HC Wainwright Forecasts Strong Price Appreciation for TG Therapeutics (NASDAQ:TGTX) Stock

TG Therapeutics (NASDAQ:TGTX) had its target price boosted by equities researchers at HC Wainwright from $70.00 to $77.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s target price would indicate a potential upside of 34.80% from the company’s current price.

TGTX has been the topic of a number of other research reports. Zacks Research raised shares of TG Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. Weiss Ratings upgraded shares of TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. Bank of America raised their price objective on shares of TG Therapeutics from $17.00 to $20.00 and gave the stock an “underperform” rating in a report on Tuesday, July 7th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $83.00 target price on shares of TG Therapeutics in a research note on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, TG Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $53.33.

TG Therapeutics Price Performance

Shares of TG Therapeutics stock opened at $57.12 on Monday. The company has a market capitalization of $8.74 billion, a P/E ratio of 19.97, a price-to-earnings-growth ratio of 1.38 and a beta of 1.60. The company has a debt-to-equity ratio of 1.28, a current ratio of 5.81 and a quick ratio of 5.12. The business has a 50-day moving average of $46.18 and a two-hundred day moving average of $36.34. TG Therapeutics has a 1 year low of $25.28 and a 1 year high of $59.30.

TG Therapeutics (NASDAQ:TGTX) last released its quarterly earnings data 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). TG Therapeutics had a net margin of 65.95% and a return on equity of 88.73%. The business had revenue of $204.92 million for the quarter, compared to the consensus estimate of $200.33 million. During the same quarter last year, the firm earned $0.03 EPS. The company’s revenue for the quarter was up 69.5% on a year-over-year basis. As a group, equities analysts predict that TG Therapeutics will post 1.51 EPS for the current year.

Institutional Trading of TG Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Congress Asset Management Co. bought a new stake in shares of TG Therapeutics during the 4th quarter worth approximately $57,307,000. Nordea Investment Management AB acquired a new stake in shares of TG Therapeutics in the 4th quarter valued at approximately $2,356,000. Penn Capital Management Company LLC grew its stake in shares of TG Therapeutics by 17.6% in the third quarter. Penn Capital Management Company LLC now owns 521,260 shares of the biopharmaceutical company’s stock valued at $18,877,000 after buying an additional 77,895 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in TG Therapeutics by 56.1% during the third quarter. JPMorgan Chase & Co. now owns 227,934 shares of the biopharmaceutical company’s stock worth $8,234,000 after buying an additional 81,907 shares during the last quarter. Finally, M&T Bank Corp acquired a new position in TG Therapeutics during the fourth quarter worth $3,750,000. Institutional investors own 58.58% of the company’s stock.

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.