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

StockNews.com upgraded shares of TG Therapeutics (NASDAQ:TGTX) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning.

Several other research firms also recently issued reports on TGTX. The Goldman Sachs Group lifted their price objective on TG Therapeutics from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. TD Cowen assumed coverage on shares of TG Therapeutics in a research note on Tuesday, October 29th. They issued a “buy” rating and a $50.00 price target for the company. 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. Finally, JPMorgan Chase & Co. raised their price objective on shares of TG Therapeutics from $30.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $40.67.

TG Therapeutics Price Performance

TGTX opened at $28.00 on Tuesday. TG Therapeutics has a twelve month low of $12.84 and a twelve month high of $36.84. The firm has a market cap of $4.36 billion, a price-to-earnings ratio of -279.97 and a beta of 2.24. The company has a current ratio of 4.59, a quick ratio of 3.91 and a debt-to-equity ratio of 1.27. The company has a fifty day simple moving average of $31.30 and a 200 day simple moving average of $25.23.

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

Insiders Place Their Bets

In other TG Therapeutics news, Director Sagar Lonial sold 5,000 shares of TG Therapeutics stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $30.44, for a total value 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. The trade was a 4.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Sean A. Power sold 11,337 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $30.29, for a total value of $343,397.73. Following the sale, the chief financial officer now owns 670,632 shares in the company, valued at $20,313,443.28. The trade was a 1.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,358 shares of company stock valued at $781,497 over the last 90 days. 10.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On TG Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp increased its holdings in shares of TG Therapeutics by 35.8% in the 3rd quarter. State Street Corp now owns 9,094,158 shares of the biopharmaceutical company’s stock worth $212,712,000 after acquiring an additional 2,398,015 shares during the period. Marshall Wace LLP bought a new position in TG Therapeutics in the 2nd quarter worth about $36,501,000. Principal Financial Group Inc. increased its stake in shares of TG Therapeutics by 1,549.4% in the third quarter. Principal Financial Group Inc. now owns 772,188 shares of the biopharmaceutical company’s stock valued at $18,061,000 after purchasing an additional 725,371 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of TG Therapeutics during the second quarter valued at approximately $10,423,000. Finally, Public Sector Pension Investment Board acquired a new position in shares of TG Therapeutics during the third quarter worth approximately $6,619,000. Institutional investors and hedge funds 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.