JPMorgan Chase & Co. Issues Positive Forecast for TG Therapeutics (NASDAQ:TGTX) Stock Price

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

TGTX has been the subject of a number of other research reports. Bank of America raised their price target on shares of TG Therapeutics from $17.00 to $20.00 and gave the stock an “underperform” rating in a research report on Tuesday, July 7th. HC Wainwright reiterated a “buy” rating and set a $78.00 price objective on shares of TG Therapeutics in a research note on Tuesday. Zacks Research raised shares of TG Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. Jefferies Financial Group reissued a “buy” rating and issued a $83.00 target price on shares of TG Therapeutics in a research report on Monday, June 22nd. 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 note on Monday, July 27th. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $63.00.

TG Therapeutics Stock Down 0.0%

TGTX traded down $0.02 on Friday, reaching $49.53. The company’s stock had a trading volume of 490,785 shares, compared to its average volume of 2,230,422. The stock has a market cap of $7.58 billion, a price-to-earnings ratio of 18.06, a price-to-earnings-growth ratio of 1.54 and a beta of 1.62. TG Therapeutics has a 1 year low of $25.28 and a 1 year high of $59.30. The company has a debt-to-equity ratio of 1.28, a current ratio of 5.81 and a quick ratio of 5.12. The business’s 50 day moving average is $51.23 and its 200 day moving average is $39.47.

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 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 business had revenue of $240.34 million for the quarter, compared to analyst estimates of $229.77 million. During the same quarter last year, the business earned $0.17 EPS. TG Therapeutics’s revenue for the quarter was up 70.2% compared to the same quarter last year. As a group, research analysts forecast that TG Therapeutics will post 1.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Royal Bank of Canada raised its stake in TG Therapeutics by 16.4% during the first quarter. Royal Bank of Canada now owns 75,692 shares of the biopharmaceutical company’s stock worth $2,985,000 after acquiring an additional 10,660 shares during the period. NewEdge Advisors LLC raised its position in shares of TG Therapeutics by 9.6% during the 1st quarter. NewEdge Advisors LLC now owns 7,593 shares of the biopharmaceutical company’s stock worth $299,000 after purchasing an additional 665 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of TG Therapeutics by 21.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,919,416 shares of the biopharmaceutical company’s stock worth $75,683,000 after purchasing an additional 345,059 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in TG Therapeutics by 5.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 287,059 shares of the biopharmaceutical company’s stock valued at $11,319,000 after purchasing an additional 14,689 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in TG Therapeutics by 86.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,237 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 573 shares during the period. 58.58% of the stock is currently owned by 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.