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

by · The Markets Daily

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

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

Check Out Our Latest Stock Report on TGTX

TG Therapeutics Stock Performance

Shares of TGTX stock opened at $32.16 on Friday. 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 stock has a market capitalization of $5.01 billion, a price-to-earnings ratio of -321.57 and a beta of 2.25. TG Therapeutics has a one year low of $12.84 and a one year high of $36.84. The company’s 50-day simple moving average is $29.96 and its 200-day simple moving average is $24.24.

TG Therapeutics (NASDAQ:TGTX – Get Free Report) last released its earnings results on Monday, November 4th. The biopharmaceutical company reported $0.02 EPS 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 firm had revenue of $83.90 million for the quarter, compared to the consensus estimate of $81.68 million. During the same period in the prior year, the business earned $0.73 EPS. The company’s quarterly revenue was down 49.4% on a year-over-year basis. Equities analysts anticipate that TG Therapeutics will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Sagar Lonial sold 5,000 shares of the business’s 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 in the company, valued at approximately $3,049,935.80. The trade was a 4.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 10.50% of the company’s stock.

Institutional Trading of TG Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its stake in TG Therapeutics by 13.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 503,645 shares of the biopharmaceutical company’s stock valued at $8,960,000 after buying an additional 59,523 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in TG Therapeutics by 1,080.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 18,313 shares of the biopharmaceutical company’s stock worth $326,000 after purchasing an additional 16,761 shares in the last quarter. Iridian Asset Management LLC CT bought a new stake in TG Therapeutics during the second quarter worth approximately $700,000. Burney Co. acquired a new stake in TG Therapeutics in the second quarter worth approximately $801,000. Finally, Principal Financial Group Inc. boosted its stake in TG Therapeutics by 32.3% during the 2nd quarter. Principal Financial Group Inc. now owns 46,817 shares of the biopharmaceutical company’s stock valued at $833,000 after purchasing an additional 11,443 shares in the last quarter. Institutional investors own 58.58% of the company’s stock.

TG Therapeutics Company Profile

(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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