HC Wainwright Begins Coverage on TG Therapeutics (NASDAQ:TGTX)

Key Points

• HC Wainwright upgraded TG Therapeutics to a "strong-buy" rating, projecting FY2029 earnings at $3.15 EPS.
• The company reported $0.17 earnings per share for the last quarter, missing analysts' expectations of $0.32, despite a 92.1% rise in quarterly revenue year-over-year.
• Institutional investors own 58.58% of TG Therapeutics, with several raising their stakes significantly during the first quarter.

HC Wainwright assumed coverage on shares of TG Therapeutics (NASDAQ:TGTX - Get Free Report) in a research note issued to investors on Monday, MarketBeat reports. The brokerage set a "buy" rating and a $60.00 price target on the biopharmaceutical company's stock. HC Wainwright's price target would indicate a potential upside of 63.22% from the company's current price. HC Wainwright also issued estimates for TG Therapeutics' FY2029 earnings at $3.15 EPS.

A number of other research firms also recently weighed in on TGTX. B. Riley lifted their price target on TG Therapeutics from $53.00 to $55.00 and gave the company a "buy" rating in a research note on Wednesday, September 17th. Weiss Ratings reissued a "hold (c-)" rating on shares of TG Therapeutics in a report on Saturday, September 27th. Finally, The Goldman Sachs Group raised shares of TG Therapeutics to a "hold" rating and set a $37.00 price target on the stock in a research note on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, TG Therapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $49.00.

TG Therapeutics Stock Up 0.1%

Shares of NASDAQ:TGTX opened at $36.76 on Monday. TG Therapeutics has a fifty-two week low of $21.16 and a fifty-two week high of $46.48. The company has a quick ratio of 2.96, a current ratio of 3.86 and a debt-to-equity ratio of 0.89. The firm's 50-day simple moving average is $31.54 and its 200-day simple moving average is $35.35. The company has a market cap of $5.83 billion, a price-to-earnings ratio of 99.35 and a beta of 1.97.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The biopharmaceutical company reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.15). TG Therapeutics had a net margin of 13.31% and a return on equity of 26.05%. The firm had revenue of $141.15 million during the quarter, compared to analyst estimates of $147.76 million. During the same quarter in the previous year, the business earned $0.04 EPS. TG Therapeutics's revenue for the quarter was up 92.1% on a year-over-year basis. TG Therapeutics has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that TG Therapeutics will post 0.08 earnings per share for the current year.

Insider Buying and Selling at TG Therapeutics

In other news, Director Sagar Lonial sold 20,852 shares of the firm's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $32.24, for a total value of $672,268.48. Following the completion of the transaction, the director owned 94,061 shares in the company, valued at $3,032,526.64. This trade represents a 18.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 10.64% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On TG Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its stake in TG Therapeutics by 1,809.9% in the 1st quarter. Wellington Management Group LLP now owns 1,213,039 shares of the biopharmaceutical company's stock valued at $47,830,000 after purchasing an additional 1,149,526 shares during the last quarter. Driehaus Capital Management LLC purchased a new position in TG Therapeutics during the first quarter worth about $30,545,000. Nuveen LLC acquired a new stake in TG Therapeutics in the 1st quarter worth about $29,442,000. Woodline Partners LP purchased a new stake in TG Therapeutics in the 1st quarter valued at about $21,021,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in TG Therapeutics by 1,221.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 422,078 shares of the biopharmaceutical company's stock valued at $15,191,000 after buying an additional 390,137 shares during the period. 58.58% of the stock is currently owned by hedge funds and other institutional investors.

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.