TG Therapeutics’ (TGTX) Buy Rating Reaffirmed at HC Wainwright

TG Therapeutics (NASDAQ:TGTX)‘s stock had its “buy” rating reiterated by HC Wainwright in a note issued to investors on Tuesday, Benzinga reports. They currently have a $78.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s target price points to a potential upside of 42.80% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Zacks Research upgraded shares of TG Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. B. Riley Financial boosted their price target on TG Therapeutics from $55.00 to $86.00 and gave the company a “buy” rating in a research note on Monday, July 27th. JPMorgan Chase & Co. upped their price target on TG Therapeutics from $65.00 to $72.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Bank of America raised their price objective on TG Therapeutics from $17.00 to $20.00 and gave the stock an “underperform” rating in a research report on Tuesday, July 7th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of TG Therapeutics in a report on Wednesday, July 29th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $63.00.

TG Therapeutics Stock Performance

NASDAQ:TGTX traded up $0.32 during trading hours on Tuesday, hitting $54.62. 1,571,721 shares of the company traded hands, compared to its average volume of 2,202,929. The company has a current ratio of 4.27, a quick ratio of 3.72 and a debt-to-equity ratio of 1.23. TG Therapeutics has a twelve month low of $26.76 and a twelve month high of $59.30. The firm has a 50-day moving average of $53.37 and a 200 day moving average of $42.09. The stock has a market capitalization of $8.36 billion, a price-to-earnings ratio of 19.95, a P/E/G ratio of 2.31 and a beta of 1.62.

TG Therapeutics (NASDAQ:TGTX) last posted its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.26). TG Therapeutics had a return on equity of 73.49% and a net margin of 55.22%.The company had revenue of $240.34 million during the quarter, compared to analyst estimates of $229.77 million. During the same quarter in the prior year, the business earned $0.17 earnings per share. The business’s revenue for the quarter was up 70.2% on a year-over-year basis. On average, analysts forecast that TG Therapeutics will post 0.92 EPS for the current year.

Institutional Trading of TG Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TGTX. BlackRock Inc. acquired a new position in TG Therapeutics in the second quarter worth about $1,211,429,000. California State Teachers Retirement System boosted its holdings in TG Therapeutics by 5,233.8% during the second quarter. California State Teachers Retirement System now owns 9,374,083 shares of the biopharmaceutical company’s stock valued at $515,012,000 after purchasing an additional 9,198,333 shares in the last quarter. Bank of America Corp DE bought a new stake in shares of TG Therapeutics in the 2nd quarter valued at approximately $71,960,000. Bank of New York Mellon Corp acquired a new position in shares of TG Therapeutics in the 2nd quarter worth approximately $49,472,000. Finally, Man Group plc raised its holdings in shares of TG Therapeutics by 621.5% in the 3rd quarter. Man Group plc now owns 1,008,462 shares of the biopharmaceutical company’s stock worth $36,431,000 after buying an additional 868,697 shares in the last quarter. Institutional investors own 58.58% of the company’s stock.

About TG Therapeutics

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.