TG Therapeutics, Inc. (NASDAQ:TGTX) Receives $53.33 Average Price Target from Brokerages

Shares of TG Therapeutics, Inc. (NASDAQ:TGTX) have been given a consensus rating of “Moderate Buy” by the nine ratings firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $53.3333.

TGTX has been the subject of several recent analyst reports. Zacks Research raised shares of TG Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. Bank of America upped their price objective on TG Therapeutics from $17.00 to $20.00 and gave the stock an “underperform” rating in a research note on Tuesday, July 7th. Weiss Ratings upgraded TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 1st. HC Wainwright lifted their target price on TG Therapeutics from $70.00 to $77.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $83.00 price target on shares of TG Therapeutics in a report on Monday, June 22nd.

Hedge Funds Weigh In On TG Therapeutics

Hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its position in shares of 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 purchasing an additional 365 shares in the last quarter. Maryland State Retirement & Pension System grew its position in shares of TG Therapeutics by 2.0% during the fourth quarter. Maryland State Retirement & Pension System now owns 19,899 shares of the biopharmaceutical company’s stock worth $593,000 after buying an additional 393 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of TG Therapeutics by 1.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,406 shares of the biopharmaceutical company’s stock worth $1,135,000 after buying an additional 441 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of TG Therapeutics by 16.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,147 shares of the biopharmaceutical company’s stock worth $94,000 after buying an additional 454 shares during the last quarter. Finally, HB Wealth Management LLC increased its stake in shares of TG Therapeutics by 6.7% in the first quarter. HB Wealth Management LLC now owns 7,514 shares of the biopharmaceutical company’s stock worth $250,000 after buying an additional 475 shares during the last quarter. Hedge funds and other institutional investors own 58.58% of the company’s stock.

TG Therapeutics Price Performance

Shares of NASDAQ:TGTX opened at $54.87 on Tuesday. The company has a debt-to-equity ratio of 1.28, a current ratio of 5.81 and a quick ratio of 5.12. TG Therapeutics has a 1-year low of $25.28 and a 1-year high of $59.30. The company has a market capitalization of $8.40 billion, a P/E ratio of 19.19, a P/E/G ratio of 1.38 and a beta of 1.60. The firm’s 50 day simple moving average is $47.75 and its two-hundred day simple moving average is $37.16.

TG Therapeutics (NASDAQ:TGTX) last posted its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.11). The firm had revenue of $204.92 million during the quarter, compared to the consensus estimate of $200.33 million. TG Therapeutics had a return on equity of 88.73% and a net margin of 65.95%.The business’s revenue for the quarter was up 69.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.03 earnings per share. Research analysts expect that TG Therapeutics will post 1.46 EPS for the current fiscal year.

TG Therapeutics Company Profile

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.