TG Therapeutics (NASDAQ:TGTX) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of TG Therapeutics (NASDAQ:TGTX) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

Several other analysts also recently commented on TGTX. JPMorgan Chase & Co. reduced their price target on shares of TG Therapeutics from $49.00 to $46.00 and set an “overweight” rating for the company in a research report on Monday, February 2nd. B. Riley Financial upgraded shares of TG Therapeutics to a “strong-buy” rating in a research note on Tuesday, November 4th. Cantor Fitzgerald reiterated an “overweight” rating on shares of TG Therapeutics in a research note on Wednesday, January 14th. The Goldman Sachs Group raised their price target on TG Therapeutics from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, January 15th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TG Therapeutics in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, TG Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $50.00.

TG Therapeutics Trading Up 0.3%

TGTX opened at $28.50 on Friday. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 10.25 and a beta of 1.85. TG Therapeutics has a 52 week low of $25.28 and a 52 week high of $46.48. The business’s 50 day moving average is $30.05 and its two-hundred day moving average is $31.38. The company has a quick ratio of 2.89, a current ratio of 3.82 and a debt-to-equity ratio of 0.40.

Insider Activity

In related news, Director Yann Echelard sold 5,000 shares of TG Therapeutics stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $32.57, for a total value of $162,850.00. Following the sale, the director directly owned 223,816 shares in the company, valued at $7,289,687.12. The trade was a 2.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 10.64% of the company’s stock.

Institutional Investors Weigh In On TG Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Johnson Financial Group Inc. acquired a new position in shares of TG Therapeutics during the 2nd quarter worth $25,000. Danske Bank A S acquired a new position in TG Therapeutics during the third quarter worth about $25,000. Optiver Holding B.V. increased its holdings in TG Therapeutics by 3,485.7% in the third quarter. Optiver Holding B.V. now owns 753 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 732 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of TG Therapeutics by 117.1% during the 3rd quarter. Bessemer Group Inc. now owns 901 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 486 shares during the period. Finally, Salomon & Ludwin LLC purchased a new stake in shares of TG Therapeutics during the 3rd quarter worth approximately $34,000. Institutional investors and hedge funds own 58.58% of the company’s stock.

TG Therapeutics Company Profile

TG Therapeutics, Inc is a clinical‐stage biopharmaceutical company headquartered in New York City that specializes in developing targeted therapies for hematological malignancies and autoimmune diseases. The company’s research strategy focuses on the modulation of B-cell biology through novel antibody and small‐molecule agents. Since its founding in 2003, TG Therapeutics has built a diversified portfolio aimed at addressing unmet medical needs in oncology and immunology.

In December 2022, TG Therapeutics achieved its first commercial milestone when ublituximab-xiiy (marketed as Briumvi® in collaboration with Biogen) received U.S.