TG Therapeutics, Inc. (NASDAQ:TGTX) Receives $50.75 Average PT from Analysts

Shares of TG Therapeutics, Inc. (NASDAQ:TGTX) have been assigned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $50.75.

A number of brokerages recently commented on TGTX. Wall Street Zen upgraded TG Therapeutics from a “hold” rating to a “buy” rating in a research note on Sunday, December 14th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of TG Therapeutics in a report on Wednesday, January 14th. The Goldman Sachs Group lifted their target price on shares of TG Therapeutics from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, January 15th. Weiss Ratings reissued a “hold (c+)” rating on shares of TG Therapeutics in a research report on Monday, December 29th. Finally, JPMorgan Chase & Co. raised their price target on shares of TG Therapeutics from $46.00 to $49.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd.

Insider Activity at TG Therapeutics

In related news, Director Yann Echelard sold 5,000 shares of the business’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $32.57, for a total value of $162,850.00. Following the sale, the director owned 223,816 shares of the company’s stock, valued at $7,289,687.12. The trade was a 2.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 10.64% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Jump Financial LLC lifted its holdings 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 purchasing an additional 270,922 shares during the last quarter. Marex Group plc acquired a new stake in shares of TG Therapeutics during the second quarter worth approximately $10,017,000. KLP Kapitalforvaltning AS raised its stake in shares of TG Therapeutics by 7.7% in the second quarter. KLP Kapitalforvaltning AS now owns 30,800 shares of the biopharmaceutical company’s stock valued at $1,108,000 after acquiring an additional 2,200 shares during the last quarter. Yorktown Management & Research Co Inc acquired a new position in shares of TG Therapeutics in the 2nd quarter worth approximately $383,000. Finally, Prudential Financial Inc. boosted its holdings in shares of 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 acquiring an additional 9,925 shares in the last quarter. 58.58% of the stock is currently owned by institutional investors and hedge funds.

TG Therapeutics Stock Up 0.2%

TGTX stock opened at $31.63 on Tuesday. TG Therapeutics has a twelve month low of $25.28 and a twelve month high of $46.48. The company has a quick ratio of 2.89, a current ratio of 3.82 and a debt-to-equity ratio of 0.40. The company has a market cap of $5.02 billion, a PE ratio of 11.38 and a beta of 1.86. The business’s 50-day simple moving average is $30.80 and its 200 day simple moving average is $32.38.

TG Therapeutics (NASDAQ:TGTX) last posted its quarterly earnings results on Monday, November 3rd. The biopharmaceutical company reported $2.43 EPS for the quarter, beating the consensus estimate of $0.24 by $2.19. TG Therapeutics had a return on equity of 133.24% and a net margin of 84.13%.The firm had revenue of $161.71 million during the quarter, compared to analysts’ expectations of $152.12 million. During the same quarter in the prior year, the firm posted $0.02 EPS. The company’s revenue for the quarter was up 92.7% on a year-over-year basis. On average, research analysts anticipate that TG Therapeutics will post 0.08 earnings per share for the current year.

TG Therapeutics Company Profile

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.