TG Therapeutics, Inc. (NASDAQ:TGTX) Receives $37.67 Consensus Price Target from Analysts

TG Therapeutics, Inc. (NASDAQ:TGTX) has been given an average recommendation of “Moderate Buy” by the six ratings firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $40.67.

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of TG Therapeutics from $30.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. TD Cowen initiated coverage on TG Therapeutics in a research note on Tuesday, October 29th. They issued a “buy” rating and a $50.00 target price for the company. The Goldman Sachs Group upped their price target on TG Therapeutics from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. B. Riley increased their price target on TG Therapeutics from $29.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, HC Wainwright boosted their price objective on TG Therapeutics from $49.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, November 5th.

TG Therapeutics Stock Performance

TGTX stock opened at $34.80 on Monday. The firm has a market cap of $5.42 billion, a PE ratio of -349.97 and a beta of 2.19. The company has a current ratio of 4.59, a quick ratio of 3.91 and a debt-to-equity ratio of 1.27. The stock has a 50-day moving average price of $26.38 and a 200-day moving average price of $22.13. TG Therapeutics has a 1-year low of $12.37 and a 1-year high of $36.84.

TG Therapeutics (NASDAQ:TGTX) last issued its earnings results on Monday, November 4th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The business had revenue of $83.90 million during the quarter, compared to the consensus estimate of $81.68 million. TG Therapeutics had a negative return on equity of 8.32% and a negative net margin of 5.42%. The company’s revenue for the quarter was down 49.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.73 earnings per share. As a group, equities research analysts expect that TG Therapeutics will post 0.17 earnings per share for the current year.

Insider Transactions at TG Therapeutics

In other news, Director Sagar Lonial sold 5,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $30.44, for a total value of $152,200.00. Following the completion of the sale, the director now owns 100,195 shares in the company, valued at $3,049,935.80. This represents a 4.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 10.50% of the company’s stock.

Institutional Investors Weigh In On TG Therapeutics

A number of institutional investors have recently added to or reduced their stakes in TGTX. State Street Corp boosted its stake in shares of TG Therapeutics by 35.8% in the 3rd quarter. State Street Corp now owns 9,094,158 shares of the biopharmaceutical company’s stock worth $212,712,000 after buying an additional 2,398,015 shares during the last quarter. Marshall Wace LLP bought a new stake in TG Therapeutics during the second quarter worth $36,501,000. Principal Financial Group Inc. boosted its position in TG Therapeutics by 1,549.4% in the third quarter. Principal Financial Group Inc. now owns 772,188 shares of the biopharmaceutical company’s stock worth $18,061,000 after purchasing an additional 725,371 shares during the last quarter. Point72 Asset Management L.P. bought a new position in TG Therapeutics in the 2nd quarter valued at $10,423,000. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of TG Therapeutics during the 2nd quarter valued at $8,698,000. 58.58% of the stock is owned by institutional investors.

About TG Therapeutics

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