TG Therapeutics (NASDAQ:TGTX) Given New $46.00 Price Target at JPMorgan Chase & Co.

TG Therapeutics (NASDAQ:TGTX) had its price target lowered by JPMorgan Chase & Co. from $49.00 to $46.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an overweight rating on the biopharmaceutical company’s stock.

Other equities analysts have also issued research reports about the company. Cantor Fitzgerald reissued an “overweight” rating on shares of TG Therapeutics in a report on Wednesday, January 14th. HC Wainwright assumed coverage on TG Therapeutics in a research report on Monday, October 6th. They set a “buy” rating and a $60.00 price objective for the company. The Goldman Sachs Group raised their target price on TG Therapeutics from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, January 15th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TG Therapeutics in a report on Monday, December 29th. Finally, B. Riley raised shares of TG Therapeutics to a “strong-buy” rating in a report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.00.

TG Therapeutics Trading Down 0.8%

TGTX opened at $29.18 on Monday. The business has a fifty day moving average price of $30.68 and a 200 day moving average price of $31.94. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.82 and a quick ratio of 2.89. TG Therapeutics has a 12 month low of $25.28 and a 12 month high of $46.48. The stock has a market capitalization of $4.63 billion, a price-to-earnings ratio of 10.50 and a beta of 1.85.

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

Insider Buying and Selling at TG Therapeutics

In other news, Director Yann Echelard sold 5,000 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $32.57, for a total value of $162,850.00. Following the completion of the sale, the director directly owned 223,816 shares of the company’s stock, valued at approximately $7,289,687.12. This represents a 2.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 10.64% of the company’s stock.

Institutional Trading of TG Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Ameritas Advisory Services LLC purchased a new position in TG Therapeutics during the 2nd quarter worth $25,000. Johnson Financial Group Inc. acquired a new stake in shares of TG Therapeutics during the second quarter worth about $25,000. Danske Bank A S purchased a new position in shares of TG Therapeutics during the third quarter worth about $25,000. Optiver Holding B.V. grew its holdings in shares of TG Therapeutics by 3,485.7% during the third quarter. Optiver Holding B.V. now owns 753 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 732 shares during the last quarter. Finally, Bessemer Group Inc. increased its position in TG Therapeutics by 117.1% in the 3rd quarter. Bessemer Group Inc. now owns 901 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 486 shares during the period. Hedge funds and other institutional investors own 58.58% of the company’s stock.

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.