TG Therapeutics, Inc. (NASDAQ:TGTX) Given Consensus Rating of “Hold” by Brokerages

TG Therapeutics, Inc. (NASDAQ:TGTX) has been assigned an average recommendation of “Hold” from the nine brokerages that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $63.00.

TGTX has been the subject of a number of recent analyst reports. B. Riley Financial increased their price target on shares of TG Therapeutics from $55.00 to $86.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TG Therapeutics in a report on Wednesday, July 29th. HC Wainwright reiterated a “buy” rating and issued a $78.00 target price on shares of TG Therapeutics in a research note on Tuesday, September 1st. JPMorgan Chase & Co. lifted their price target on TG Therapeutics from $65.00 to $72.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Finally, Bank of America boosted their price target on TG Therapeutics from $17.00 to $20.00 and gave the stock an “underperform” rating in a research report on Tuesday, July 7th.

TG Therapeutics Trading Down 0.4%

Shares of TG Therapeutics stock opened at $55.74 on Wednesday. The stock has a market cap of $8.53 billion, a P/E ratio of 20.34, a P/E/G ratio of 2.40 and a beta of 1.67. The company has a quick ratio of 3.72, a current ratio of 4.27 and a debt-to-equity ratio of 1.23. TG Therapeutics has a 12-month low of $26.76 and a 12-month high of $59.30. The business’s 50 day moving average is $53.56 and its 200-day moving average is $43.25.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. NewEdge Advisors LLC raised its stake in TG Therapeutics by 15.3% in the 2nd quarter. NewEdge Advisors LLC now owns 10,103 shares of the biopharmaceutical company’s stock valued at $555,000 after acquiring an additional 1,343 shares during the period. IFP Advisors Inc increased its holdings in shares of TG Therapeutics by 1.3% in the second quarter. IFP Advisors Inc now owns 209,318 shares of the biopharmaceutical company’s stock valued at $11,500,000 after purchasing an additional 2,780 shares during the last quarter. Allworth Financial LP raised its position in shares of TG Therapeutics by 99.7% in the second quarter. Allworth Financial LP now owns 2,321 shares of the biopharmaceutical company’s stock valued at $128,000 after purchasing an additional 1,159 shares during the period. Edge Wealth Management LLC bought a new position in shares of TG Therapeutics in the second quarter valued at about $275,000. Finally, Nykredit A S acquired a new stake in shares of TG Therapeutics during the 2nd quarter worth about $262,000. 58.58% of the stock is owned by institutional investors and hedge funds.

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.