TG Therapeutics' (TGTX) Buy Rating Reaffirmed at HC Wainwright

Key Points

• HC Wainwright reaffirmed its Buy rating on TG Therapeutics and maintained a $78 price target, implying approximately 42.8% upside from the stock’s $54.62 price.
• Analyst sentiment is mixed overall: five analysts rate the stock Buy, three Hold, and one Sell, resulting in a consensus Hold rating and an average target price of $63.
• TG Therapeutics reported quarterly revenue of $240.34 million, exceeding estimates and rising 70.2% year over year, but earnings of $0.05 per share missed the $0.31 consensus estimate.

TG Therapeutics (NASDAQ:TGTX - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at HC Wainwright in a note issued to investors on Tuesday, Benzinga reports. They currently have a $78.00 target price on the biopharmaceutical company's stock. HC Wainwright's target price indicates a potential upside of 42.80% from the stock's current price.

TGTX has been the topic of several other reports. Zacks Research raised shares of TG Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Monday, June 1st. B. Riley Financial boosted their price target on TG Therapeutics from $55.00 to $86.00 and gave the stock a "buy" rating in a research report on Monday, July 27th. JPMorgan Chase & Co. upped their price target on TG Therapeutics from $65.00 to $72.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Weiss Ratings reissued a "hold (c+)" rating on shares of TG Therapeutics in a report on Wednesday, July 29th. Finally, Bank of America raised their price objective on TG Therapeutics from $17.00 to $20.00 and gave the company an "underperform" rating in a research note on Tuesday, July 7th. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $63.00.

TG Therapeutics Stock Up 0.6%

NASDAQ:TGTX traded up $0.32 during mid-day trading on Tuesday, reaching $54.62. The stock had a trading volume of 1,571,721 shares, compared to its average volume of 2,202,929. The stock has a market cap of $8.36 billion, a P/E ratio of 19.95, a PEG ratio of 2.31 and a beta of 1.62. The business's 50 day moving average is $53.37 and its 200 day moving average is $42.09. 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 fifty-two week low of $26.76 and a fifty-two week high of $59.30.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last posted its earnings results on Monday, August 3rd. The biopharmaceutical company reported $0.05 EPS for the quarter, missing the consensus estimate 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 revenue was up 70.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.17 earnings per share. As a group, sell-side analysts predict that TG Therapeutics will post 0.92 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. 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. Maryland State Retirement & Pension System boosted its stake in TG Therapeutics by 2.0% during the 4th quarter. Maryland State Retirement & Pension System now owns 19,899 shares of the biopharmaceutical company's stock valued at $593,000 after purchasing an additional 393 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in TG Therapeutics by 1.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,406 shares of the biopharmaceutical company's stock valued at $1,135,000 after buying an additional 441 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in TG Therapeutics by 16.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,147 shares of the biopharmaceutical company's stock valued at $94,000 after buying an additional 454 shares during the last quarter. Finally, HB Wealth Management LLC increased its position in TG Therapeutics by 6.7% in the 1st quarter. HB Wealth Management LLC now owns 7,514 shares of the biopharmaceutical company's stock worth $250,000 after buying an additional 475 shares during the period. Institutional investors own 58.58% of the company's stock.

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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