StockNews.com Upgrades TG Therapeutics (NASDAQ:TGTX) to “Hold”

TG Therapeutics (NASDAQ:TGTX) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

A number of other equities analysts also recently weighed in on TGTX. TD Cowen started coverage on shares of TG Therapeutics in a research note on Tuesday, October 29th. They set a “buy” rating and a $50.00 price target on the stock. The Goldman Sachs Group raised their price objective on TG Therapeutics from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. HC Wainwright lifted their price objective on TG Therapeutics from $49.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. raised their price target on shares of TG Therapeutics from $30.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $40.67.

TG Therapeutics Price Performance

TGTX stock remained flat at $28.00 during midday trading on Tuesday. 2,930,795 shares of the company’s stock traded hands, compared to its average volume of 2,870,394. The business has a 50-day moving average price of $31.30 and a 200-day moving average price of $25.23. The company has a current ratio of 4.59, a quick ratio of 3.91 and a debt-to-equity ratio of 1.27. The company has a market cap of $4.36 billion, a price-to-earnings ratio of -279.97 and a beta of 2.24. TG Therapeutics has a 12-month low of $12.84 and a 12-month high of $36.84.

TG Therapeutics (NASDAQ:TGTX) last released its earnings results on Monday, November 4th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). The business had revenue of $83.90 million for the quarter, compared to analysts’ expectations of $81.68 million. TG Therapeutics had a negative return on equity of 8.32% and a negative net margin of 5.42%. The business’s quarterly revenue was down 49.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.73 earnings per share. As a group, sell-side analysts anticipate that TG Therapeutics will post 0.17 EPS for the current year.

Insider Buying and Selling

In related news, CFO Sean A. Power sold 10,021 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $28.53, for a total value of $285,899.13. Following the transaction, the chief financial officer now owns 660,611 shares in the company, valued at approximately $18,847,231.83. The trade was a 1.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sagar Lonial sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $30.44, for a total value of $152,200.00. Following the sale, the director now owns 100,195 shares of the company’s stock, valued at approximately $3,049,935.80. This trade represents a 4.75 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,358 shares of company stock valued at $781,497. Corporate insiders own 10.50% of the company’s stock.

Institutional Trading of TG Therapeutics

Several institutional investors have recently added to or reduced their stakes in TGTX. GAMMA Investing LLC grew its holdings in TG Therapeutics by 562.4% during the 4th quarter. GAMMA Investing LLC now owns 2,557 shares of the biopharmaceutical company’s stock worth $77,000 after acquiring an additional 2,171 shares in the last quarter. JPMorgan Chase & Co. grew its stake in TG Therapeutics by 60.0% in the third quarter. JPMorgan Chase & Co. now owns 720,798 shares of the biopharmaceutical company’s stock worth $16,859,000 after purchasing an additional 270,286 shares in the last quarter. Principal Financial Group Inc. increased its holdings in TG Therapeutics by 1,549.4% in the third quarter. Principal Financial Group Inc. now owns 772,188 shares of the biopharmaceutical company’s stock valued at $18,061,000 after buying an additional 725,371 shares during the last quarter. Franklin Resources Inc. raised its stake in TG Therapeutics by 3.8% during the third quarter. Franklin Resources Inc. now owns 128,985 shares of the biopharmaceutical company’s stock valued at $2,945,000 after buying an additional 4,756 shares in the last quarter. Finally, Synovus Financial Corp bought a new position in TG Therapeutics during the 3rd quarter worth approximately $465,000. 58.58% of the stock is owned by institutional investors and hedge funds.

About TG Therapeutics

TG Therapeutics, Inc, a commercial stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel treatments for B-cell mediated diseases in the United States and internationally. It provides BRIUMVI, an anti-CD20 monoclonal antibody for the treatment of adult patients with relapsing forms of multiple sclerosis (RMS), including clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease in adults.