HC Wainwright Issues Positive Forecast for TG Therapeutics (NASDAQ:TGTX) Stock Price

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

Other research analysts have also issued reports about the company. Jefferies Financial Group reissued a “buy” rating and set a $83.00 target price on shares of TG Therapeutics in a report on Monday, June 22nd. Zacks Research raised shares of TG Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Bank of America upped their price objective on shares of TG Therapeutics from $17.00 to $20.00 and gave the company an “underperform” rating in a report on Tuesday, July 7th. Finally, Weiss Ratings raised shares of TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.33.

TG Therapeutics Price Performance

Shares of NASDAQ TGTX opened at $57.12 on Monday. The business’s 50 day moving average price is $46.18 and its two-hundred day moving average price is $36.34. The company has a market cap of $8.74 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 1.38 and a beta of 1.60. The company has a quick ratio of 5.12, a current ratio of 5.81 and a debt-to-equity ratio of 1.28. TG Therapeutics has a twelve month low of $25.28 and a twelve month 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 (EPS) 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 during the quarter, compared to the consensus estimate of $200.33 million. During the same quarter in the prior year, the company earned $0.03 EPS. TG Therapeutics’s quarterly revenue was up 69.5% on a year-over-year basis. On average, analysts predict that TG Therapeutics will post 1.51 EPS for the current year.

Hedge Funds Weigh In On TG Therapeutics

Large investors have recently made changes to their positions in the company. Danske Bank A S bought a new stake in TG Therapeutics in the 3rd quarter valued at $25,000. EverSource Wealth Advisors LLC grew its holdings in TG Therapeutics by 51.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the biopharmaceutical company’s stock valued at $35,000 after buying an additional 365 shares in the last quarter. Hantz Financial Services Inc. increased its position in TG Therapeutics by 82.7% during the 4th quarter. Hantz Financial Services Inc. now owns 1,237 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 560 shares during the period. Truvestments Capital LLC increased its position in TG Therapeutics by 172.4% during the 4th quarter. Truvestments Capital LLC now owns 1,621 shares of the biopharmaceutical company’s stock worth $48,000 after buying an additional 1,026 shares during the period. Finally, Kemnay Advisory Services Inc. acquired a new stake in shares of TG Therapeutics during the fourth quarter worth $52,000. 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.