TG Therapeutics (NASDAQ:TGTX) Raised to Hold at Zacks Research

Key Points

• Zacks Research upgraded TG Therapeutics from “strong sell” to “hold.” Despite the upgrade, broader analyst sentiment remains “Moderate Buy,” with six buy ratings, two holds and one sell rating, and an average price target of $63.
• TG Therapeutics shares opened at $52.95, near their 52-week high of $59.30, while the company’s latest revenue rose 70.2% year over year to $240.34 million. However, quarterly EPS of $0.05 missed analysts’ $0.31 estimate.
• Institutional investors and hedge funds own 58.58% of the stock, while an insider recently sold 5,000 shares at an average price of $54.96. TG Therapeutics markets BRIUMVI, an approved treatment for relapsing forms of multiple sclerosis.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) was upgraded by Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued on Tuesday, Zacks reports.

A number of other brokerages have also weighed in on TGTX. Jefferies Financial Group reissued a "buy" rating and issued a $83.00 price objective on shares of TG Therapeutics in a report on Monday, June 22nd. Weiss Ratings raised TG Therapeutics from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, September 21st. JPMorgan Chase & Co. upped 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, August 7th. HC Wainwright reiterated a "buy" rating and issued a $78.00 price target on shares of TG Therapeutics in a report on Tuesday, September 1st. Finally, B. Riley Financial raised their price target on shares of TG Therapeutics from $55.00 to $86.00 and gave the stock a "buy" rating in a research report on Monday, July 27th. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $63.00.

TG Therapeutics Price Performance

Shares of TGTX opened at $52.95 on Tuesday. The firm has a market capitalization of $8.11 billion, a PE ratio of 19.32, a price-to-earnings-growth ratio of 2.24 and a beta of 1.80. The company has a debt-to-equity ratio of 1.23, a current ratio of 4.27 and a quick ratio of 3.72. TG Therapeutics has a 1-year low of $26.76 and a 1-year high of $59.30. The company's fifty day moving average price is $53.61 and its 200-day moving average price is $47.07.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last released its earnings results on Monday, August 3rd. The biopharmaceutical company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.26). TG Therapeutics had a net margin of 55.22% and a return on equity of 73.49%. The firm had revenue of $240.34 million during the quarter, compared to analyst estimates of $229.77 million. During the same period in the previous year, the company earned $0.17 earnings per share. TG Therapeutics's revenue was up 70.2% on a year-over-year basis. On average, equities research analysts predict that TG Therapeutics will post 0.92 EPS for the current year.

Insider Buying and Selling

In other news, Director Laurence Charney sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $54.96, for a total transaction of $274,800.00. Following the sale, the director owned 168,640 shares of the company's stock, valued at $9,268,454.40. This trade represents a 2.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 8.87% of the company's stock.

Hedge Funds Weigh In On TG Therapeutics

Several large investors have recently made changes to their positions in TGTX. EverSource Wealth Advisors LLC increased its holdings in TG Therapeutics by 51.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the biopharmaceutical company's stock valued at $35,000 after buying an additional 365 shares in the last quarter. Pingora Partners LLC boosted its stake in shares of TG Therapeutics by 31.2% during the 4th quarter. Pingora Partners LLC now owns 2,100 shares of the biopharmaceutical company's stock worth $63,000 after acquiring an additional 500 shares in the last quarter. Harbor Investment Advisory LLC purchased a new position in shares of TG Therapeutics in the 2nd quarter valued at about $96,000. Allworth Financial LP acquired a new position in TG Therapeutics in the 2nd quarter worth about $128,000. Finally, KBC Group NV boosted its position in TG Therapeutics by 28.9% during the first quarter. KBC Group NV now owns 5,335 shares of the biopharmaceutical company's stock worth $177,000 after purchasing an additional 1,195 shares in the last quarter. 58.58% of the stock is currently owned by institutional investors and hedge funds.

About TG Therapeutics

TG Therapeutics, Inc is a commercial-stage biopharmaceutical company focused on developing and delivering treatments for B-cell-mediated diseases, including multiple sclerosis and B-cell malignancies. The company's research and development activities center on antibody-based therapies designed to target B cells and related immune pathways.

TG Therapeutics' principal marketed product is BRIUMVI (ublituximab-xiiy), an anti-CD20 monoclonal antibody approved in the United States for the treatment of adults with relapsing forms of multiple sclerosis, including clinically isolated syndrome, relapsing-remitting disease and active secondary progressive disease.

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