JPMorgan Chase & Co. Boosts TG Therapeutics (NASDAQ:TGTX) Price Target to $43.00

TG Therapeutics (NASDAQ:TGTX) had its price objective raised by JPMorgan Chase & Co. from $30.00 to $43.00 in a report released on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the biopharmaceutical company’s stock.

A number of other research firms also recently commented on TGTX. B. Riley increased their target price on shares of TG Therapeutics from $29.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. The Goldman Sachs Group increased their target price on shares of TG Therapeutics from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. HC Wainwright raised their price objective on shares of TG Therapeutics from $49.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, TD Cowen assumed coverage on shares of TG Therapeutics in a research report on Tuesday, October 29th. They set a “buy” rating and a $50.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $40.67.

TG Therapeutics Price Performance

Shares of TGTX opened at $35.00 on Monday. TG Therapeutics has a twelve month low of $12.32 and a twelve month high of $36.84. The firm’s fifty day simple moving average is $26.19 and its 200-day simple moving average is $22.04. The firm has a market capitalization of $5.45 billion, a price-to-earnings ratio of -349.97 and a beta of 2.19. The company has a current ratio of 4.59, a quick ratio of 3.91 and a debt-to-equity ratio of 1.27.

TG Therapeutics (NASDAQ:TGTX) last posted its earnings results on Monday, November 4th. The biopharmaceutical company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The company had revenue of $83.90 million during the quarter, compared to analysts’ expectations of $81.68 million. TG Therapeutics had a negative net margin of 5.42% and a negative return on equity of 8.32%. The company’s quarterly revenue was down 49.4% on a year-over-year basis. During the same period last year, the business earned $0.73 earnings per share. Equities analysts forecast that TG Therapeutics will post 0.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Sagar Lonial sold 5,000 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $30.44, for a total value of $152,200.00. Following the completion of the sale, the director now owns 100,195 shares in the company, valued at approximately $3,049,935.80. This trade represents a 4.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.50% of the stock is currently owned by insiders.

Institutional Trading of TG Therapeutics

Several hedge funds have recently made changes to their positions in TGTX. State Street Corp lifted its stake in shares of TG Therapeutics by 35.8% in the 3rd quarter. State Street Corp now owns 9,094,158 shares of the biopharmaceutical company’s stock worth $212,712,000 after acquiring an additional 2,398,015 shares during the period. Marshall Wace LLP acquired a new stake in shares of TG Therapeutics in the second quarter valued at about $36,501,000. Principal Financial Group Inc. lifted its stake in shares of TG Therapeutics by 1,549.4% in the third quarter. Principal Financial Group Inc. now owns 772,188 shares of the biopharmaceutical company’s stock valued at $18,061,000 after purchasing an additional 725,371 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of TG Therapeutics in the second quarter valued at about $10,423,000. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of TG Therapeutics in the second quarter valued at about $8,698,000. Institutional investors and hedge funds own 58.58% of the company’s stock.

About TG Therapeutics

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.