TG Therapeutics, Inc. (NASDAQ:TGTX) Receives Average Rating of “Hold” from Brokerages

TG Therapeutics, Inc. (NASDAQ:TGTX) has been assigned a consensus recommendation of “Hold” from the nine ratings firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $63.00.

A number of research analysts recently commented on the stock. Jefferies Financial Group reiterated a “buy” rating and issued a $83.00 price target on shares of TG Therapeutics in a research report on Monday, June 22nd. Zacks Research upgraded TG Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. HC Wainwright reaffirmed a “buy” rating and issued a $78.00 price objective on shares of TG Therapeutics in a research note on Tuesday. B. Riley Financial lifted their target price on TG Therapeutics from $55.00 to $86.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Finally, JPMorgan Chase & Co. boosted their target price on TG Therapeutics from $65.00 to $72.00 and gave the company an “overweight” rating in a research report on Friday.

TG Therapeutics Price Performance

TGTX stock opened at $49.76 on Friday. TG Therapeutics has a 52 week low of $25.28 and a 52 week high of $59.30. The company has a quick ratio of 5.12, a current ratio of 4.27 and a debt-to-equity ratio of 1.23. The company has a fifty day simple moving average of $51.47 and a two-hundred day simple moving average of $39.55. The firm has a market capitalization of $7.62 billion, a P/E ratio of 18.16, a price-to-earnings-growth ratio of 1.64 and a beta of 1.62.

TG Therapeutics (NASDAQ:TGTX) last posted its earnings results on Monday, August 3rd. The biopharmaceutical company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.26). The business had revenue of $240.34 million during the quarter, compared to the consensus estimate of $229.77 million. TG Therapeutics had a return on equity of 73.49% and a net margin of 55.22%.The business’s quarterly revenue was up 70.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.17 earnings per share. Analysts anticipate that TG Therapeutics will post 1.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TG Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of TG Therapeutics in the second quarter valued at $1,211,429,000. Vanguard Group Inc. boosted its stake in shares of TG Therapeutics by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 15,841,002 shares of the biopharmaceutical company’s stock worth $472,220,000 after purchasing an additional 319,703 shares during the period. State Street Corp grew its holdings in TG Therapeutics by 4.7% during the 4th quarter. State Street Corp now owns 8,479,999 shares of the biopharmaceutical company’s stock valued at $252,789,000 after purchasing an additional 379,380 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings 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 valued at $61,144,000 after purchasing an additional 531,759 shares during the last quarter. Finally, Pictet Asset Management Holding SA raised its position in TG Therapeutics by 19.6% in the 1st quarter. Pictet Asset Management Holding SA now owns 1,747,373 shares of the biopharmaceutical company’s stock worth $58,048,000 after purchasing an additional 286,325 shares during the period. Hedge funds and other institutional investors own 58.58% of the company’s stock.

TG Therapeutics Company Profile

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.