StockNews.com Downgrades TG Therapeutics (NASDAQ:TGTX) to Sell

StockNews.com downgraded shares of TG Therapeutics (NASDAQ:TGTX) from a hold rating to a sell rating in a report published on Sunday.

Several other analysts also recently weighed in on the company. TD Cowen started coverage on TG Therapeutics in a research report on Tuesday, October 29th. They set a “buy” rating and a $50.00 price objective for the company. JPMorgan Chase & Co. lifted their price target 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. The Goldman Sachs Group increased their price objective on shares of TG Therapeutics from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Finally, HC Wainwright upped their price target on shares of TG Therapeutics from $49.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, TG Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $40.67.

TG Therapeutics Trading Up 4.0 %

Shares of TG Therapeutics stock opened at $32.20 on Friday. The firm’s 50-day moving average price is $29.62 and its two-hundred day moving average price is $23.96. TG Therapeutics has a 12-month low of $12.84 and a 12-month high of $36.84. The company has a quick ratio of 3.91, a current ratio of 4.59 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $5.01 billion, a price-to-earnings ratio of -321.97 and a beta of 2.25.

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

Insider Transactions at TG Therapeutics

In other news, Director Sagar Lonial sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.44, for a total transaction of $152,200.00. Following the completion of the transaction, 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 through the SEC website. 10.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in shares of TG Therapeutics by 1,549.4% during the third quarter. Principal Financial Group Inc. now owns 772,188 shares of the biopharmaceutical company’s stock worth $18,061,000 after buying an additional 725,371 shares during the period. Franklin Resources Inc. grew its holdings in TG Therapeutics by 3.8% during the 3rd quarter. Franklin Resources Inc. now owns 128,985 shares of the biopharmaceutical company’s stock worth $2,945,000 after acquiring an additional 4,756 shares during the period. Synovus Financial Corp acquired a new position in shares of TG Therapeutics in the 3rd quarter valued at about $465,000. Teachers Retirement System of The State of Kentucky bought a new stake in shares of TG Therapeutics during the 3rd quarter valued at about $1,039,000. Finally, Neo Ivy Capital Management acquired a new stake in TG Therapeutics during the third quarter worth approximately $2,358,000. Institutional investors own 58.58% of the company’s stock.

TG Therapeutics Company Profile

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.