TG Therapeutics, Inc. (NASDAQ:TGTX) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• TG Therapeutics now has a consensus analyst rating of “Moderate Buy” from nine brokerages, with an average 12-month price target of $53.33. Views are mixed, ranging from one sell rating to one strong buy.
• The stock was trading down 3.7% and opened at $55.01, near its 52-week high of $59.30. It has a market cap of $8.42 billion and strong liquidity metrics, including a quick ratio of 5.12.
• In its latest earnings report, TG Therapeutics beat revenue expectations with $204.92 million in quarterly sales, but missed EPS estimates at $0.12 versus the expected $0.23. Revenue still rose 69.5% year over year, and analysts expect $1.51 EPS for the full year.

Shares of TG Therapeutics, Inc. (NASDAQ:TGTX - Get Free Report) have been given a consensus rating of "Moderate Buy" by the nine ratings firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $53.3333.

A number of brokerages have recently commented on TGTX. Zacks Research raised shares of TG Therapeutics from a "strong sell" rating to a "hold" rating in a report on Monday, June 1st. Jefferies Financial Group reiterated a "buy" rating and set a $83.00 price target on shares of TG Therapeutics in a research note on Monday, June 22nd. HC Wainwright raised their price objective on shares of TG Therapeutics from $70.00 to $77.00 and gave the stock a "buy" rating in a research report on Monday. Bank of America lifted their price objective on shares of TG Therapeutics from $17.00 to $20.00 and gave the company an "underperform" rating in a research note on Tuesday, July 7th. Finally, Weiss Ratings raised shares of TG Therapeutics from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, May 1st.

TG Therapeutics Trading Down 3.7%

NASDAQ:TGTX opened at $55.01 on Tuesday. The company has a market capitalization of $8.42 billion, a PE ratio of 19.23, a P/E/G ratio of 1.38 and a beta of 1.60. TG Therapeutics has a 52-week low of $25.28 and a 52-week high of $59.30. The stock's 50 day moving average price is $46.60 and its 200 day moving average price is $36.52. The company has a quick ratio of 5.12, a current ratio of 5.81 and a debt-to-equity ratio of 1.28.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates of $0.23 by ($0.11). The firm had revenue of $204.92 million during the quarter, compared to analysts' expectations of $200.33 million. TG Therapeutics had a net margin of 65.95% and a return on equity of 88.73%. TG Therapeutics's quarterly revenue was up 69.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.03 EPS. On average, research analysts anticipate that TG Therapeutics will post 1.51 EPS for the current year.

Hedge Funds Weigh In On TG Therapeutics

Several institutional investors have recently added to or reduced their stakes in the stock. Congress Asset Management Co. acquired a new position in shares of TG Therapeutics in the fourth quarter valued at approximately $57,307,000. Nordea Investment Management AB purchased a new stake in shares of TG Therapeutics during the fourth quarter worth approximately $2,356,000. Penn Capital Management Company LLC lifted its holdings in shares of TG Therapeutics by 17.6% during the third quarter. Penn Capital Management Company LLC now owns 521,260 shares of the biopharmaceutical company's stock worth $18,877,000 after purchasing an additional 77,895 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of TG Therapeutics by 56.1% during the third quarter. JPMorgan Chase & Co. now owns 227,934 shares of the biopharmaceutical company's stock worth $8,234,000 after purchasing an additional 81,907 shares during the period. Finally, M&T Bank Corp purchased a new position in TG Therapeutics in the 4th quarter valued at $3,750,000. Institutional investors and hedge funds 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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