TG Therapeutics (NASDAQ:TGTX) Downgraded to Sell Rating by StockNews.com

StockNews.com lowered shares of TG Therapeutics (NASDAQ:TGTX) from a hold rating to a sell rating in a research report report published on Sunday.

A number of other research analysts have also recently commented on the stock. TD Cowen started coverage on shares of TG Therapeutics in a research note on Tuesday, October 29th. They set a “buy” rating and a $50.00 price target for the company. HC Wainwright boosted their price target on TG Therapeutics from $49.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. The Goldman Sachs Group increased their price objective on TG Therapeutics from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. upped their target price on shares of TG Therapeutics from $30.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, TG Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $40.67.

TG Therapeutics Price Performance

Shares of TGTX stock opened at $32.20 on Friday. The company has a market capitalization of $5.01 billion, a P/E ratio of -321.97 and a beta of 2.25. The company has a current ratio of 4.59, a quick ratio of 3.91 and a debt-to-equity ratio of 1.27. TG Therapeutics has a 12 month low of $12.84 and a 12 month high of $36.84. The stock has a 50 day moving average of $29.62 and a two-hundred day moving average of $23.96.

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

Insiders Place Their Bets

In related news, Director Sagar Lonial sold 5,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $30.44, for a total transaction of $152,200.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 10.50% of the company’s stock.

Institutional Investors Weigh In On TG Therapeutics

Large investors have recently made changes to their positions in the stock. State Street Corp raised its position in TG Therapeutics by 35.8% during the third quarter. State Street Corp now owns 9,094,158 shares of the biopharmaceutical company’s stock worth $212,712,000 after acquiring an additional 2,398,015 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of TG Therapeutics in the second quarter valued at about $36,501,000. Hood River Capital Management LLC increased its position in TG Therapeutics by 6.7% during the second quarter. Hood River Capital Management LLC now owns 1,572,929 shares of the biopharmaceutical company’s stock worth $27,982,000 after acquiring an additional 98,892 shares during the period. Charles Schwab Investment Management Inc. raised its stake in TG Therapeutics by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,184,609 shares of the biopharmaceutical company’s stock worth $27,708,000 after purchasing an additional 7,939 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings 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 purchasing an additional 725,371 shares during the period. Institutional investors and hedge funds own 58.58% of the company’s stock.

TG Therapeutics Company Profile

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.