TG Therapeutics (NASDAQ:TGTX) Upgraded to “Hold” at StockNews.com

TG Therapeutics (NASDAQ:TGTX) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report released on Saturday.

Several other brokerages also recently issued reports on TGTX. The Goldman Sachs Group upped their price target on TG Therapeutics from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. increased their target price on shares of TG Therapeutics from $30.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, November 25th. TD Cowen began coverage on shares of TG Therapeutics in a report on Tuesday, October 29th. They set a “buy” rating and a $50.00 price target on the stock. Finally, HC Wainwright increased their price objective on shares of TG Therapeutics from $49.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, TG Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $40.67.

TG Therapeutics Stock Up 4.3 %

TG Therapeutics stock opened at $32.02 on Friday. The company has a market capitalization of $4.98 billion, a PE ratio of -320.17 and a beta of 2.25. TG Therapeutics has a 12-month low of $12.84 and a 12-month high of $36.84. The firm’s fifty day moving average is $28.56 and its 200 day moving average is $23.45. The company has a quick ratio of 3.91, a current ratio of 4.59 and a debt-to-equity ratio of 1.27.

TG Therapeutics (NASDAQ:TGTX) last announced its quarterly earnings results on Monday, November 4th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). TG Therapeutics had a negative return on equity of 8.32% and a negative net margin of 5.42%. The firm had revenue of $83.90 million during the quarter, compared to the consensus estimate of $81.68 million. During the same quarter in the previous year, the company posted $0.73 EPS. The firm’s revenue was down 49.4% on a year-over-year basis. As a group, sell-side analysts predict that TG Therapeutics will post 0.17 EPS for the current fiscal year.

Insider Buying and Selling at TG Therapeutics

In other news, Director Sagar Lonial sold 5,000 shares of TG Therapeutics stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.44, for a total value of $152,200.00. Following the transaction, the director now owns 100,195 shares in the company, valued at approximately $3,049,935.80. The trade was a 4.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 10.50% of the company’s stock.

Hedge Funds Weigh In On TG Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of TGTX. Assenagon Asset Management S.A. purchased a new stake in TG Therapeutics in the second quarter worth about $8,698,000. Bank of New York Mellon Corp lifted its stake in shares of TG Therapeutics by 13.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 503,645 shares of the biopharmaceutical company’s stock valued at $8,960,000 after purchasing an additional 59,523 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of TG Therapeutics by 1,080.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 18,313 shares of the biopharmaceutical company’s stock valued at $326,000 after purchasing an additional 16,761 shares in the last quarter. Iridian Asset Management LLC CT purchased a new stake in TG Therapeutics in the second quarter worth $700,000. Finally, Burney Co. bought a new position in TG Therapeutics in the second quarter worth $801,000. 58.58% of the stock is owned by institutional investors.

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.