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

Shares of TG Therapeutics, Inc. (NASDAQ:TGTX) have been given an average rating of “Moderate Buy” by the seven ratings firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $23.14.

A number of analysts recently weighed in on TGTX shares. JPMorgan Chase & Co. lowered their price target on shares of TG Therapeutics from $34.00 to $22.00 and set an “overweight” rating for the company in a report on Monday, August 7th. HC Wainwright raised their price objective on shares of TG Therapeutics from $34.00 to $41.00 and gave the company a “buy” rating in a research note on Tuesday, August 1st. B. Riley reaffirmed a “buy” rating and issued a $32.00 price objective (down from $42.00) on shares of TG Therapeutics in a research note on Tuesday, August 1st. The Goldman Sachs Group raised shares of TG Therapeutics from a “sell” rating to a “neutral” rating and reduced their price target for the stock from $16.00 to $12.00 in a research report on Wednesday, August 2nd. Finally, StockNews.com cut shares of TG Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, August 27th.

TG Therapeutics Stock Performance

NASDAQ TGTX opened at $10.61 on Friday. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of -8.35 and a beta of 2.02. The company has a 50 day moving average of $16.94 and a 200-day moving average of $20.39. The company has a current ratio of 2.87, a quick ratio of 2.45 and a debt-to-equity ratio of 2.42. TG Therapeutics has a 1-year low of $4.86 and a 1-year high of $35.67.

TG Therapeutics (NASDAQ:TGTX) last issued its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.08). The company had revenue of $16.07 million during the quarter, compared to analyst estimates of $17.39 million. TG Therapeutics had a negative net margin of 730.34% and a negative return on equity of 309.58%. The business’s revenue for the quarter was up 2606.1% on a year-over-year basis. During the same period in the prior year, the business earned ($0.30) EPS. On average, equities analysts forecast that TG Therapeutics will post -0.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Sagar Lonial sold 34,854 shares of the firm’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $23.37, for a total transaction of $814,537.98. Following the sale, the director now directly owns 93,878 shares in the company, valued at $2,193,928.86. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other TG Therapeutics news, CEO Michael S. Weiss purchased 100,000 shares of the stock in a transaction on Friday, August 11th. The shares were purchased at an average cost of $10.13 per share, for a total transaction of $1,013,000.00. Following the purchase, the chief executive officer now owns 12,073,021 shares of the company’s stock, valued at $122,299,702.73. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Sagar Lonial sold 34,854 shares of TG Therapeutics stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $23.37, for a total transaction of $814,537.98. Following the completion of the sale, the director now owns 93,878 shares in the company, valued at $2,193,928.86. The disclosure for this sale can be found here. 9.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TG Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TGTX. Tradition Wealth Management LLC raised its holdings in shares of TG Therapeutics by 27.6% in the 1st quarter. Tradition Wealth Management LLC now owns 8,243 shares of the biopharmaceutical company’s stock valued at $124,000 after purchasing an additional 1,785 shares during the period. LPL Financial LLC raised its holdings in shares of TG Therapeutics by 41.9% in the 4th quarter. LPL Financial LLC now owns 38,855 shares of the biopharmaceutical company’s stock valued at $460,000 after purchasing an additional 11,480 shares during the period. Profund Advisors LLC bought a new stake in shares of TG Therapeutics in the 1st quarter valued at about $1,360,000. Pier Capital LLC bought a new stake in shares of TG Therapeutics in the 1st quarter valued at about $3,511,000. Finally, ClariVest Asset Management LLC bought a new stake in shares of TG Therapeutics in the 1st quarter valued at about $569,000. 57.92% of the stock is currently owned by institutional investors and hedge funds.

TG Therapeutics Company Profile

TG Therapeutics, Inc, a commercial stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel treatments for B-cell diseases. 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.