JPMorgan Chase & Co. Issues Positive Forecast for TG Therapeutics (NASDAQ:TGTX) Stock Price

TG Therapeutics (NASDAQ:TGTX) had its price target boosted by JPMorgan Chase & Co. from $30.00 to $43.00 in a report released on Monday,Benzinga reports. The brokerage currently has an overweight rating on the biopharmaceutical company’s stock.

A number of other equities analysts have also commented on TGTX. B. Riley raised their target price on shares of TG Therapeutics from $29.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. The Goldman Sachs Group raised their target price on shares of TG Therapeutics from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. HC Wainwright raised their target price on shares of TG Therapeutics from $49.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, TD Cowen assumed coverage on shares of TG Therapeutics in a research report on Tuesday, October 29th. They set a “buy” rating and a $50.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, TG Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $40.67.

TG Therapeutics Stock Performance

TG Therapeutics stock opened at $34.61 on Monday. The company has a debt-to-equity ratio of 1.27, a current ratio of 4.59 and a quick ratio of 3.91. TG Therapeutics has a 1-year low of $12.30 and a 1-year high of $36.84. The firm has a market capitalization of $5.39 billion, a P/E ratio of -346.07 and a beta of 2.19. The company’s 50-day moving average is $25.81 and its 200 day moving average is $21.83.

TG Therapeutics (NASDAQ:TGTX) last issued its earnings results on Monday, November 4th. The biopharmaceutical company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The company had revenue of $83.90 million for the quarter, compared to analysts’ expectations of $81.68 million. TG Therapeutics had a negative return on equity of 8.32% and a negative net margin of 5.42%. The business’s revenue was down 49.4% compared to the same quarter last year. During the same period last year, the business posted $0.73 earnings per share. Research analysts forecast that TG Therapeutics will post 0.17 EPS for the current year.

Insider Activity

In other TG Therapeutics news, Director Sagar Lonial sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $30.44, for a total value of $152,200.00. Following the completion of the sale, the director now directly owns 100,195 shares in the company, valued at $3,049,935.80. This trade represents a 4.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 10.50% of the company’s stock.

Institutional Investors Weigh In On TG Therapeutics

Several institutional investors have recently bought and sold shares of TGTX. NBC Securities Inc. boosted its stake in TG Therapeutics by 58.9% in the third quarter. NBC Securities Inc. now owns 1,309 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 485 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in TG Therapeutics in the second quarter valued at approximately $35,000. Blue Trust Inc. lifted its stake in shares of TG Therapeutics by 127.3% during the third quarter. Blue Trust Inc. now owns 1,516 shares of the biopharmaceutical company’s stock worth $35,000 after buying an additional 849 shares during the period. ORG Wealth Partners LLC acquired a new stake in shares of TG Therapeutics during the third quarter worth $53,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of TG Therapeutics during the first quarter worth $58,000. 58.58% of the stock is currently owned by institutional investors and hedge funds.

About TG Therapeutics

TG Therapeutics, Inc, a commercial stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel treatments for B-cell mediated diseases in the United States and internationally. It provides BRIUMVI, an anti-CD20 monoclonal antibody for the treatment of adult patients with relapsing forms of multiple sclerosis (RMS), including clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease in adults.