TG Therapeutics, Inc. (NASDAQ:TGTX) Receives $50.00 Consensus PT from Brokerages

TG Therapeutics, Inc. (NASDAQ:TGTX) has been given an average rating of “Moderate Buy” by the six analysts that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $50.00.

A number of equities analysts have commented on the stock. B. Riley Financial raised shares of TG Therapeutics to a “strong-buy” rating in a research note on Tuesday, November 4th. JPMorgan Chase & Co. lowered their price target on shares of TG Therapeutics from $49.00 to $46.00 and set an “overweight” rating for the company in a report on Monday, February 2nd. Wall Street Zen cut TG Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TG Therapeutics in a research note on Monday, December 29th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of TG Therapeutics in a research report on Wednesday, January 14th.

TG Therapeutics Trading Up 0.6%

TGTX stock opened at $29.23 on Friday. The firm has a fifty day moving average price of $29.99 and a 200 day moving average price of $31.33. TG Therapeutics has a fifty-two week low of $25.28 and a fifty-two week high of $46.48. The firm has a market cap of $4.64 billion, a PE ratio of 10.51 and a beta of 1.85. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.89 and a current ratio of 3.82.

Insiders Place Their Bets

In other TG Therapeutics news, Director Yann Echelard sold 5,000 shares of the business’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $32.57, for a total transaction of $162,850.00. Following the transaction, the director owned 223,816 shares in the company, valued at $7,289,687.12. The trade was a 2.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 10.64% of the stock is owned by company insiders.

Hedge Funds Weigh In On TG Therapeutics

A number of large investors have recently made changes to their positions in TGTX. Vanguard Group Inc. grew its holdings in TG Therapeutics by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 15,841,002 shares of the biopharmaceutical company’s stock valued at $472,220,000 after purchasing an additional 319,703 shares during the last quarter. State Street Corp boosted its position in shares of TG Therapeutics by 4.7% during the fourth quarter. State Street Corp now owns 8,479,999 shares of the biopharmaceutical company’s stock valued at $252,789,000 after buying an additional 379,380 shares during the period. Geode Capital Management LLC grew its stake in shares of TG Therapeutics by 6.3% during the second quarter. Geode Capital Management LLC now owns 3,490,457 shares of the biopharmaceutical company’s stock valued at $126,033,000 after buying an additional 207,890 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of TG Therapeutics by 35.0% in the fourth 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. Finally, Congress Asset Management Co. bought a new stake in shares of TG Therapeutics during the 4th quarter worth approximately $57,307,000. 58.58% of the stock is 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.