JPMorgan Chase & Co. Issues Positive Forecast for TG Therapeutics (NASDAQ:TGTX) Stock Price

TG Therapeutics (NASDAQ:TGTX) had its price target raised by JPMorgan Chase & Co. from $65.00 to $72.00 in a research note published on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the biopharmaceutical company’s stock.

TGTX has been the subject of a number of other reports. B. Riley Financial upped their price target on TG Therapeutics from $55.00 to $86.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Weiss Ratings reissued a “hold (c+)” rating on shares of TG Therapeutics in a research note on Wednesday, July 29th. Bank of America upped their target price on TG Therapeutics from $17.00 to $20.00 and gave the company an “underperform” rating in a report on Tuesday, July 7th. HC Wainwright reaffirmed a “buy” rating and issued a $78.00 target price on shares of TG Therapeutics in a research note on Tuesday. Finally, Jefferies Financial Group reissued a “buy” rating and set a $83.00 price target on shares of TG Therapeutics in a research report on Monday, June 22nd. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $63.00.

TG Therapeutics Price Performance

Shares of NASDAQ TGTX opened at $49.76 on Friday. The firm has a 50-day simple moving average of $51.47 and a 200-day simple moving average of $39.55. The stock has a market capitalization of $7.62 billion, a price-to-earnings ratio of 18.16, a price-to-earnings-growth ratio of 1.64 and a beta of 1.62. The company has a quick ratio of 5.12, a current ratio of 4.27 and a debt-to-equity ratio of 1.23. TG Therapeutics has a 52 week low of $25.28 and a 52 week high of $59.30.

TG Therapeutics (NASDAQ:TGTX) last announced its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.26). The business had revenue of $240.34 million for the quarter, compared to analysts’ expectations of $229.77 million. TG Therapeutics had a net margin of 55.22% and a return on equity of 73.49%. The firm’s revenue was up 70.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.17 EPS. On average, equities analysts predict that TG Therapeutics will post 1.18 earnings per share for the current fiscal year.

Institutional Trading of TG Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in shares of TG Therapeutics in the 2nd quarter worth approximately $1,211,429,000. Bank of New York Mellon Corp acquired a new stake in TG Therapeutics in the 2nd quarter valued at approximately $49,472,000. Man Group plc increased its holdings in TG Therapeutics by 621.5% in the 3rd quarter. Man Group plc now owns 1,008,462 shares of the biopharmaceutical company’s stock valued at $36,431,000 after purchasing an additional 868,697 shares during the last quarter. BNP Paribas Financial Markets raised its position in TG Therapeutics by 856.6% in the fourth quarter. BNP Paribas Financial Markets now owns 683,653 shares of the biopharmaceutical company’s stock valued at $20,380,000 after purchasing an additional 612,189 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in TG Therapeutics by 129.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,084,855 shares of the biopharmaceutical company’s stock valued at $36,029,000 after purchasing an additional 612,068 shares during the period. 58.58% of the stock is currently owned by hedge funds and other 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.