TG Therapeutics, Inc. (NASDAQ:TGTX) Receives $50.00 Consensus PT from Brokerages

TG Therapeutics, Inc. (NASDAQ:TGTX) has earned an average recommendation of “Moderate Buy” from the six research firms that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $50.00.

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

TG Therapeutics Stock Performance

TGTX stock opened at $35.71 on Thursday. The firm has a 50 day moving average of $32.11 and a two-hundred day moving average of $31.48. TG Therapeutics has a 12 month low of $25.28 and a 12 month high of $40.99. The company has a market capitalization of $5.70 billion, a price-to-earnings ratio of 12.89 and a beta of 1.68. The company has a quick ratio of 3.29, a current ratio of 4.10 and a debt-to-equity ratio of 0.38.

TG Therapeutics (NASDAQ:TGTX) last released its quarterly earnings results on Thursday, February 26th. The biopharmaceutical company reported $0.14 earnings per share 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 business had revenue of $192.57 million for the quarter, compared to the consensus estimate of $192.15 million. During the same quarter in the prior year, the business posted $0.15 EPS. The firm’s revenue for the quarter was up 78.0% compared to the same quarter last year. As a group, equities analysts anticipate that TG Therapeutics will post 1.32 EPS for the current fiscal year.

Institutional Trading of TG Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of TGTX. Vanguard Group Inc. grew its stake in TG Therapeutics by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 15,841,002 shares of the biopharmaceutical company’s stock valued at $472,220,000 after buying an additional 319,703 shares during the last quarter. State Street Corp raised its holdings in TG Therapeutics by 4.7% in the 4th quarter. State Street Corp now owns 8,479,999 shares of the biopharmaceutical company’s stock worth $252,789,000 after acquiring an additional 379,380 shares during the period. Goldman Sachs Group Inc. lifted its position in TG Therapeutics by 35.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,051,132 shares of the biopharmaceutical company’s stock worth $61,144,000 after acquiring an additional 531,759 shares during the last quarter. Congress Asset Management Co. acquired a new position in TG Therapeutics during the 4th quarter worth $57,307,000. Finally, Pictet Asset Management Holding SA boosted its holdings in TG Therapeutics by 19.6% during the first quarter. Pictet Asset Management Holding SA now owns 1,747,373 shares of the biopharmaceutical company’s stock valued at $58,048,000 after acquiring an additional 286,325 shares during the period. 58.58% of the stock is currently owned by institutional investors and hedge funds.

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.