TG Therapeutics, Inc. (NASDAQ:TGTX) Receives $37.67 Consensus Target Price from Analysts

Shares of TG Therapeutics, Inc. (NASDAQ:TGTX) have received a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $40.67.

A number of analysts have recently commented on the company. B. Riley upped their price objective on TG Therapeutics from $29.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. HC Wainwright upped their price target on TG Therapeutics from $49.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. TD Cowen started coverage on TG Therapeutics in a research note on Tuesday, October 29th. They issued a “buy” rating and a $50.00 price objective on the stock. JPMorgan Chase & Co. increased their target price on shares of TG Therapeutics from $30.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, The Goldman Sachs Group lifted their price target on shares of TG Therapeutics from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th.

TG Therapeutics Trading Up 2.2 %

Shares of TGTX opened at $35.00 on Monday. TG Therapeutics has a fifty-two week low of $12.32 and a fifty-two week high of $36.84. The stock has a fifty day moving average of $26.00 and a two-hundred day moving average of $21.95. The company has a debt-to-equity ratio of 1.27, a quick ratio of 3.91 and a current ratio of 4.59. The company has a market capitalization of $5.45 billion, a PE ratio of -342.57 and a beta of 2.19.

TG Therapeutics (NASDAQ:TGTX) last released its earnings results on Monday, November 4th. The biopharmaceutical company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). TG Therapeutics had a negative net margin of 5.42% and a negative return on equity of 8.32%. The business had revenue of $83.90 million during the quarter, compared to analyst estimates of $81.68 million. During the same quarter in the previous year, the company posted $0.73 earnings per share. The business’s revenue for the quarter was down 49.4% compared to the same quarter last year. As a group, analysts forecast that TG Therapeutics will post 0.17 EPS for the current year.

Insider Buying and Selling

In related news, Director Sagar Lonial sold 5,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $30.44, for a total transaction of $152,200.00. Following the completion of the sale, the director now directly owns 100,195 shares of the company’s stock, valued at approximately $3,049,935.80. This represents a 4.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 10.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TG Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TGTX. State Street Corp boosted its position in TG Therapeutics by 35.8% in the 3rd quarter. State Street Corp now owns 9,094,158 shares of the biopharmaceutical company’s stock valued at $212,712,000 after buying an additional 2,398,015 shares during the last quarter. Marshall Wace LLP purchased a new position in TG Therapeutics in the 2nd quarter valued at about $36,501,000. Principal Financial Group Inc. boosted its position in TG Therapeutics by 1,549.4% in the 3rd quarter. Principal Financial Group Inc. now owns 772,188 shares of the biopharmaceutical company’s stock valued at $18,061,000 after buying an additional 725,371 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in TG Therapeutics in the 2nd quarter valued at about $10,423,000. Finally, Assenagon Asset Management S.A. purchased a new position in TG Therapeutics in the 2nd quarter valued at about $8,698,000. 58.58% of the stock is 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.