Brokerages Set TG Therapeutics, Inc. (NASDAQ:TGTX) Target Price at $53.33

Shares of TG Therapeutics, Inc. (NASDAQ:TGTX) have received an average recommendation of “Moderate Buy” from the nine analysts that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $53.3333.

TGTX has been the topic of a number of research analyst reports. HC Wainwright raised their price objective on shares of TG Therapeutics from $70.00 to $77.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Weiss Ratings upgraded TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 1st. Zacks Research raised TG Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. Jefferies Financial Group reiterated a “buy” rating and set a $83.00 price target on shares of TG Therapeutics in a research report on Monday, June 22nd. Finally, Bank of America upped their price objective on TG Therapeutics from $17.00 to $20.00 and gave the company an “underperform” rating in a report on Tuesday, July 7th.

Institutional Investors Weigh In On TG Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of TGTX. EverSource Wealth Advisors LLC increased its holdings in shares of TG Therapeutics by 51.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the biopharmaceutical company’s stock valued at $35,000 after acquiring an additional 365 shares during the last quarter. Maryland State Retirement & Pension System lifted its holdings in TG Therapeutics by 2.0% in the 4th quarter. Maryland State Retirement & Pension System now owns 19,899 shares of the biopharmaceutical company’s stock worth $593,000 after purchasing an additional 393 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in TG Therapeutics by 1.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,406 shares of the biopharmaceutical company’s stock worth $1,135,000 after purchasing an additional 441 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in TG Therapeutics by 16.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,147 shares of the biopharmaceutical company’s stock worth $94,000 after purchasing an additional 454 shares during the period. Finally, HB Wealth Management LLC boosted its position in TG Therapeutics by 6.7% during the first quarter. HB Wealth Management LLC now owns 7,514 shares of the biopharmaceutical company’s stock worth $250,000 after purchasing an additional 475 shares during the period. 58.58% of the stock is owned by institutional investors and hedge funds.

TG Therapeutics Stock Performance

TGTX stock opened at $53.96 on Tuesday. The company has a market capitalization of $8.26 billion, a P/E ratio of 18.87, a PEG ratio of 1.38 and a beta of 1.60. The company has a 50-day simple moving average of $47.96 and a 200 day simple moving average of $37.37. TG Therapeutics has a fifty-two week low of $25.28 and a fifty-two week high of $59.30. The company has a quick ratio of 5.12, a current ratio of 5.81 and a debt-to-equity ratio of 1.28.

TG Therapeutics (NASDAQ:TGTX) last released its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.11). The company had revenue of $204.92 million for the quarter, compared to analyst estimates of $200.33 million. TG Therapeutics had a net margin of 65.95% and a return on equity of 88.73%. The firm’s quarterly revenue was up 69.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.03 EPS. Sell-side analysts predict that TG Therapeutics will post 1.46 earnings per share for the current fiscal year.

TG Therapeutics Company Profile

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.