TG Therapeutics (NASDAQ:TGTX) Given New $49.00 Price Target at HC Wainwright

TG Therapeutics (NASDAQ:TGTX - Get Free Report) had its price target increased by analysts at HC Wainwright from $45.00 to $49.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a "buy" rating on the biopharmaceutical company's stock. HC Wainwright's price target indicates a potential upside of 198.42% from the company's current price.

A number of other brokerages have also recently issued reports on TGTX. JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $25.00 price objective on shares of TG Therapeutics in a report on Thursday, April 18th. B. Riley upped their price objective on shares of TG Therapeutics from $24.00 to $29.00 and gave the stock a "buy" rating in a report on Monday, February 5th. The Goldman Sachs Group upped their price objective on shares of TG Therapeutics from $12.00 to $13.00 and gave the stock a "neutral" rating in a report on Thursday, February 29th. StockNews.com cut shares of TG Therapeutics from a "buy" rating to a "hold" rating in a report on Saturday, February 24th. Finally, LADENBURG THALM/SH SH upped their price target on shares of TG Therapeutics from $39.00 to $40.00 and gave the company a "buy" rating in a report on Thursday. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $29.83.

TG Therapeutics Stock Up 3.4 %

Shares of NASDAQ TGTX traded up $0.54 during mid-day trading on Thursday, reaching $16.42. The company had a trading volume of 8,477,473 shares, compared to its average volume of 4,335,356. TG Therapeutics has a twelve month low of $6.46 and a twelve month high of $35.67. The company has a debt-to-equity ratio of 0.62, a quick ratio of 5.18 and a current ratio of 5.92. The stock has a market capitalization of $2.54 billion, a PE ratio of 828.91 and a beta of 2.33. The stock's 50 day moving average is $15.13 and its 200-day moving average is $14.33.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.02). TG Therapeutics had a return on equity of 12.89% and a net margin of 5.42%. The company had revenue of $63.47 million during the quarter, compared to analyst estimates of $54.60 million. During the same period last year, the company posted ($0.28) earnings per share. The company's revenue was up 713.5% compared to the same quarter last year. As a group, equities analysts anticipate that TG Therapeutics will post -0.11 earnings per share for the current fiscal year.

Insider Activity at TG Therapeutics

In related news, Director Laurence N. Charney sold 22,000 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $15.97, for a total value of $351,340.00. Following the completion of the sale, the director now owns 215,229 shares in the company, valued at $3,437,207.13. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 9.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. acquired a new position in TG Therapeutics in the third quarter worth about $1,219,000. Hussman Strategic Advisors Inc. acquired a new stake in shares of TG Therapeutics during the third quarter worth approximately $439,000. Rhenman & Partners Asset Management AB increased its holdings in shares of TG Therapeutics by 190.9% during the third quarter. Rhenman & Partners Asset Management AB now owns 160,000 shares of the biopharmaceutical company's stock worth $1,338,000 after buying an additional 105,000 shares in the last quarter. Rafferty Asset Management LLC increased its holdings in shares of TG Therapeutics by 183.2% during the third quarter. Rafferty Asset Management LLC now owns 856,837 shares of the biopharmaceutical company's stock worth $7,163,000 after buying an additional 554,309 shares in the last quarter. Finally, Blueshift Asset Management LLC acquired a new stake in shares of TG Therapeutics during the third quarter worth approximately $511,000. Institutional investors and hedge funds own 58.58% of the company's stock.

About TG Therapeutics

TG Therapeutics, Inc, a commercial stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel treatments for B-cell mediated diseases in the United States and internationally. It provides BRIUMVI, an anti-CD20 monoclonal antibody for the treatment of adult patients with relapsing forms of multiple sclerosis (RMS), including clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease in adults.