TG Therapeutics (TGTX) Stock Rating Lowered by Zacks Investment Research

TG Therapeutics (NASDAQ:TGTX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Saturday.

According to Zacks, “TG Therapeutics, Inc. is a biopharmaceutical company focused on the acquisition, development and commercialization of pharmaceutical products for the treatment of cancer and other underserved therapeutic needs. The Company is focused on the development of a monoclonal antibody for the treatment of various B-cell proliferative disorders including lymphoma, leukemia, and auto-immune diseases. TG Therapeutics, Inc., formerly known as Manhattan Pharmaceuticals, Inc., is based in New York. “

A number of other analysts also recently commented on the company. BidaskClub raised TG Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday. HC Wainwright reaffirmed a “buy” rating and set a $33.00 price target on shares of TG Therapeutics in a research report on Monday, January 8th. Raymond James Financial reaffirmed a “buy” rating on shares of TG Therapeutics in a research report on Tuesday, December 12th. B. Riley reaffirmed a “buy” rating and set a $21.50 price target on shares of TG Therapeutics in a research report on Monday, December 11th. Finally, ValuEngine downgraded TG Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, October 16th. Two analysts have rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. TG Therapeutics has an average rating of “Buy” and a consensus price target of $25.50.

Shares of TG Therapeutics (TGTX) opened at $9.88 on Friday. The company has a market capitalization of $697.69, a P/E ratio of -5.12 and a beta of 1.30. TG Therapeutics has a 52-week low of $4.10 and a 52-week high of $15.35.

TG Therapeutics (NASDAQ:TGTX) last issued its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.48) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.43) by ($0.05). The business had revenue of $0.04 million for the quarter, compared to analysts’ expectations of $0.04 million. TG Therapeutics had a negative net margin of 73,217.77% and a negative return on equity of 151.21%. analysts predict that TG Therapeutics will post -1.87 EPS for the current fiscal year.

In other TG Therapeutics news, CFO Sean A. Power sold 32,006 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $8.50, for a total transaction of $272,051.00. Following the completion of the transaction, the chief financial officer now directly owns 517,464 shares of the company’s stock, valued at $4,398,444. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 16.70% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Sectoral Asset Management Inc grew its holdings in TG Therapeutics by 23.5% during the third quarter. Sectoral Asset Management Inc now owns 100,366 shares of the biopharmaceutical company’s stock valued at $1,189,000 after purchasing an additional 19,100 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in TG Therapeutics by 176.8% during the third quarter. Schwab Charles Investment Management Inc. now owns 243,485 shares of the biopharmaceutical company’s stock valued at $2,886,000 after purchasing an additional 155,535 shares during the period. Hikari Power Ltd grew its holdings in TG Therapeutics by 166.7% during the third quarter. Hikari Power Ltd now owns 160,000 shares of the biopharmaceutical company’s stock valued at $1,896,000 after purchasing an additional 100,000 shares during the period. Columbus Circle Investors grew its holdings in TG Therapeutics by 9.8% during the third quarter. Columbus Circle Investors now owns 1,532,911 shares of the biopharmaceutical company’s stock valued at $18,165,000 after purchasing an additional 136,515 shares during the period. Finally, Swiss National Bank grew its holdings in TG Therapeutics by 12.8% during the third quarter. Swiss National Bank now owns 89,300 shares of the biopharmaceutical company’s stock valued at $1,058,000 after purchasing an additional 10,100 shares during the period. 50.41% 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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