TG Therapeutics, Inc. (NASDAQ:TGTX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of TG Therapeutics, Inc. (NASDAQ:TGTX) have received a consensus rating of “Moderate Buy” from the five research firms that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $50.25.

A number of research firms recently commented on TGTX. JPMorgan Chase & Co. lifted their price objective on TG Therapeutics from $46.00 to $49.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of TG Therapeutics in a research report on Monday. HC Wainwright began coverage on TG Therapeutics in a research report on Monday, October 6th. They set a “buy” rating and a $60.00 target price on the stock. Wall Street Zen raised TG Therapeutics from a “hold” rating to a “buy” rating in a research note on Sunday, December 14th. Finally, B. Riley upgraded TG Therapeutics to a “strong-buy” rating in a report on Tuesday, November 4th.

Insider Buying and Selling at TG Therapeutics

In related news, Director Yann Echelard sold 5,000 shares of the business’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $32.57, for a total transaction of $162,850.00. Following the transaction, the director owned 223,816 shares in the company, valued at $7,289,687.12. The trade was a 2.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 10.64% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TG Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of TGTX. HighTower Advisors LLC increased its stake in TG Therapeutics by 53.5% in the 1st quarter. HighTower Advisors LLC now owns 22,891 shares of the biopharmaceutical company’s stock valued at $903,000 after buying an additional 7,979 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in TG Therapeutics by 26.8% during the first quarter. Smartleaf Asset Management LLC now owns 2,416 shares of the biopharmaceutical company’s stock worth $96,000 after buying an additional 511 shares during the last quarter. SVB Wealth LLC purchased a new stake in TG Therapeutics during the first quarter worth about $37,000. Jump Financial LLC bought a new stake in TG Therapeutics in the first quarter worth about $1,936,000. Finally, Driehaus Capital Management LLC purchased a new position in TG Therapeutics in the first quarter valued at about $30,545,000. 58.58% of the stock is owned by institutional investors.

TG Therapeutics Trading Up 1.1%

Shares of TGTX stock opened at $31.07 on Friday. The company has a quick ratio of 2.89, a current ratio of 3.82 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $4.93 billion, a P/E ratio of 11.18 and a beta of 2.01. TG Therapeutics has a twelve month low of $25.28 and a twelve month high of $46.48. The stock’s fifty day simple moving average is $32.16 and its 200 day simple moving average is $33.32.

TG Therapeutics (NASDAQ:TGTX) last released its quarterly earnings results on Monday, November 3rd. The biopharmaceutical company reported $2.43 earnings per share for the quarter, topping the consensus estimate of $0.24 by $2.19. TG Therapeutics had a return on equity of 133.24% and a net margin of 84.13%.The company had revenue of $161.71 million for the quarter, compared to analysts’ expectations of $152.12 million. During the same period in the previous year, the business posted $0.02 earnings per share. The business’s quarterly revenue was up 92.7% compared to the same quarter last year. As a group, sell-side analysts predict that TG Therapeutics will post 0.08 EPS for the current fiscal 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.