TG Therapeutics (TGTX) Cut to “Sell” at Zacks Investment Research
Zacks Investment Research lowered shares of TG Therapeutics (NASDAQ:TGTX) from a hold rating to a sell rating in a research report released on Saturday.
According to Zacks, “TG Therapeutics, Inc. is a biopharmaceutical company focused on the acquisition, development and commercialization of pharmaceutical products for the treatment of cancer and other underserved therapeutic needs. The Company is focused on the development of a monoclonal antibody for the treatment of various B-cell proliferative disorders including lymphoma, leukemia, and auto-immune diseases. TG Therapeutics, Inc., formerly known as Manhattan Pharmaceuticals, Inc., is based in New York. “
Several other analysts have also recently commented on the company. BidaskClub raised TG Therapeutics from a sell rating to a hold rating in a report on Thursday. HC Wainwright reaffirmed a buy rating and set a $33.00 price objective on shares of TG Therapeutics in a report on Monday, January 8th. Raymond James Financial reaffirmed a buy rating on shares of TG Therapeutics in a report on Tuesday, December 12th. B. Riley reissued a buy rating and set a $21.50 price target on shares of TG Therapeutics in a research report on Monday, December 11th. Finally, ValuEngine downgraded TG Therapeutics from a hold rating to a sell rating in a research report on Monday, October 16th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $25.50.
TG Therapeutics (NASDAQ:TGTX) traded down $0.78 during trading on Friday, reaching $9.88. The company’s stock had a trading volume of 2,099,636 shares, compared to its average volume of 1,250,299. TG Therapeutics has a 52 week low of $4.10 and a 52 week high of $15.35. The firm has a market cap of $697.69, a PE ratio of -5.12 and a beta of 1.30.
TG Therapeutics (NASDAQ:TGTX) last posted its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.05). The company had revenue of $0.04 million for the quarter, compared to analyst estimates of $0.04 million. TG Therapeutics had a negative return on equity of 151.21% and a negative net margin of 73,217.77%. research analysts predict that TG Therapeutics will post -1.87 EPS for the current fiscal year.
In other TG Therapeutics news, CFO Sean A. Power sold 32,006 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $8.50, for a total transaction of $272,051.00. Following the completion of the transaction, the chief financial officer now owns 517,464 shares of the company’s stock, valued at $4,398,444. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 16.70% of the company’s stock.
Several large investors have recently made changes to their positions in TGTX. Schwab Charles Investment Management Inc. grew its position in shares of TG Therapeutics by 22.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 87,950 shares of the biopharmaceutical company’s stock valued at $884,000 after purchasing an additional 15,900 shares during the period. Rhumbline Advisers boosted its holdings in TG Therapeutics by 25.2% in the second quarter. Rhumbline Advisers now owns 52,602 shares of the biopharmaceutical company’s stock valued at $529,000 after acquiring an additional 10,585 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in TG Therapeutics by 9.3% in the second quarter. Bank of New York Mellon Corp now owns 297,176 shares of the biopharmaceutical company’s stock valued at $2,987,000 after acquiring an additional 25,297 shares during the last quarter. Legal & General Group Plc boosted its holdings in TG Therapeutics by 14.9% in the second quarter. Legal & General Group Plc now owns 11,264 shares of the biopharmaceutical company’s stock valued at $114,000 after acquiring an additional 1,463 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in TG Therapeutics by 44.0% in the second quarter. JPMorgan Chase & Co. now owns 364,025 shares of the biopharmaceutical company’s stock valued at $3,658,000 after acquiring an additional 111,155 shares during the last quarter. 50.41% of the stock is owned by institutional investors and hedge funds.
TRADEMARK VIOLATION WARNING: This piece was first posted by Daily Political and is the property of of Daily Political. If you are accessing this piece on another website, it was copied illegally and reposted in violation of international trademark and copyright laws. The correct version of this piece can be viewed at https://www.dailypolitical.com/2018/01/14/tg-therapeutics-tgtx-cut-to-sell-at-zacks-investment-research.html.
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. As of December 31, 2016, the Company was developing two therapies targeting hematological malignancies. TG-1101 (ublituximab) is a glycoengineered monoclonal antibody that targets a specific epitope on the cluster of differentiation (CD20) antigen found on mature B-lymphocytes.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for TG Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TG Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.