TG Therapeutics (NASDAQ:TGTX) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of TG Therapeutics (NASDAQ:TGTX) from a hold rating to a strong-buy rating in a research note issued to investors on Wednesday morning,Zacks reports.

TGTX has been the topic of a number of other reports. HC Wainwright restated a “buy” rating and issued a $78.00 target price on shares of TG Therapeutics in a research note on Tuesday, September 1st. Bank of America raised their target price on shares of TG Therapeutics from $17.00 to $20.00 and gave the stock an “underperform” rating in a research report on Tuesday, July 7th. Weiss Ratings downgraded shares of TG Therapeutics from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 23rd. 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 report on Monday, July 27th. Finally, JPMorgan Chase & Co. boosted 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. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $63.00.

TG Therapeutics Trading Down 5.9%

NASDAQ TGTX opened at $57.98 on Wednesday. The stock has a market cap of $8.87 billion, a PE ratio of 21.16, a PEG ratio of 2.60 and a beta of 1.89. TG Therapeutics has a 12 month low of $26.76 and a 12 month high of $63.60. The company’s 50-day moving average price is $55.72 and its 200-day moving average price is $44.36. 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 (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 company had revenue of $240.34 million for 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%. The company’s quarterly revenue was up 70.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.17 EPS. Equities research analysts forecast that TG Therapeutics will post 0.92 earnings per share for the current year.

Insider Activity at TG Therapeutics

In related news, Director Laurence Charney sold 5,000 shares of TG Therapeutics stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $54.96, for a total value of $274,800.00. Following the completion of the sale, the director directly owned 168,640 shares in the company, valued at $9,268,454.40. The trade was a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 8.87% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in TG Therapeutics in the second quarter valued at about $1,211,429,000. Bank of America Corp DE lifted its position in shares of TG Therapeutics by 71.7% during the first quarter. Bank of America Corp DE now owns 1,461,302 shares of the biopharmaceutical company’s stock valued at $48,544,000 after buying an additional 610,195 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of TG Therapeutics by 129.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,084,855 shares of the biopharmaceutical company’s stock valued at $36,029,000 after buying an additional 612,068 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of TG Therapeutics during the second quarter valued at about $49,472,000. Finally, Wellington Management Group LLP boosted its holdings in shares of TG Therapeutics by 697.6% in the 2nd quarter. Wellington Management Group LLP now owns 478,265 shares of the biopharmaceutical company’s stock valued at $26,276,000 after buying an additional 418,300 shares in the last quarter. 58.58% of the stock is currently owned by institutional investors.

TG Therapeutics Company Profile

TG Therapeutics, Inc is a commercial-stage biopharmaceutical company focused on developing and delivering medicines for B-cell diseases, including multiple sclerosis and certain blood cancers. The company’s research and development programs are centered on therapies that target B cells and the immune system.

TG Therapeutics’ primary marketed product is BRIUMVI (ublituximab-xiiy), an anti-CD20 monoclonal antibody approved in the United States for the treatment of relapsing forms of multiple sclerosis in adults.