TG Therapeutics (NASDAQ:TGTX) Raised to “Buy” at Wall Street Zen

TG Therapeutics (NASDAQ:TGTX) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Sunday.

Other research analysts also recently issued reports about the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of TG Therapeutics in a research report on Monday, December 8th. HC Wainwright began coverage on shares of TG Therapeutics in a report on Monday, October 6th. They issued a “buy” rating and a $60.00 target price on the stock. JPMorgan Chase & Co. upped their target price on shares of TG Therapeutics from $46.00 to $49.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Finally, B. Riley upgraded TG Therapeutics to a “strong-buy” rating in a research report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, TG Therapeutics has an average rating of “Moderate Buy” and an average price target of $50.25.

TG Therapeutics Price Performance

Shares of NASDAQ:TGTX opened at $31.41 on Friday. The firm has a market cap of $4.99 billion, a price-to-earnings ratio of 11.30 and a beta of 2.01. The firm has a fifty day moving average price of $32.80 and a 200 day moving average price of $33.63. TG Therapeutics has a fifty-two week low of $25.28 and a fifty-two week high of $46.48. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.89 and a current ratio of 3.82.

TG Therapeutics (NASDAQ:TGTX) last announced its quarterly earnings results on Monday, November 3rd. The biopharmaceutical company reported $2.43 EPS for the quarter, topping the consensus estimate of $0.24 by $2.19. The business had revenue of $161.71 million for the quarter, compared to analysts’ expectations of $152.12 million. TG Therapeutics had a net margin of 84.13% and a return on equity of 133.24%. The business’s quarterly revenue was up 92.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.02 EPS. As a group, sell-side analysts expect that TG Therapeutics will post 0.08 earnings per share for the current fiscal year.

Insider Buying and Selling at TG Therapeutics

In other news, Director Yann Echelard sold 5,000 shares of the stock in a transaction on Monday, November 24th. The stock was sold at an average price of $32.57, for a total transaction of $162,850.00. Following the transaction, the director owned 223,816 shares of the company’s stock, valued at approximately $7,289,687.12. This represents a 2.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 10.64% 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. Ameritas Advisory Services LLC purchased a new position in TG Therapeutics during the second quarter valued at approximately $25,000. Johnson Financial Group Inc. bought a new position in shares of TG Therapeutics in the 2nd quarter worth $25,000. Danske Bank A S purchased a new stake in shares of TG Therapeutics during the 3rd quarter worth $25,000. Optiver Holding B.V. boosted its position in TG Therapeutics by 3,485.7% during the third quarter. Optiver Holding B.V. now owns 753 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 732 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in TG Therapeutics by 117.1% in the third quarter. Bessemer Group Inc. now owns 901 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 486 shares in the last quarter. 58.58% of the stock is currently owned by institutional investors.

TG Therapeutics Company Profile

TG Therapeutics, Inc, a commercial stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel treatments for B-cell mediated diseases in the United States and internationally. It provides BRIUMVI, an anti-CD20 monoclonal antibody for the treatment of adult patients with relapsing forms of multiple sclerosis (RMS), including clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease in adults.