TG Therapeutics, Inc. (NASDAQ:TGTX) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• TG Therapeutics has a consensus “Hold” rating from nine brokerages: five buys, three holds and one sell. The average 12-month price target is $63, with recent targets ranging from $20 at Bank of America to $86 at B. Riley.
• The stock opened at $49.76 and remains near its 52-week high of $59.30. In its latest quarter, revenue rose 70.2% year over year to $240.34 million, beating estimates, while adjusted EPS of $0.05 fell short of the $0.31 consensus.
• Institutional investors own 58.58% of the company, with major firms including BlackRock, Vanguard and State Street increasing or initiating positions in TG Therapeutics.

Shares of TG Therapeutics, Inc. (NASDAQ:TGTX - Get Free Report) have earned an average rating of "Hold" from the nine brokerages that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $63.00.

Several brokerages recently issued reports on TGTX. Bank of America lifted their target price on TG Therapeutics from $17.00 to $20.00 and gave the company an "underperform" rating in a research note on Tuesday, July 7th. Weiss Ratings restated a "hold (c+)" rating on shares of TG Therapeutics in a research note on Wednesday, July 29th. B. Riley Financial increased their price objective on shares of TG Therapeutics from $55.00 to $86.00 and gave the company a "buy" rating in a report on Monday, July 27th. Jefferies Financial Group reissued a "buy" rating and issued a $83.00 target price on shares of TG Therapeutics in a report on Monday, June 22nd. Finally, Zacks Research upgraded shares of TG Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Monday, June 1st.

TG Therapeutics Trading Up 0.4%

Shares of TGTX stock opened at $49.76 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 5.12 and a current ratio of 4.27. The stock has a fifty day simple moving average of $51.47 and a two-hundred day simple moving average of $39.55. The firm has a market capitalization of $7.62 billion, a PE ratio of 18.16, a PEG ratio of 1.64 and a beta of 1.62. TG Therapeutics has a 52-week low of $25.28 and a 52-week high of $59.30.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last announced its quarterly earnings data 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 analysts' expectations of $229.77 million. TG Therapeutics had a net margin of 55.22% and a return on equity of 73.49%. TG Therapeutics's revenue was up 70.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.17 earnings per share. On average, analysts predict that TG Therapeutics will post 1.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of TG Therapeutics in the second quarter worth about $1,211,429,000. Vanguard Group Inc. boosted its stake in TG Therapeutics by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 15,841,002 shares of the biopharmaceutical company's stock valued at $472,220,000 after buying an additional 319,703 shares during the last quarter. State Street Corp boosted its stake in TG Therapeutics by 4.7% during the fourth quarter. State Street Corp now owns 8,479,999 shares of the biopharmaceutical company's stock valued at $252,789,000 after buying an additional 379,380 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in TG Therapeutics by 35.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,051,132 shares of the biopharmaceutical company's stock valued at $61,144,000 after buying an additional 531,759 shares in the last quarter. Finally, Pictet Asset Management Holding SA increased its stake in TG Therapeutics by 19.6% in the 1st quarter. Pictet Asset Management Holding SA now owns 1,747,373 shares of the biopharmaceutical company's stock worth $58,048,000 after acquiring an additional 286,325 shares during the last quarter. Institutional investors own 58.58% of the company's stock.

TG Therapeutics Company Profile

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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