TG Therapeutics (NASDAQ:TGTX) Upgraded at Zacks Research

TG Therapeutics (NASDAQ:TGTX) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

TGTX has been the subject of a number of other research reports. Weiss Ratings raised shares of TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. Wall Street Zen lowered shares of TG Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. JPMorgan Chase & Co. dropped their price objective 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. Finally, HC Wainwright reissued a “buy” rating and issued a $70.00 price objective on shares of TG Therapeutics in a report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, TG Therapeutics has an average rating of “Moderate Buy” and an average price target of $52.50.

TG Therapeutics Trading Down 2.1%

Shares of TGTX opened at $36.64 on Monday. TG Therapeutics has a 52-week low of $25.28 and a 52-week high of $44.65. The company has a quick ratio of 5.12, a current ratio of 5.81 and a debt-to-equity ratio of 1.28. The firm’s fifty day moving average is $36.35 and its two-hundred day moving average is $32.37. The stock has a market cap of $5.61 billion, a PE ratio of 12.81 and a beta of 1.68.

TG Therapeutics (NASDAQ:TGTX) last announced its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.12 earnings per share (EPS) 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 business had revenue of $204.92 million for the quarter, compared to analyst estimates of $200.33 million. During the same period last year, the firm earned $0.03 EPS. The company’s revenue for the quarter was up 69.5% compared to the same quarter last year. Research analysts forecast that TG Therapeutics will post 1.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TG Therapeutics

A number of hedge funds have recently modified their holdings of the company. Congress Asset Management Co. acquired a new position in TG Therapeutics in the fourth quarter valued at about $57,307,000. Nordea Investment Management AB acquired a new position in TG Therapeutics in the fourth quarter valued at about $2,356,000. Penn Capital Management Company LLC lifted its position in TG Therapeutics by 17.6% in the third quarter. Penn Capital Management Company LLC now owns 521,260 shares of the biopharmaceutical company’s stock valued at $18,877,000 after buying an additional 77,895 shares during the last quarter. Public Sector Pension Investment Board lifted its position in TG Therapeutics by 14.5% in the third quarter. Public Sector Pension Investment Board now owns 529,271 shares of the biopharmaceutical company’s stock valued at $19,120,000 after buying an additional 66,911 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in TG Therapeutics by 56.1% in the third quarter. JPMorgan Chase & Co. now owns 227,934 shares of the biopharmaceutical company’s stock valued at $8,234,000 after buying an additional 81,907 shares during the last quarter. Hedge funds and other institutional investors own 58.58% of the company’s stock.

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.