TG Therapeutics (NASDAQ:TGTX) Receives Buy Rating from HC Wainwright

TG Therapeutics (NASDAQ:TGTX)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a research report issued on Wednesday,Benzinga reports. They currently have a $70.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s target price suggests a potential upside of 76.12% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Weiss Ratings raised TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. reduced their price target on shares of TG Therapeutics from $49.00 to $46.00 and set an “overweight” rating on the stock in a research report on Monday, February 2nd. Wall Street Zen lowered shares of TG Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Finally, Zacks Research cut shares of TG Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, TG Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $52.50.

TG Therapeutics Stock Performance

TGTX stock traded up $0.02 during midday trading on Wednesday, reaching $39.75. 813,269 shares of the company’s stock traded hands, compared to its average volume of 2,065,873. The company has a current ratio of 5.81, a quick ratio of 5.12 and a debt-to-equity ratio of 1.28. TG Therapeutics has a 52-week low of $25.28 and a 52-week high of $44.65. The stock has a market cap of $6.08 billion, a P/E ratio of 13.89 and a beta of 1.68. The stock’s 50-day moving average is $35.70 and its 200 day moving average is $32.18.

TG Therapeutics (NASDAQ:TGTX) last issued its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.11). The business had revenue of $204.92 million for the quarter, compared to analysts’ expectations of $200.33 million. TG Therapeutics had a return on equity of 88.73% and a net margin of 65.95%.The company’s revenue was up 69.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.03 EPS. As a group, analysts anticipate that TG Therapeutics will post 1.31 EPS for the current year.

Institutional Trading of TG Therapeutics

A number of institutional investors have recently modified their holdings of the company. Danske Bank A S acquired a new position in shares of TG Therapeutics during the third quarter worth $25,000. Optiver Holding B.V. raised its position in shares of TG Therapeutics by 3,485.7% in the 3rd 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 during the last quarter. Bessemer Group Inc. boosted its stake in TG Therapeutics by 117.1% in the 3rd 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. EverSource Wealth Advisors LLC grew its position in TG Therapeutics by 51.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the biopharmaceutical company’s stock worth $35,000 after purchasing an additional 365 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its holdings in shares of TG Therapeutics by 82.7% in the fourth quarter. Hantz Financial Services Inc. now owns 1,237 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 560 shares during the last quarter. 58.58% of the stock is currently owned by institutional investors.

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.