TG Therapeutics (NASDAQ:TGTX) Earns Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of TG Therapeutics (NASDAQ:TGTX) in a report published on Wednesday, Benzinga reports. HC Wainwright currently has a $49.00 target price on the biopharmaceutical company’s stock.

TGTX has been the subject of several other research reports. The Goldman Sachs Group upped their price target on shares of TG Therapeutics from $18.00 to $20.00 and gave the company a neutral rating in a research report on Wednesday, August 7th. B. Riley upped their target price on shares of TG Therapeutics from $29.00 to $34.00 and gave the company a buy rating in a report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, TG Therapeutics presently has an average rating of Moderate Buy and a consensus price target of $31.83.

TG Therapeutics Stock Performance

Shares of TGTX stock opened at $24.65 on Wednesday. The stock’s 50-day moving average is $22.08 and its two-hundred day moving average is $18.35. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.83 and a current ratio of 3.58. TG Therapeutics has a 1 year low of $6.46 and a 1 year high of $26.41. The firm has a market cap of $3.81 billion, a price-to-earnings ratio of 107.17 and a beta of 2.21.

TG Therapeutics (NASDAQ:TGTX) last released its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.08. TG Therapeutics had a return on equity of 57.73% and a net margin of 27.60%. The firm had revenue of $73.47 million for the quarter, compared to the consensus estimate of $65.92 million. During the same quarter last year, the business posted ($0.34) EPS. The firm’s quarterly revenue was up 357.0% compared to the same quarter last year. Analysts predict that TG Therapeutics will post 0.13 earnings per share for the current year.

Institutional Trading of TG Therapeutics

Hedge funds have recently made changes to their positions in the company. Assenagon Asset Management S.A. purchased a new position in TG Therapeutics during the second quarter worth about $8,698,000. Eventide Asset Management LLC purchased a new position in shares of TG Therapeutics during the 4th quarter worth approximately $7,506,000. Bank of New York Mellon Corp lifted its holdings in shares of TG Therapeutics by 13.4% in 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. Wellington Management Group LLP boosted its stake in shares of TG Therapeutics by 1.4% in the fourth quarter. Wellington Management Group LLP now owns 3,139,764 shares of the biopharmaceutical company’s stock valued at $53,627,000 after buying an additional 43,290 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in TG Therapeutics by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,131,896 shares of the biopharmaceutical company’s stock worth $19,333,000 after acquiring an additional 19,214 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.