TG Therapeutics, Inc. (NASDAQ:TGTX) Given Average Rating of “Hold” by Analysts

TG Therapeutics, Inc. (NASDAQ:TGTX) has been assigned an average recommendation of “Hold” from the nine ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $63.00.

A number of analysts recently issued reports on TGTX shares. Bank of America increased their target price on shares of TG Therapeutics from $17.00 to $20.00 and gave the stock an “underperform” rating in a research report on Tuesday, July 7th. B. Riley Financial lifted their target price on TG Therapeutics from $55.00 to $86.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Jefferies Financial Group restated a “buy” rating and issued a $83.00 price target on shares of TG Therapeutics in a research note on Monday, June 22nd. JPMorgan Chase & Co. upped their price objective on TG Therapeutics from $65.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of TG Therapeutics in a report on Wednesday, July 29th.

Institutional Trading of TG Therapeutics

Hedge funds have recently bought and sold shares of the company. Royal Bank of Canada boosted its position in shares of TG Therapeutics by 16.4% during the first quarter. Royal Bank of Canada now owns 75,692 shares of the biopharmaceutical company’s stock worth $2,985,000 after buying an additional 10,660 shares during the period. NewEdge Advisors LLC boosted its stake in TG Therapeutics by 9.6% during the first quarter. NewEdge Advisors LLC now owns 7,593 shares of the biopharmaceutical company’s stock valued at $299,000 after buying an additional 665 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of TG Therapeutics by 21.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,919,416 shares of the biopharmaceutical company’s stock worth $75,683,000 after purchasing an additional 345,059 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in TG Therapeutics by 5.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 287,059 shares of the biopharmaceutical company’s stock worth $11,319,000 after buying an additional 14,689 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of TG Therapeutics by 86.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,237 shares of the biopharmaceutical company’s stock worth $45,000 after acquiring an additional 573 shares during the last quarter. 58.58% of the stock is currently owned by institutional investors.

TG Therapeutics Stock Up 3.3%

Shares of NASDAQ:TGTX opened at $56.09 on Wednesday. TG Therapeutics has a 12-month low of $26.76 and a 12-month high of $59.30. The stock’s 50-day moving average price is $53.41 and its two-hundred day moving average price is $42.28. The firm has a market cap of $8.59 billion, a price-to-earnings ratio of 20.47, a PEG ratio of 2.33 and a beta of 1.62. The company has a current ratio of 4.27, a quick ratio of 3.72 and a debt-to-equity ratio of 1.23.

TG Therapeutics (NASDAQ:TGTX) last posted its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.26). TG Therapeutics had a return on equity of 73.49% and a net margin of 55.22%.The company had revenue of $240.34 million for the quarter, compared to analysts’ expectations of $229.77 million. During the same period in the prior year, the business earned $0.17 EPS. The business’s revenue for the quarter was up 70.2% on a year-over-year basis. On average, research analysts forecast that TG Therapeutics will post 0.92 EPS for the current year.

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.