TG Therapeutics (NASDAQ:TGTX) Lowered to “Strong Sell” Rating by Zacks Research

TG Therapeutics (NASDAQ:TGTX) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Monday, Zacks reports.

Several other equities research analysts have also recently commented on the stock. JPMorgan Chase & Co. raised their target price on shares of TG Therapeutics from $65.00 to $72.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. HC Wainwright reissued a “buy” rating and issued a $78.00 price target on shares of TG Therapeutics in a research note on Tuesday, September 1st. B. Riley Financial raised their price objective on shares of TG Therapeutics from $55.00 to $86.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Bank of America upped their target price on TG Therapeutics from $17.00 to $20.00 and gave the stock an “underperform” rating in a report on Tuesday, July 7th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $83.00 target price on shares of TG Therapeutics in a research note on Monday, June 22nd. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $63.00.

TG Therapeutics Price Performance

Shares of TG Therapeutics stock opened at $55.74 on Monday. The business has a 50 day moving average of $53.56 and a 200 day moving average of $43.25. TG Therapeutics has a 52 week low of $26.76 and a 52 week high of $59.30. The company has a market cap of $8.53 billion, a PE ratio of 20.34, a P/E/G ratio of 2.40 and a beta of 1.67. The company has a quick ratio of 3.72, a current ratio of 4.27 and a debt-to-equity ratio of 1.23.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Danske Bank A S bought a new stake in TG Therapeutics during the third quarter worth about $25,000. EverSource Wealth Advisors LLC increased its stake in shares of TG Therapeutics by 51.9% during the first 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. Hantz Financial Services Inc. increased its stake in shares of TG Therapeutics by 82.7% during the fourth quarter. Hantz Financial Services Inc. now owns 1,237 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 560 shares in the last quarter. Truvestments Capital LLC lifted its holdings in shares of TG Therapeutics by 172.4% during the fourth quarter. Truvestments Capital LLC now owns 1,621 shares of the biopharmaceutical company’s stock valued at $48,000 after purchasing an additional 1,026 shares during the last quarter. Finally, Kemnay Advisory Services Inc. purchased a new position in shares of TG Therapeutics during the fourth quarter valued at approximately $52,000. 58.58% of the stock is owned by hedge funds and other institutional investors.

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.