Zacks Research Downgrades TG Therapeutics (NASDAQ:TGTX) to Strong Sell

TG Therapeutics (NASDAQ:TGTX) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday, Zacks reports.

A number of other research firms have also commented on TGTX. HC Wainwright reissued a “buy” rating and issued a $78.00 target price on shares of TG Therapeutics in a report on Tuesday, September 1st. B. Riley Financial upped their price target on TG Therapeutics from $55.00 to $86.00 and gave the company a “buy” rating in a report on Monday, July 27th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TG Therapeutics in a research report on Wednesday, July 29th. JPMorgan Chase & Co. lifted their price objective on TG Therapeutics from $65.00 to $72.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Finally, Jefferies Financial Group restated a “buy” rating and set a $83.00 target price on shares of TG Therapeutics in a research note on Monday, June 22nd. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, TG Therapeutics currently has an average rating of “Hold” and a consensus price target of $63.00.

TG Therapeutics Trading Down 0.4%

NASDAQ:TGTX opened at $55.74 on Monday. The stock has a market cap of $8.53 billion, a price-to-earnings ratio of 20.34, a PEG 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. The company’s 50 day moving average price is $53.56 and its 200-day moving average price is $43.25. TG Therapeutics has a 52 week low of $26.76 and a 52 week high of $59.30.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TGTX. BlackRock Inc. purchased a new stake in shares of TG Therapeutics during the 2nd quarter valued at about $1,211,429,000. California State Teachers Retirement System lifted its stake in shares of TG Therapeutics by 5,233.8% in the 2nd quarter. California State Teachers Retirement System now owns 9,374,083 shares of the biopharmaceutical company’s stock worth $515,012,000 after purchasing an additional 9,198,333 shares during the period. Bank of America Corp DE purchased a new position in shares of TG Therapeutics in the second quarter worth approximately $71,960,000. Bank of New York Mellon Corp purchased a new position in shares of TG Therapeutics in the second quarter worth approximately $49,472,000. Finally, Man Group plc grew its position in TG Therapeutics by 621.5% during the third quarter. Man Group plc now owns 1,008,462 shares of the biopharmaceutical company’s stock valued at $36,431,000 after buying an additional 868,697 shares during the period. 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.