TG Therapeutics’ (TGTX) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of TG Therapeutics (NASDAQ:TGTX) in a research report released on Monday, January 8th. They currently have a $33.00 price target on the biopharmaceutical company’s stock.

“TG Announces Global License Agreement With Jiangsu Hengrui Medicine for Development of Novel BTK Inhibitors TG licenses novel BTK inhibitors that demonstrate superior selectivity to BTK in comparison to ibrutinib in the preclinical setting. On the morning of January 8, TG Therapeutics announced that it has entered into an exclusive global license agreement with Jiangsu Hengrui Medicine, pursuant to which TG will obtain worldwide rights, excluding Asia but including Japan, for the development of Hengrui’s BTK inhibitor program. The program includes TG-1701 and TG-1702, both of which are orally-available, covalently-bound BTK inhibitors.”,” the firm’s analyst commented.

Other equities research analysts have also issued research reports about the company. Raymond James Financial reaffirmed a buy rating on shares of TG Therapeutics in a report on Tuesday, December 12th. ValuEngine lowered TG Therapeutics from a hold rating to a sell rating in a research note on Monday, October 16th. B. Riley reissued a buy rating and set a $21.50 price target on shares of TG Therapeutics in a research note on Monday, December 11th. Finally, SunTrust Banks reissued a buy rating and set a $28.00 price target on shares of TG Therapeutics in a research note on Tuesday, October 3rd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $25.50.

Shares of TG Therapeutics (TGTX) traded down $0.77 on Monday, reaching $9.88. TG Therapeutics has a one year low of $4.10 and a one year high of $15.35. The firm has a market cap of $697.69, a price-to-earnings ratio of -5.12 and a beta of 1.30.

TG Therapeutics (NASDAQ:TGTX) last announced its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($0.48) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.43) by ($0.05). TG Therapeutics had a negative net margin of 73,217.77% and a negative return on equity of 151.21%. The business had revenue of $0.04 million during the quarter, compared to analysts’ expectations of $0.04 million. analysts expect that TG Therapeutics will post -1.87 EPS for the current year.

In related news, CFO Sean A. Power sold 32,006 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $8.50, for a total value of $272,051.00. Following the sale, the chief financial officer now owns 517,464 shares of the company’s stock, valued at approximately $4,398,444. The transaction was disclosed in a filing with the SEC, which is available through this link. 16.70% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of TGTX. Schwab Charles Investment Management Inc. raised its holdings in TG Therapeutics by 22.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 87,950 shares of the biopharmaceutical company’s stock valued at $884,000 after acquiring an additional 15,900 shares during the last quarter. Rhumbline Advisers raised its holdings in TG Therapeutics by 25.2% in the 2nd quarter. Rhumbline Advisers now owns 52,602 shares of the biopharmaceutical company’s stock valued at $529,000 after acquiring an additional 10,585 shares during the last quarter. State of Wisconsin Investment Board acquired a new position in TG Therapeutics in the 2nd quarter valued at $412,000. Bank of New York Mellon Corp raised its holdings in TG Therapeutics by 9.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 297,176 shares of the biopharmaceutical company’s stock valued at $2,987,000 after acquiring an additional 25,297 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in TG Therapeutics by 14.9% in the 2nd quarter. Legal & General Group Plc now owns 11,264 shares of the biopharmaceutical company’s stock valued at $114,000 after acquiring an additional 1,463 shares during the last quarter. Institutional investors own 50.41% of the company’s stock.

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TG Therapeutics Company Profile

TG Therapeutics, Inc (TG) is a biopharmaceutical company focused on the acquisition, development and commercialization of treatments for B-cell malignancies and autoimmune diseases. As of December 31, 2016, the Company was developing two therapies targeting hematological malignancies. TG-1101 (ublituximab) is a glycoengineered monoclonal antibody that targets a specific epitope on the cluster of differentiation (CD20) antigen found on mature B-lymphocytes.

Analyst Recommendations for TG Therapeutics (NASDAQ:TGTX)

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