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

by · The Markets Daily

Wall Street Zen lowered shares of TG Therapeutics (NASDAQ:TGTX – Free Report) from a buy rating to a hold rating in a research note issued to investors on Saturday.

Several other analysts also recently weighed in on the stock. JPMorgan Chase & Co. lowered their price target on shares of TG Therapeutics from $49.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday, February 2nd. The Goldman Sachs Group boosted their target price on TG Therapeutics from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, January 15th. Cantor Fitzgerald restated an “overweight” rating on shares of TG Therapeutics in a research report on Wednesday, January 14th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TG Therapeutics in a research note on Monday, December 29th. Finally, B. Riley Financial raised TG Therapeutics to a “strong-buy” rating in a research note on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, TG Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $50.00.

Read Our Latest Analysis on TGTX

TG Therapeutics Trading Up 0.3%

TGTX stock opened at $28.50 on Friday. The company has a market capitalization of $4.52 billion, a PE ratio of 10.25 and a beta of 1.85. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.89 and a current ratio of 3.82. TG Therapeutics has a one year low of $25.28 and a one year high of $46.48. The company’s 50 day moving average price is $30.09 and its two-hundred day moving average price is $31.47.

Insider Buying and Selling

In other TG Therapeutics news, Director Yann Echelard sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $32.57, for a total transaction of $162,850.00. Following the completion of the transaction, the director owned 223,816 shares of the company’s stock, valued at $7,289,687.12. This represents a 2.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 10.64% of the stock is owned by insiders.

Hedge Funds Weigh In On TG Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Jump Financial LLC increased its position in TG Therapeutics by 551.8% during the 2nd quarter. Jump Financial LLC now owns 320,022 shares of the biopharmaceutical company’s stock valued at $11,518,000 after buying an additional 270,922 shares in the last quarter. Marex Group plc purchased a new stake in shares of TG Therapeutics in the second quarter worth $10,017,000. Public Sector Pension Investment Board increased its holdings in shares of TG Therapeutics by 14.5% during the third quarter. Public Sector Pension Investment Board now owns 529,271 shares of the biopharmaceutical company’s stock valued at $19,120,000 after acquiring an additional 66,911 shares in the last quarter. Yorktown Management & Research Co Inc purchased a new position in shares of TG Therapeutics in the 2nd quarter worth about $383,000. Finally, Prudential Financial Inc. boosted its stake in TG Therapeutics by 5.5% in the 2nd quarter. Prudential Financial Inc. now owns 189,315 shares of the biopharmaceutical company’s stock worth $6,813,000 after purchasing an additional 9,925 shares in the last quarter. Institutional investors own 58.58% of the company’s stock.

About TG Therapeutics

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TG Therapeutics, Inc is a clinical‐stage biopharmaceutical company headquartered in New York City that specializes in developing targeted therapies for hematological malignancies and autoimmune diseases. The company’s research strategy focuses on the modulation of B-cell biology through novel antibody and small‐molecule agents. Since its founding in 2003, TG Therapeutics has built a diversified portfolio aimed at addressing unmet medical needs in oncology and immunology.

In December 2022, TG Therapeutics achieved its first commercial milestone when ublituximab-xiiy (marketed as Briumvi® in collaboration with Biogen) received U.S.

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