TG Therapeutics (NASDAQ:TGTX) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of TG Therapeutics (NASDAQ:TGTX) from a hold rating to a buy rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

TGTX has been the subject of several other reports. B. Riley Financial increased their target price on TG Therapeutics from $55.00 to $86.00 and gave the company a “buy” rating in a report on Monday, July 27th. HC Wainwright restated a “buy” rating and issued a $78.00 price objective on shares of TG Therapeutics in a research report on Tuesday, September 1st. Zacks Research raised shares of TG Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 4th. Weiss Ratings upgraded shares of TG Therapeutics from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, November 4th. Finally, JPMorgan Chase & Co. increased their target price on shares of TG Therapeutics from $65.00 to $72.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, TG Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $63.00.

TG Therapeutics Price Performance

Shares of NASDAQ TGTX traded down $0.05 during midday trading on Friday, hitting $64.51. 1,095,871 shares of the company’s stock were exchanged, compared to its average volume of 2,131,002. TG Therapeutics has a 12-month low of $26.76 and a 12-month high of $68.03. The company has a current ratio of 4.50, a quick ratio of 3.72 and a debt-to-equity ratio of 1.30. The company has a market cap of $9.75 billion, a price-to-earnings ratio of 97.74, a PEG ratio of 5.08 and a beta of 1.89. The business’s fifty day moving average price is $56.69 and its two-hundred day moving average price is $45.33.

TG Therapeutics (NASDAQ:TGTX) last posted its quarterly earnings data on Monday, November 9th. The biopharmaceutical company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The firm had revenue of $259.94 million during the quarter, compared to analysts’ expectations of $245.47 million. TG Therapeutics had a return on equity of 18.82% and a net margin of 11.81%. TG Therapeutics’s revenue for the quarter was up 60.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.43 earnings per share. As a group, research analysts forecast that TG Therapeutics will post 1.10 EPS for the current fiscal year.

Insider Activity

In related news, Director Laurence Charney sold 5,000 shares of the business’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $54.96, for a total transaction of $274,800.00. Following the transaction, the director 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.87% of the stock is owned by corporate insiders.

Institutional Trading of TG Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP boosted its position in TG Therapeutics by 318.0% during the 3rd quarter. Marshall Wace LLP now owns 24,070 shares of the biopharmaceutical company’s stock valued at $1,343,000 after acquiring an additional 18,312 shares in the last quarter. Norris Financial Group LLC bought a new position in shares of TG Therapeutics in the 3rd quarter worth approximately $607,000. First Trust Advisors LP raised its position in shares of TG Therapeutics by 1,053.0% in the 3rd quarter. First Trust Advisors LP now owns 1,921,540 shares of the biopharmaceutical company’s stock worth $107,184,000 after acquiring an additional 1,754,886 shares in the last quarter. Resona Asset Management Co. Ltd. raised its position in shares of TG Therapeutics by 92.1% in the 3rd quarter. Resona Asset Management Co. Ltd. now owns 19,566 shares of the biopharmaceutical company’s stock worth $1,091,000 after acquiring an additional 9,380 shares in the last quarter. Finally, Private Advisor Group LLC purchased a new position in shares of TG Therapeutics in the 3rd quarter valued at approximately $265,000. 58.58% of the stock is currently owned by hedge funds and other institutional investors.

TG Therapeutics Company Profile

TG Therapeutics is a biopharmaceutical company focused on developing and commercializing treatments for B-cell diseases, including autoimmune disorders and blood cancers. Its research has centered on therapies that target B cells, a type of immune cell involved in these conditions. The company’s marketed product, BRIUMVI (ublituximab-xiiy), is an anti-CD20 monoclonal antibody approved in the United States to treat adults with relapsing forms of multiple sclerosis. TG Therapeutics also has investigated other drug candidates and combinations for immune-related and hematologic diseases.