TG Therapeutics (NASDAQ:TGTX) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded TG Therapeutics from “hold” to “buy.” Analyst sentiment is broadly positive, with a MarketBeat consensus rating of “Moderate Buy” and an average price target of $63.
• Quarterly revenue rose 60.8% year over year to $259.94 million, exceeding analyst expectations of $245.47 million; earnings per share of $0.35 narrowly missed the $0.36 consensus estimate.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday, Wall Street Zen reports.

Several other analysts have also recently commented on TGTX. Zacks Research upgraded shares of TG Therapeutics from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, November 4th. B. Riley Financial upped their target price 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. HC Wainwright restated a "buy" rating and set a $78.00 target price on shares of TG Therapeutics in a research report on Tuesday, September 1st. Weiss Ratings raised shares of TG Therapeutics from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, November 4th. Finally, JPMorgan Chase & Co. lifted their price target on shares of TG Therapeutics from $65.00 to $72.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $63.00.

TG Therapeutics Trading Down 0.1%

NASDAQ:TGTX opened at $64.51 on Friday. The stock has a fifty day moving average price of $56.69 and a two-hundred day moving average price of $45.33. The stock has a market capitalization of $9.75 billion, a price-to-earnings ratio of 97.74, a PEG ratio of 5.08 and a beta of 1.89. The company has a debt-to-equity ratio of 1.30, a quick ratio of 3.72 and a current ratio of 4.50. TG Therapeutics has a 1 year low of $26.76 and a 1 year high of $68.03.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last issued its earnings results on Monday, November 9th. The biopharmaceutical company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). TG Therapeutics had a return on equity of 18.82% and a net margin of 11.81%. The company had revenue of $259.94 million for the quarter, compared to analysts' expectations of $245.47 million. During the same quarter in the previous year, the firm posted $2.43 earnings per share. TG Therapeutics's revenue for the quarter was up 60.8% on a year-over-year basis. As a group, sell-side analysts anticipate that TG Therapeutics will post 1.10 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Laurence Charney sold 5,000 shares of the business's stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $54.96, for a total value of $274,800.00. Following the sale, the director directly owned 168,640 shares in the company, valued at $9,268,454.40. The trade was a 2.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.87% of the stock is owned by company insiders.

Hedge Funds Weigh In On TG Therapeutics

Several hedge funds have recently added to or reduced their stakes in TGTX. Morse Asset Management Inc acquired a new position in TG Therapeutics during the third quarter worth about $29,000. EverSource Wealth Advisors LLC grew its position 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 valued at $35,000 after purchasing an additional 365 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of TG Therapeutics by 45.8% in the third quarter. Farther Finance Advisors LLC now owns 993 shares of the biopharmaceutical company's stock valued at $55,000 after purchasing an additional 312 shares during the last quarter. Bogart Wealth LLC purchased a new position in shares of TG Therapeutics during the 3rd quarter worth approximately $56,000. Finally, Jacobi Capital Management LLC purchased a new position in shares of TG Therapeutics during the 3rd quarter worth approximately $57,000. 58.58% of the stock is currently owned by hedge funds and other institutional investors.

TG Therapeutics Company Profile

TG Therapeutics is a biopharmaceutical company focused on developing and commercializing treatments for B-cell diseases, including autoimmune disorders and blood cancers. Its research has centered on therapies that target B cells, a type of immune cell involved in these conditions. The company's marketed product, BRIUMVI (ublituximab-xiiy), is an anti-CD20 monoclonal antibody approved in the United States to treat adults with relapsing forms of multiple sclerosis. TG Therapeutics also has investigated other drug candidates and combinations for immune-related and hematologic diseases.

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