TG Therapeutics, Inc. (NASDAQ:TGTX) Stock Now Rated “Hold” by Sell-Side Brokerages

by · The Cerbat Gem

TG Therapeutics, Inc. (NASDAQ:TGTX – Get Free Report) has been assigned a consensus recommendation of “Hold” from the nine research firms that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $63.00.

A number of brokerages recently issued reports on TGTX. Zacks Research downgraded TG Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Monday, September 7th. JPMorgan Chase & Co. boosted their target price on TG Therapeutics from $65.00 to $72.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Jefferies Financial Group restated a “buy” rating and issued a $83.00 target price on shares of TG Therapeutics in a research note on Monday, June 22nd. HC Wainwright reaffirmed a “buy” rating and issued a $78.00 price target on shares of TG Therapeutics in a report on Tuesday, September 1st. Finally, Weiss Ratings upgraded TG Therapeutics from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, September 21st.

View Our Latest Stock Analysis on TG Therapeutics

TG Therapeutics Price Performance

Shares of NASDAQ:TGTX opened at $54.29 on Friday. The company has a market capitalization of $8.31 billion, a P/E ratio of 19.81, a price-to-earnings-growth ratio of 2.33 and a beta of 1.80. The company’s 50-day moving average is $53.71 and its 200 day moving average is $46.47. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.72 and a current ratio of 4.27. TG Therapeutics has a fifty-two week low of $26.76 and a fifty-two week high of $59.30.

TG Therapeutics (NASDAQ:TGTX – Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.26). TG Therapeutics had a return on equity of 73.49% and a net margin of 55.22%.The firm had revenue of $240.34 million for the quarter, compared to the consensus estimate of $229.77 million. During the same quarter in the previous year, the company posted $0.17 EPS. The firm’s revenue was up 70.2% compared to the same quarter last year. On average, equities research analysts forecast that TG Therapeutics will post 0.92 earnings per share for the current year.

Insider Activity

In related news, Director Laurence Charney sold 5,000 shares of the stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $54.96, for a total transaction of $274,800.00. Following the transaction, the director owned 168,640 shares of the company’s stock, valued at approximately $9,268,454.40. This trade represents a 2.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.87% of the company’s stock.

Institutional Investors Weigh In On TG Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in TG Therapeutics in the second quarter worth about $1,211,429,000. Pictet Asset Management Holding SA boosted its position in 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 in the last quarter. Bank of America Corp DE grew its holdings in shares of TG Therapeutics by 71.7% during the 1st 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 during the period. Dimensional Fund Advisors LP grew its holdings in shares of TG Therapeutics by 129.5% during the 1st 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 during the period. Finally, Bank of New York Mellon Corp bought a new position in shares of TG Therapeutics in the 2nd quarter worth approximately $49,472,000. 58.58% of the stock is currently owned by institutional investors.

TG Therapeutics Company Profile

(Get Free Report)

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.

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