HC Wainwright Reiterates “Buy” Rating for TG Therapeutics (NASDAQ:TGTX)

TG Therapeutics (NASDAQ:TGTX)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a report issued on Wednesday,Benzinga reports. They presently have a $70.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price objective would indicate a potential upside of 76.12% from the company’s current price.

Several other brokerages have also issued reports on TGTX. JPMorgan Chase & Co. decreased their price target on shares of TG Therapeutics from $49.00 to $46.00 and set an “overweight” rating on the stock in a research note on Monday, February 2nd. Weiss Ratings raised shares of TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. Zacks Research cut shares of TG Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Friday, May 1st. Finally, Wall Street Zen downgraded shares of TG Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, TG Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $52.50.

TG Therapeutics Stock Performance

Shares of NASDAQ TGTX traded up $0.02 during mid-day trading on Wednesday, hitting $39.75. The company had a trading volume of 813,269 shares, compared to its average volume of 2,065,873. TG Therapeutics has a 1 year low of $25.28 and a 1 year high of $44.65. The stock’s 50-day moving average price is $35.70 and its 200-day moving average price is $32.18. The company has a current ratio of 5.81, a quick ratio of 5.12 and a debt-to-equity ratio of 1.28. The company has a market capitalization of $6.08 billion, a price-to-earnings ratio of 13.89 and a beta of 1.68.

TG Therapeutics (NASDAQ:TGTX) last released its quarterly earnings results 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 firm had revenue of $204.92 million during the quarter, compared to the consensus estimate of $200.33 million. During the same period in the previous year, the company posted $0.03 EPS. The company’s revenue for the quarter was up 69.5% compared to the same quarter last year. On average, sell-side analysts forecast that TG Therapeutics will post 1.31 earnings per share for the current year.

Hedge Funds Weigh In On TG Therapeutics

Large investors have recently made changes to their positions in the business. Royal Bank of Canada lifted its position in TG Therapeutics by 16.4% in the 1st quarter. Royal Bank of Canada now owns 75,692 shares of the biopharmaceutical company’s stock valued at $2,985,000 after acquiring an additional 10,660 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in TG Therapeutics by 9.6% in the first quarter. NewEdge Advisors LLC now owns 7,593 shares of the biopharmaceutical company’s stock worth $299,000 after purchasing an additional 665 shares during the last quarter. Goldman Sachs Group Inc. grew its position in TG Therapeutics by 21.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,919,416 shares of the biopharmaceutical company’s stock worth $75,683,000 after purchasing an additional 345,059 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in TG Therapeutics by 5.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 287,059 shares of the biopharmaceutical company’s stock valued at $11,319,000 after buying an additional 14,689 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in TG Therapeutics by 86.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,237 shares of the biopharmaceutical company’s stock valued at $45,000 after buying an additional 573 shares during the last quarter. 58.58% of the stock is currently 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.