Zacks Research Upgrades TG Therapeutics (NASDAQ:TGTX) to Strong-Buy

Key Points

• Zacks Research upgraded TG Therapeutics from “hold” to “strong-buy.” Analysts’ overall consensus remains “Moderate Buy,” with an average price target of $63.
• TG Therapeutics reported quarterly revenue of $240.34 million, up 70.2% year over year and above estimates, but earnings per share of $0.05 missed the $0.31 consensus forecast.
• The stock opened at $57.98 and has traded between $26.76 and $63.60 over the past 52 weeks.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a note issued to investors on Wednesday, Zacks reports.

A number of other analysts also recently weighed in on TGTX. HC Wainwright reiterated a "buy" rating and set a $78.00 target price on shares of TG Therapeutics in a research report on Tuesday, September 1st. B. Riley Financial raised 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. Weiss Ratings downgraded TG Therapeutics from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, October 23rd. JPMorgan Chase & Co. boosted their price target on TG Therapeutics from $65.00 to $72.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Finally, Bank of America upped their price objective on shares of TG Therapeutics from $17.00 to $20.00 and gave the stock an "underperform" rating in a research report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have given 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, TG Therapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $63.00.

TG Therapeutics Stock Performance

NASDAQ TGTX opened at $57.98 on Wednesday. The stock has a market cap of $8.87 billion, a PE ratio of 21.16, a P/E/G ratio of 2.60 and a beta of 1.89. The firm has a 50-day moving average of $55.72 and a 200-day moving average of $44.36. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.72 and a current ratio of 4.27. TG Therapeutics has a 52-week low of $26.76 and a 52-week high of $63.60.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last released its quarterly 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 the consensus estimate of $229.77 million. During the same quarter last year, the firm earned $0.17 earnings per share. The business's revenue for the quarter was up 70.2% compared to the same quarter last year. On average, sell-side analysts anticipate that TG Therapeutics will post 0.92 EPS for the current year.

Insider Transactions at TG Therapeutics

In other news, Director Laurence Charney sold 5,000 shares of the firm's stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $54.96, for a total transaction of $274,800.00. Following the completion of the transaction, the director directly owned 168,640 shares in the company, valued at $9,268,454.40. This trade represents a 2.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 8.87% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TG Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Stronghold Wealth Management L.L.C. increased its holdings in shares of TG Therapeutics by 6.3% during the third quarter. Stronghold Wealth Management L.L.C. now owns 3,922 shares of the biopharmaceutical company's stock valued at $219,000 after acquiring an additional 231 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of TG Therapeutics by 45.8% during the third quarter. Farther Finance Advisors LLC now owns 993 shares of the biopharmaceutical company's stock worth $55,000 after purchasing an additional 312 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of TG Therapeutics by 51.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the biopharmaceutical company's stock worth $35,000 after purchasing an additional 365 shares in the last quarter. Choreo LLC lifted its holdings in shares of TG Therapeutics by 3.7% in the 3rd quarter. Choreo LLC now owns 10,811 shares of the biopharmaceutical company's stock worth $603,000 after purchasing an additional 384 shares in the last quarter. Finally, Chiron Capital Management LLC lifted its holdings in shares of TG Therapeutics by 10.5% in the 3rd quarter. Chiron Capital Management LLC now owns 4,200 shares of the biopharmaceutical company's stock worth $234,000 after purchasing an additional 400 shares in the last quarter. Institutional investors and hedge funds own 58.58% of the company's stock.

About TG Therapeutics

TG Therapeutics, Inc is a commercial-stage biopharmaceutical company focused on developing and delivering medicines for B-cell diseases, including multiple sclerosis and certain blood cancers. The company's research and development programs are centered on therapies that target B cells and the immune system.

TG Therapeutics' primary marketed product is BRIUMVI (ublituximab-xiiy), an anti-CD20 monoclonal antibody approved in the United States for the treatment of relapsing forms of multiple sclerosis in adults.

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