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

TG Therapeutics, Inc. (NASDAQ:TGTX) has received a consensus rating of “Moderate Buy” from the six ratings firms that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $50.00.

Several research firms have issued reports on TGTX. The Goldman Sachs Group upped their price objective on shares of TG Therapeutics from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, January 15th. Cantor Fitzgerald reiterated an “overweight” rating on shares of TG Therapeutics in a research report on Wednesday, January 14th. JPMorgan Chase & Co. decreased their target price on TG Therapeutics from $49.00 to $46.00 and set an “overweight” rating for the company in a research report on Monday, February 2nd. Wall Street Zen downgraded TG Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TG Therapeutics in a research report on Monday, December 29th.

Hedge Funds Weigh In On TG Therapeutics

A number of hedge funds have recently modified their holdings of the business. Congress Asset Management Co. purchased a new stake in TG Therapeutics in the 4th quarter valued at $57,307,000. Man Group plc increased its stake in TG Therapeutics by 621.5% in the third quarter. Man Group plc now owns 1,008,462 shares of the biopharmaceutical company’s stock valued at $36,431,000 after purchasing an additional 868,697 shares during the period. BNP Paribas Financial Markets increased its stake in TG Therapeutics by 856.6% in the fourth quarter. BNP Paribas Financial Markets now owns 683,653 shares of the biopharmaceutical company’s stock valued at $20,380,000 after purchasing an additional 612,189 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of TG Therapeutics by 35.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,051,132 shares of the biopharmaceutical company’s stock valued at $61,144,000 after buying an additional 531,759 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of TG Therapeutics by 47.1% in the fourth quarter. Invesco Ltd. now owns 1,609,815 shares of the biopharmaceutical company’s stock valued at $47,989,000 after buying an additional 515,481 shares during the last quarter. 58.58% of the stock is currently owned by hedge funds and other institutional investors.

TG Therapeutics Stock Up 0.3%

Shares of NASDAQ:TGTX opened at $29.27 on Wednesday. The firm has a 50 day simple moving average of $29.64 and a 200-day simple moving average of $31.52. TG Therapeutics has a twelve month low of $25.28 and a twelve month high of $46.48. The company has a current ratio of 4.10, a quick ratio of 3.29 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $4.67 billion, a PE ratio of 10.57 and a beta of 1.87.

TG Therapeutics (NASDAQ:TGTX) last posted its earnings results on Thursday, February 26th. The biopharmaceutical company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.21). TG Therapeutics had a net margin of 72.56% and a return on equity of 101.12%. The company had revenue of $192.57 million during the quarter, compared to analysts’ expectations of $192.15 million. During the same period last year, the business earned $0.15 earnings per share. The company’s quarterly revenue was up 78.0% on a year-over-year basis. On average, equities 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.