TG Therapeutics (NASDAQ:TGTX) Rating Lowered to "Strong Sell" at Zacks Research

Key Points

• Zacks Research downgraded TG Therapeutics to “strong sell” from “hold,” contrasting with other analysts’ more optimistic views. The stock has five Buy, two Hold, and two Sell ratings, resulting in a consensus “Hold” rating and a $63 average price target.
• TG Therapeutics shares opened at $55.74, near their 52-week high of $59.30, with a market capitalization of approximately $8.53 billion. The company’s latest quarterly revenue rose 70.2% year over year to $240.34 million, but earnings per share of $0.05 missed estimates by $0.26.
• Institutional investors own approximately 58.58% of TG Therapeutics’ outstanding shares, with several firms recently increasing their positions or initiating new stakes.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) was downgraded by equities researchers at Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued to investors on Monday, Zacks reports.

TGTX has been the topic of a number of other research reports. HC Wainwright reissued a "buy" rating and issued a $78.00 target price on shares of TG Therapeutics in a research note on Tuesday, September 1st. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of TG Therapeutics in a research note on Wednesday, July 29th. Jefferies Financial Group reiterated a "buy" rating and set a $83.00 price objective on shares of TG Therapeutics in a research report on Monday, June 22nd. JPMorgan Chase & Co. raised their price objective on TG Therapeutics from $65.00 to $72.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Finally, B. Riley Financial boosted their target price on TG Therapeutics from $55.00 to $86.00 and gave the stock a "buy" rating in a research report on Monday, July 27th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, TG Therapeutics has a consensus rating of "Hold" and a consensus price target of $63.00.

TG Therapeutics Price Performance

TG Therapeutics stock opened at $55.74 on Monday. TG Therapeutics has a 52 week low of $26.76 and a 52 week high of $59.30. The company's 50 day moving average price is $53.56 and its two-hundred day moving average price is $43.25. The company has a quick ratio of 3.72, a current ratio of 4.27 and a debt-to-equity ratio of 1.23. The stock has a market cap of $8.53 billion, a P/E ratio of 20.34, a P/E/G ratio of 2.40 and a beta of 1.67.

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

Institutional Investors Weigh In On TG Therapeutics

Institutional investors have recently bought and sold shares of the stock. Danske Bank A S bought a new stake in TG Therapeutics in the third quarter valued at approximately $25,000. EverSource Wealth Advisors LLC increased its stake in shares of TG Therapeutics by 51.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the biopharmaceutical company's stock worth $35,000 after buying an additional 365 shares during the period. Hantz Financial Services Inc. increased its stake in shares of TG Therapeutics by 82.7% in the fourth quarter. Hantz Financial Services Inc. now owns 1,237 shares of the biopharmaceutical company's stock worth $37,000 after buying an additional 560 shares during the period. Truvestments Capital LLC raised its stake in shares of TG Therapeutics by 172.4% during the fourth quarter. Truvestments Capital LLC now owns 1,621 shares of the biopharmaceutical company's stock valued at $48,000 after acquiring an additional 1,026 shares during the last quarter. Finally, Kemnay Advisory Services Inc. purchased a new stake in shares of TG Therapeutics during the fourth quarter worth about $52,000. 58.58% of the stock is currently owned by hedge funds and other institutional investors.

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.

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