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.
TRADEMARK VIOLATION WARNING: This story was posted by Transcript Daily and is owned by of Transcript Daily. If you are reading this story on another publication, it was copied illegally and reposted in violation of US and international copyright legislation. The legal version of this story can be read at https://transcriptdaily.com/2018/01/15/tg-therapeutics-tgtx-stock-rating-lowered-by-zacks-investment-research.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for TG Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TG Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.