HC Wainwright Reaffirms “Buy” Rating for TG Therapeutics Inc. (TGTX)
TG Therapeutics Inc. (NASDAQ:TGTX)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a research note issued on Saturday. They currently have a $18.00 price objective on the biopharmaceutical company’s stock, down from their prior price objective of $22.00. HC Wainwright’s price target would suggest a potential upside of 173.14% from the company’s current price.
Several other equities analysts have also weighed in on TGTX. Zacks Investment Research lowered TG Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 14th. Roth Capital restated a “buy” rating and issued a $33.00 price target on shares of TG Therapeutics in a research note on Wednesday, August 10th. S&P Equity Research cut their price target on TG Therapeutics from $7.15 to $6.40 in a research note on Wednesday, August 24th. FBR & Co restated a “buy” rating on shares of TG Therapeutics in a research note on Monday, September 19th. Finally, Brean Capital restated a “buy” rating and issued a $28.00 price target on shares of TG Therapeutics in a research note on Thursday, October 6th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $21.21.
Shares of TG Therapeutics (NASDAQ:TGTX) traded down 3.80% during midday trading on Friday, reaching $6.59. The company’s stock had a trading volume of 1,109,795 shares. The firm’s market cap is $358.87 million. TG Therapeutics has a one year low of $5.41 and a one year high of $14.87. The stock’s 50 day moving average price is $7.39 and its 200 day moving average price is $7.37.
TG Therapeutics (NASDAQ:TGTX) last released its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($0.33) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.29) by $0.04. TG Therapeutics had a negative net margin of 40,142.11% and a negative return on equity of 58.77%. Analysts predict that TG Therapeutics will post ($1.22) earnings per share for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Advisors LLC boosted its position in shares of TG Therapeutics by 14.5% in the second quarter. BlackRock Advisors LLC now owns 18,131 shares of the biopharmaceutical company’s stock valued at $110,000 after buying an additional 2,296 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of TG Therapeutics by 11.5% in the second quarter. Vanguard Group Inc. now owns 1,484,133 shares of the biopharmaceutical company’s stock valued at $8,995,000 after buying an additional 152,700 shares in the last quarter. SECOR Capital Advisors LP bought a new position in shares of TG Therapeutics during the second quarter valued at $187,000. Nationwide Fund Advisors boosted its position in shares of TG Therapeutics by 387.7% in the second quarter. Nationwide Fund Advisors now owns 108,904 shares of the biopharmaceutical company’s stock valued at $660,000 after buying an additional 86,573 shares in the last quarter. Finally, Oxford Asset Management bought a new position in shares of TG Therapeutics during the second quarter valued at $475,000. Institutional investors and hedge funds own 54.66% of the company’s stock.
TG Therapeutics Company Profile
TG Therapeutics, Inc (TG) is a biopharmaceutical company focused on the acquisition, development and commercialization of treatments for b-cell malignancies and autoimmune diseases. The Company is developing over two therapies targeting hematological malignancies. TG-1101 (ublituximab) is a glycoengineered monoclonal antibody that targets a specific epitope on the CD20 antigen found on mature B-lymphocytes.
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