TG Therapeutics (NASDAQ:TGTX) Upgraded at Zacks Research

TG Therapeutics (NASDAQ:TGTX) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Several other brokerages have also commented on TGTX. Weiss Ratings raised shares of TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. HC Wainwright reissued a “buy” rating and issued a $70.00 price target on shares of TG Therapeutics in a report on Wednesday, May 27th. Wall Street Zen lowered shares of TG Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $52.50.

TG Therapeutics Price Performance

NASDAQ:TGTX opened at $36.64 on Monday. The company has a debt-to-equity ratio of 1.28, a current ratio of 5.81 and a quick ratio of 5.12. The firm has a market cap of $5.61 billion, a price-to-earnings ratio of 12.81 and a beta of 1.68. The company has a 50 day moving average price of $36.35 and a 200-day moving average price of $32.37. TG Therapeutics has a 1-year low of $25.28 and a 1-year high of $44.65.

TG Therapeutics (NASDAQ:TGTX) last posted its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.11). The firm had revenue of $204.92 million for the quarter, compared to analysts’ expectations of $200.33 million. TG Therapeutics had a net margin of 65.95% and a return on equity of 88.73%. TG Therapeutics’s revenue for the quarter was up 69.5% compared to the same quarter last year. During the same period last year, the firm earned $0.03 earnings per share. Equities research analysts forecast that TG Therapeutics will post 1.31 EPS for the current year.

Institutional Investors Weigh In On TG Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Congress Asset Management Co. acquired a new stake in TG Therapeutics during the 4th quarter worth $57,307,000. Man Group plc boosted its stake in TG Therapeutics by 621.5% during the 3rd quarter. Man Group plc now owns 1,008,462 shares of the biopharmaceutical company’s stock worth $36,431,000 after purchasing an additional 868,697 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in TG Therapeutics by 856.6% during the 4th quarter. BNP Paribas Financial Markets now owns 683,653 shares of the biopharmaceutical company’s stock worth $20,380,000 after purchasing an additional 612,189 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in TG Therapeutics by 129.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,084,855 shares of the biopharmaceutical company’s stock worth $36,029,000 after purchasing an additional 612,068 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in TG Therapeutics by 71.7% during the 1st quarter. Bank of America Corp DE now owns 1,461,302 shares of the biopharmaceutical company’s stock worth $48,544,000 after purchasing an additional 610,195 shares during the last quarter. 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.