TG Therapeutics (TGTX) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of TG Therapeutics (NASDAQ:TGTX) from a hold rating to a buy rating in a research report report published on Friday. The brokerage currently has $5.75 price target on the biopharmaceutical company’s stock.
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. “
A number of other research firms have also recently weighed in on TGTX. ValuEngine raised shares of TG Therapeutics from a sell rating to a hold rating in a report on Wednesday, October 24th. BidaskClub cut shares of TG Therapeutics from a sell rating to a strong sell rating in a report on Friday, July 20th. LADENBURG THALM/SH SH set a $27.00 price objective on shares of TG Therapeutics and gave the stock a buy rating in a report on Wednesday, September 26th. HC Wainwright reaffirmed a buy rating and issued a $38.00 price objective on shares of TG Therapeutics in a report on Tuesday, August 7th. Finally, Raymond James cut shares of TG Therapeutics from a strong-buy rating to an outperform rating and dropped their price objective for the stock from $22.00 to $12.00 in a report on Tuesday, September 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $18.35.
TG Therapeutics (NASDAQ:TGTX) last released its quarterly earnings data on Friday, November 9th. The biopharmaceutical company reported ($0.43) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.55) by $0.12. TG Therapeutics had a negative net margin of 99,001.33% and a negative return on equity of 185.20%. The business had revenue of $0.04 million for the quarter, compared to analysts’ expectations of $0.04 million. Analysts expect that TG Therapeutics will post -1.98 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in TGTX. Claraphi Advisory Network LLC acquired a new position in TG Therapeutics during the 3rd quarter valued at about $123,000. Xact Kapitalforvaltning AB acquired a new position in TG Therapeutics during the 2nd quarter valued at about $139,000. Quantitative Systematic Strategies LLC acquired a new position in TG Therapeutics during the 2nd quarter valued at about $146,000. Birchview Capital LP acquired a new position in TG Therapeutics during the 2nd quarter valued at about $197,000. Finally, MetLife Investment Advisors LLC increased its stake in TG Therapeutics by 55.2% during the 3rd quarter. MetLife Investment Advisors LLC now owns 43,884 shares of the biopharmaceutical company’s stock valued at $246,000 after buying an additional 15,600 shares during the period. 49.76% of the stock is currently owned by hedge funds and other institutional investors.
About TG Therapeutics
TG Therapeutics, Inc, a biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel treatments for B-cell malignancies and autoimmune diseases in the United States. It develops TG-1101 (ublituximab), a chimeric, glycoengineered monoclonal antibody that targets an epitope on the CD20 antigen found on the surface of B-lymphocytes developed to aid in the depletion of circulating B-cells; and TG-1101 in combination with TGR-1202 for relapsed/refractory chronic lymphocytic leukemia.
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