Wall Street Zen Downgrades TG Therapeutics (NASDAQ:TGTX) to Hold

by · The Markets Daily

TG Therapeutics (NASDAQ:TGTX – Get Free Report) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Other equities analysts also recently issued research reports about the company. HC Wainwright began coverage on TG Therapeutics in a research report on Monday, October 6th. They set a “buy” rating and a $60.00 price target for the company. JPMorgan Chase & Co. increased their target price on shares of TG Therapeutics from $46.00 to $49.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TG Therapeutics in a research report on Monday, December 1st. Finally, B. Riley upgraded shares of TG Therapeutics to a “strong-buy” rating in a research note on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $50.25.

Check Out Our Latest Research Report on TGTX

TG Therapeutics Price Performance

TGTX stock opened at $30.76 on Friday. The stock has a 50-day moving average price of $33.47 and a two-hundred day moving average price of $33.79. TG Therapeutics has a 1 year low of $25.28 and a 1 year high of $46.48. The stock has a market cap of $4.88 billion, a PE ratio of 11.06 and a beta of 2.01. The company has a current ratio of 3.82, a quick ratio of 2.89 and a debt-to-equity ratio of 0.40.

TG Therapeutics (NASDAQ:TGTX – Get Free Report) last issued its quarterly earnings results on Monday, November 3rd. The biopharmaceutical company reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $2.19. The company had revenue of $161.71 million for the quarter, compared to analyst estimates of $152.12 million. TG Therapeutics had a return on equity of 133.24% and a net margin of 84.13%.The company’s quarterly revenue was up 92.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.02 earnings per share. Equities analysts forecast that TG Therapeutics will post 0.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Yann Echelard sold 5,000 shares of the company’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $32.57, for a total value of $162,850.00. Following the sale, the director directly owned 223,816 shares of the company’s stock, valued at approximately $7,289,687.12. This represents a 2.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sagar Lonial sold 20,852 shares of the firm’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $32.24, for a total transaction of $672,268.48. Following the completion of the sale, the director owned 94,061 shares of the company’s stock, valued at $3,032,526.64. This trade represents a 18.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 10.64% of the company’s stock.

Institutional Trading of TG Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp boosted its stake in shares of TG Therapeutics by 2.5% during the 2nd quarter. State Street Corp now owns 7,618,238 shares of the biopharmaceutical company’s stock worth $274,180,000 after acquiring an additional 184,339 shares during the period. Geode Capital Management LLC lifted its holdings in TG Therapeutics by 6.3% during the 2nd quarter. Geode Capital Management LLC now owns 3,490,457 shares of the biopharmaceutical company’s stock valued at $126,033,000 after purchasing an additional 207,890 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in TG Therapeutics by 21.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,919,416 shares of the biopharmaceutical company’s stock worth $75,683,000 after purchasing an additional 345,059 shares during the period. Hood River Capital Management LLC increased its holdings in shares of TG Therapeutics by 0.7% in the second quarter. Hood River Capital Management LLC now owns 1,567,506 shares of the biopharmaceutical company’s stock valued at $56,415,000 after purchasing an additional 11,018 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of TG Therapeutics by 1,809.9% in the first 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 period. Institutional investors own 58.58% of the company’s stock.

About TG Therapeutics

(Get Free Report)

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.

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