TG Therapeutics (NASDAQ:TGTX) Upgraded 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 note released on Saturday morning.

A number of other research analysts also recently issued reports on the stock. TD Cowen initiated 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. JPMorgan Chase & Co. boosted their price objective on shares of TG Therapeutics from $30.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. The Goldman Sachs Group raised their price target on shares of TG Therapeutics from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Finally, HC Wainwright increased their price target on TG Therapeutics from $49.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, TG Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $40.67.

TG Therapeutics Stock Up 7.4 %

Shares of TGTX stock opened at $34.40 on Friday. 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 stock has a 50 day moving average of $28.82 and a 200-day moving average of $23.57. TG Therapeutics has a 12 month low of $12.84 and a 12 month high of $36.84. The firm has a market cap of $5.35 billion, a PE ratio of -343.97 and a beta of 2.25.

TG Therapeutics (NASDAQ:TGTX) last released its quarterly earnings data on Monday, November 4th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $83.90 million for the quarter, compared to analyst estimates of $81.68 million. During the same period in the previous year, the firm posted $0.73 earnings per share. The firm’s revenue for the quarter was down 49.4% compared to the same quarter last year. On average, equities analysts predict that TG Therapeutics will post 0.17 EPS for the current year.

Insider Transactions at TG Therapeutics

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. State Street Corp lifted its stake 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 valued at $212,712,000 after acquiring an additional 2,398,015 shares during the last quarter. Marshall Wace LLP bought a new stake in TG Therapeutics in the second quarter worth approximately $36,501,000. Hood River Capital Management LLC grew its holdings in TG Therapeutics by 6.7% in the second quarter. Hood River Capital Management LLC now owns 1,572,929 shares of the biopharmaceutical company’s stock worth $27,982,000 after purchasing an additional 98,892 shares during the period. Charles Schwab Investment Management Inc. increased its position in TG Therapeutics by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,184,609 shares of the biopharmaceutical company’s stock valued at $27,708,000 after buying an additional 7,939 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in 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 acquiring an additional 725,371 shares during the period. 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.