048,000 after acquiring an additional 286,325 shares during the period. Bank of America Corp DE boosted its stake in TG Therapeutics by 71.7% during the first quarter. Bank of America Corp DE now owns 1,461,302 shares of the biopharmaceutical company’s stock worth $48,544,000 after acquiring an additional 610,195 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in TG Therapeutics by 129.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,084,855 shares of the biopharmaceutical company’s stock worth $36,029,000 after acquiring an additional 612,068 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in TG Therapeutics in the second quarter worth $49,472,000. 58.58% of the stock is owned by institutional investors and hedge funds.

TG Therapeutics Company Profile

TG Therapeutics, Inc is a commercial-stage biopharmaceutical company focused on developing and delivering treatments for B-cell-mediated diseases, including multiple sclerosis and B-cell malignancies. The company’s research and development activities center on antibody-based therapies designed to target B cells and related immune pathways.

TG Therapeutics’ principal marketed product is BRIUMVI (ublituximab-xiiy), an anti-CD20 monoclonal antibody approved in the United States for the treatment of adults with relapsing forms of multiple sclerosis, including clinically isolated syndrome, relapsing-remitting disease and active secondary progressive disease.