TG Therapeutics, Inc. (NASDAQ:TGTX) Receives $50.00 Average PT from Analysts

Shares of TG Therapeutics, Inc. (NASDAQ:TGTX) have been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $50.00.

TGTX has been the subject of a number of recent research reports. The Goldman Sachs Group lifted their price target on shares of TG Therapeutics from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, January 15th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TG Therapeutics in a research note on Monday, December 29th. Cantor Fitzgerald reiterated an “overweight” rating on shares of TG Therapeutics in a report on Wednesday, January 14th. JPMorgan Chase & Co. dropped their price target on TG Therapeutics from $49.00 to $46.00 and set an “overweight” rating on the stock in a research report on Monday, February 2nd. Finally, Wall Street Zen lowered TG Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th.

Hedge Funds Weigh In On TG Therapeutics

Several large investors have recently modified their holdings of the stock. Congress Asset Management Co. purchased a new stake in TG Therapeutics during the 4th quarter valued at about $57,307,000. Man Group plc raised its holdings in TG Therapeutics by 621.5% in the third quarter. Man Group plc now owns 1,008,462 shares of the biopharmaceutical company’s stock worth $36,431,000 after buying an additional 868,697 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of TG Therapeutics by 856.6% in the fourth quarter. BNP Paribas Financial Markets now owns 683,653 shares of the biopharmaceutical company’s stock worth $20,380,000 after buying an additional 612,189 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of TG Therapeutics by 35.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,051,132 shares of the biopharmaceutical company’s stock valued at $61,144,000 after buying an additional 531,759 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of TG Therapeutics by 47.1% during the fourth quarter. Invesco Ltd. now owns 1,609,815 shares of the biopharmaceutical company’s stock valued at $47,989,000 after buying an additional 515,481 shares during the last quarter. Hedge funds and other institutional investors own 58.58% of the company’s stock.

TG Therapeutics Stock Up 3.8%

Shares of TGTX opened at $27.96 on Wednesday. TG Therapeutics has a 1 year low of $25.28 and a 1 year high of $46.48. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.10 and a quick ratio of 3.29. The stock has a 50 day simple moving average of $29.52 and a two-hundred day simple moving average of $31.46. The firm has a market cap of $4.46 billion, a P/E ratio of 10.09 and a beta of 1.87.

TG Therapeutics (NASDAQ:TGTX) last issued its earnings results on Thursday, February 26th. The biopharmaceutical company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.21). The company had revenue of $192.57 million for the quarter, compared to analysts’ expectations of $192.15 million. TG Therapeutics had a net margin of 72.56% and a return on equity of 101.12%. The company’s revenue was up 78.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.15 earnings per share. On average, analysts forecast that TG Therapeutics will post 0.08 earnings per share for the current fiscal year.

TG Therapeutics Company Profile

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.