JPMorgan Chase & Co. Forecasts Strong Price Appreciation for TG Therapeutics (NASDAQ:TGTX) Stock

TG Therapeutics (NASDAQ:TGTX) had its price objective upped by investment analysts at JPMorgan Chase & Co. from $65.00 to $72.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 45.37% from the company’s current price.

A number of other equities research analysts have also recently weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $78.00 price target on shares of TG Therapeutics in a report on Tuesday. Jefferies Financial Group reissued a “buy” rating and issued a $83.00 price objective on shares of TG Therapeutics in a report on Monday, June 22nd. Zacks Research upgraded TG Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Bank of America lifted their target price on TG Therapeutics from $17.00 to $20.00 and gave the company an “underperform” rating in a research note on Tuesday, July 7th. Finally, B. Riley Financial boosted their price target on TG Therapeutics from $55.00 to $86.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, TG Therapeutics currently has an average rating of “Hold” and an average price target of $63.00.

TG Therapeutics Stock Performance

NASDAQ:TGTX traded down $0.02 during mid-day trading on Friday, hitting $49.53. The stock had a trading volume of 490,785 shares, compared to its average volume of 2,230,422. The stock has a market capitalization of $7.58 billion, a price-to-earnings ratio of 18.06, a P/E/G ratio of 1.54 and a beta of 1.62. The company has a 50 day simple moving average of $51.23 and a 200-day simple moving average of $39.47. TG Therapeutics has a 52 week low of $25.28 and a 52 week high of $59.30. The company has a current ratio of 5.81, a quick ratio of 5.12 and a debt-to-equity ratio of 1.28.

TG Therapeutics (NASDAQ:TGTX) last posted its earnings results on Monday, August 3rd. The biopharmaceutical company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.26). TG Therapeutics had a net margin of 55.22% and a return on equity of 73.23%. The firm had revenue of $240.34 million for the quarter, compared to analyst estimates of $229.77 million. During the same period in the previous year, the firm earned $0.17 earnings per share. The company’s revenue for the quarter was up 70.2% on a year-over-year basis. On average, research analysts expect that TG Therapeutics will post 1.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TG Therapeutics

Several hedge funds have recently modified their holdings of TGTX. Danske Bank A S bought a new position in TG Therapeutics during the third quarter valued at about $25,000. EverSource Wealth Advisors LLC grew its holdings 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 worth $35,000 after acquiring an additional 365 shares during the period. Hantz Financial Services Inc. raised its position in TG Therapeutics by 82.7% in the fourth 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 raised its position in TG Therapeutics by 172.4% in the fourth 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 in the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new stake in TG Therapeutics in the 4th quarter valued at about $52,000. 58.58% of the stock is currently owned by institutional investors and hedge funds.

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.