TG Therapeutics, Inc. (NASDAQ:TGTX) Stock Now Rated “Moderate Buy” by Wall Street Analysts

TG Therapeutics, Inc. (NASDAQ:TGTX) has received a consensus recommendation of “Moderate Buy” from the nine brokerages that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $63.00.

Several equities analysts have recently commented on the company. Weiss Ratings lowered TG Therapeutics from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 23rd. HC Wainwright reissued a “buy” rating and set a $78.00 price objective on shares of TG Therapeutics in a research report on Tuesday, September 1st. Zacks Research upgraded shares of TG Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 6th. JPMorgan Chase & Co. boosted their price objective on shares of TG Therapeutics from $65.00 to $72.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, B. Riley Financial upped their target price on shares of TG Therapeutics from $55.00 to $86.00 and gave the company a “buy” rating in a research report on Monday, July 27th.

TG Therapeutics Stock Up 1.7%

TGTX stock opened at $57.40 on Thursday. TG Therapeutics has a one year low of $26.76 and a one year high of $59.30. The firm has a market cap of $8.79 billion, a PE ratio of 20.95, a PEG ratio of 2.29 and a beta of 1.80. The firm’s 50 day moving average price is $54.99 and its 200-day moving average price is $43.43. 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 (NASDAQ:TGTX) last issued its quarterly earnings data 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). The business had revenue of $240.34 million during the quarter, compared to analysts’ expectations of $229.77 million. TG Therapeutics had a return on equity of 73.49% and a net margin of 55.22%. The company’s revenue was up 70.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.17 earnings per share. On average, equities research analysts anticipate that TG Therapeutics will post 0.92 EPS for the current year.

Insider Buying and Selling at TG Therapeutics

In other news, Director Laurence Charney sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $54.96, for a total value of $274,800.00. Following the sale, the director directly owned 168,640 shares of the company’s stock, valued at approximately $9,268,454.40. The trade was a 2.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.87% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On TG Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in TG Therapeutics in the 2nd quarter valued at about $1,211,429,000. Bank of America Corp DE purchased a new position in shares of TG Therapeutics in the 2nd quarter valued at about $71,960,000. Bank of New York Mellon Corp acquired a new position in shares of TG Therapeutics during the second quarter worth about $49,472,000. Dimensional Fund Advisors LP increased its stake in shares of TG Therapeutics by 129.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,084,855 shares of the biopharmaceutical company’s stock worth $36,029,000 after buying an additional 612,068 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of TG Therapeutics by 697.6% during the second quarter. Wellington Management Group LLP now owns 478,265 shares of the biopharmaceutical company’s stock worth $26,276,000 after buying an additional 418,300 shares during the period. Hedge funds and other institutional investors own 58.58% of the company’s stock.

TG Therapeutics Company Profile

TG Therapeutics, Inc is a commercial-stage biopharmaceutical company focused on developing and delivering medicines for B-cell diseases, including multiple sclerosis and certain blood cancers. The company’s research and development programs are centered on therapies that target B cells and the immune system.

TG Therapeutics’ primary marketed product is BRIUMVI (ublituximab-xiiy), an anti-CD20 monoclonal antibody approved in the United States for the treatment of relapsing forms of multiple sclerosis in adults.