TG Therapeutics (NASDAQ:TGTX) Stock Rating Raised to Strong-Buy at Zacks Research

TG Therapeutics (NASDAQ:TGTX) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday, Zacks reports.

Several other equities research analysts have also issued reports on TGTX. JPMorgan Chase & Co. raised their target price on TG Therapeutics from $65.00 to $72.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Bank of America lifted their target price on TG Therapeutics from $17.00 to $20.00 and gave the stock an “underperform” rating in a research note on Tuesday, July 7th. HC Wainwright reissued a “buy” rating and issued a $78.00 price target on shares of TG Therapeutics in a report on Tuesday, September 1st. B. Riley Financial increased their price target on shares of TG Therapeutics from $55.00 to $86.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Finally, Weiss Ratings downgraded shares of TG Therapeutics from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $63.00.

TG Therapeutics Stock Performance

TGTX stock opened at $57.98 on Wednesday. The firm has a market cap of $8.87 billion, a PE ratio of 21.16, a P/E/G ratio of 2.60 and a beta of 1.89. The company has a quick ratio of 3.72, a current ratio of 4.27 and a debt-to-equity ratio of 1.23. The business has a 50 day moving average of $55.72 and a 200-day moving average of $44.36. TG Therapeutics has a 12-month low of $26.76 and a 12-month high of $63.60.

TG Therapeutics (NASDAQ:TGTX) last issued its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.26). TG Therapeutics had a return on equity of 73.49% and a net margin of 55.22%. The business had revenue of $240.34 million for the quarter, compared to the consensus estimate of $229.77 million. During the same quarter last year, the business posted $0.17 earnings per share. The business’s revenue was up 70.2% compared to the same quarter last year. As a group, sell-side analysts expect that TG Therapeutics will post 0.92 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Laurence Charney sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $54.96, for a total value of $274,800.00. Following the transaction, the director owned 168,640 shares in the company, valued at approximately $9,268,454.40. This represents a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.87% of the company’s stock.

Institutional Trading of TG Therapeutics

Large investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its position in shares of TG Therapeutics by 51.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the biopharmaceutical company’s stock valued at $35,000 after buying an additional 365 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of TG Therapeutics by 45.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 993 shares of the biopharmaceutical company’s stock worth $55,000 after acquiring an additional 312 shares during the period. Jacobi Capital Management LLC bought a new position in shares of TG Therapeutics during the 3rd quarter worth $57,000. Signaturefd LLC grew its stake in shares of TG Therapeutics by 193.5% during the 3rd quarter. Signaturefd LLC now owns 1,092 shares of the biopharmaceutical company’s stock worth $61,000 after acquiring an additional 720 shares during the period. Finally, Harbor Investment Advisory LLC purchased a new stake in TG Therapeutics in the 2nd quarter worth about $96,000. 58.58% of the stock is owned by hedge funds and other institutional investors.

TG Therapeutics Company Profile

TG Therapeutics, Inc is a commercial-stage biopharmaceutical company focused on developing and delivering medicines for B-cell diseases, including multiple sclerosis and certain blood cancers. The company’s research and development programs are centered on therapies that target B cells and the immune system.

TG Therapeutics’ primary marketed product is BRIUMVI (ublituximab-xiiy), an anti-CD20 monoclonal antibody approved in the United States for the treatment of relapsing forms of multiple sclerosis in adults.