TG Therapeutics, Inc. (NASDAQ:TGTX) Stock Has Average Target Price of $63.00 According to Brokerages

Key Points

• Analysts maintain a Moderate Buy consensus on TG Therapeutics, with six buys, two holds and one sell among nine analysts. The average 12-month price target is $63.00, while recent targets range from $72 to $86.
• TG Therapeutics reported strong revenue growth but missed on earnings: quarterly revenue rose 70.2% year over year to $240.34 million, while EPS of $0.05 fell short of the $0.31 consensus estimate.
• The stock opened at $53.20, down 2.4%, but remains well above its 12-month low of $26.76. Institutional investors own 58.58% of shares, while insiders own 8.87%; a company director recently sold 5,000 shares.

TG Therapeutics, Inc. (NASDAQ:TGTX - Get Free Report) has received a consensus rating of "Moderate Buy" from the nine analysts that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $63.00.

Several research firms recently weighed in on TGTX. JPMorgan Chase & Co. boosted their price target on shares of TG Therapeutics from $65.00 to $72.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. HC Wainwright reiterated a "buy" rating and issued a $78.00 price objective on shares of TG Therapeutics in a research note on Tuesday, September 1st. B. Riley Financial lifted 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. Zacks Research upgraded TG Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Tuesday, October 6th. Finally, Weiss Ratings raised TG Therapeutics from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, October 8th.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC grew its holdings in TG Therapeutics by 45.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 993 shares of the biopharmaceutical company's stock valued at $55,000 after buying an additional 312 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of TG Therapeutics by 51.9% during 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 during the period. Harbor Investment Advisory LLC bought a new stake in shares of TG Therapeutics during the second quarter valued at about $96,000. Pingora Partners LLC purchased a new stake in shares of TG Therapeutics in the second quarter worth about $121,000. Finally, Allworth Financial LP purchased a new stake in shares of TG Therapeutics in the second quarter worth about $128,000. 58.58% of the stock is owned by institutional investors.

TG Therapeutics Stock Down 2.4%

Shares of NASDAQ TGTX opened at $53.20 on Thursday. The firm has a market cap of $8.14 billion, a PE ratio of 19.42, a P/E/G ratio of 2.30 and a beta of 1.80. TG Therapeutics has a 12-month low of $26.76 and a 12-month high of $59.30. The company's fifty day simple moving average is $54.52 and its 200 day simple moving average is $48.66. The company has a quick ratio of 3.72, a current ratio of 4.27 and a debt-to-equity ratio of 1.23.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last announced 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). The firm 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 firm's revenue was up 70.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.17 EPS. As a group, sell-side analysts forecast that TG Therapeutics will post 0.92 earnings per share for the current fiscal year.

TG Therapeutics Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.