TG Therapeutics Inc (TGTX) Given Consensus Rating of “Buy” by Brokerages
Shares of TG Therapeutics Inc (NASDAQ:TGTX) have been given an average recommendation of “Buy” by the nine brokerages that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $27.75.
Several equities research analysts have recently issued reports on the stock. B. Riley reissued a “buy” rating and issued a $27.00 price objective (up previously from $21.50) on shares of TG Therapeutics in a research report on Friday, March 9th. BidaskClub raised shares of TG Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday, March 6th. Zacks Investment Research raised shares of TG Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, February 16th. ValuEngine raised shares of TG Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $33.00 price target on shares of TG Therapeutics in a report on Tuesday, January 16th.
TG Therapeutics (NASDAQ:TGTX) traded down $0.13 during trading on Friday, hitting $15.97. 433,923 shares of the stock traded hands, compared to its average volume of 1,627,414. TG Therapeutics has a 52 week low of $7.25 and a 52 week high of $17.35. The firm has a market capitalization of $1,209.28, a price-to-earnings ratio of -8.43 and a beta of 1.40.
In related news, CFO Sean A. Power sold 32,006 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $8.50, for a total transaction of $272,051.00. Following the completion of the sale, the chief financial officer now directly owns 517,464 shares of the company’s stock, valued at approximately $4,398,444. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 16.70% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in TGTX. Teacher Retirement System of Texas acquired a new stake in TG Therapeutics during the 4th quarter valued at $151,000. MetLife Investment Advisors LLC acquired a new position in TG Therapeutics during the 4th quarter worth $172,000. Ellington Management Group LLC acquired a new position in TG Therapeutics during the 4th quarter worth $203,000. First Mercantile Trust Co. grew its holdings in TG Therapeutics by 28.6% during the 4th quarter. First Mercantile Trust Co. now owns 26,701 shares of the biopharmaceutical company’s stock worth $219,000 after acquiring an additional 5,938 shares in the last quarter. Finally, Voya Investment Management LLC grew its holdings in TG Therapeutics by 40.2% during the 2nd quarter. Voya Investment Management LLC now owns 22,521 shares of the biopharmaceutical company’s stock worth $226,000 after acquiring an additional 6,463 shares in the last quarter. 50.63% of the stock is owned by institutional investors and hedge funds.
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TG Therapeutics Company Profile
TG Therapeutics, Inc (TG) is a biopharmaceutical company focused on the acquisition, development and commercialization of treatments for B-cell malignancies and autoimmune diseases. As of December 31, 2016, the Company was developing two therapies targeting hematological malignancies. TG-1101 (ublituximab) is a glycoengineered monoclonal antibody that targets a specific epitope on the cluster of differentiation (CD20) antigen found on mature B-lymphocytes.
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