TG Therapeutics (NASDAQ:TGTX) Downgraded by Wall Street Zen to “Hold”

TG Therapeutics (NASDAQ:TGTX) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other research analysts also recently weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of TG Therapeutics in a research report on Wednesday, January 14th. The Goldman Sachs Group raised their price objective on TG Therapeutics from $37.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, January 15th. B. Riley Financial upgraded TG Therapeutics to a “strong-buy” rating in a research report on Tuesday, November 4th. JPMorgan Chase & Co. cut their price target on shares of TG Therapeutics from $49.00 to $46.00 and set an “overweight” rating for the company in a report on Monday, February 2nd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TG Therapeutics in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $50.00.

TG Therapeutics Price Performance

NASDAQ:TGTX opened at $28.50 on Friday. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 10.25 and a beta of 1.85. TG Therapeutics has a one year low of $25.28 and a one year high of $46.48. The firm’s fifty day moving average is $30.09 and its two-hundred day moving average is $31.49. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.89 and a current ratio of 3.82.

Insider Buying and Selling at TG Therapeutics

In other news, Director Yann Echelard sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $32.57, for a total value of $162,850.00. Following the transaction, the director directly owned 223,816 shares of the company’s stock, valued at approximately $7,289,687.12. This trade represents a 2.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 10.64% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Johnson Financial Group Inc. purchased a new position in 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 3rd quarter worth $25,000. Optiver Holding B.V. increased its position in shares of TG Therapeutics by 3,485.7% during the 3rd quarter. Optiver Holding B.V. now owns 753 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 732 shares during the last quarter. Bessemer Group Inc. increased its position in shares of TG Therapeutics by 117.1% during the 3rd quarter. Bessemer Group Inc. now owns 901 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 486 shares during the last quarter. Finally, Salomon & Ludwin LLC acquired a new stake in shares of TG Therapeutics during the third quarter valued at about $34,000. Institutional investors and hedge funds 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.