TG Therapeutics (NASDAQ:TGTX) Stock Price Expected to Rise, HC Wainwright Analyst Says

TG Therapeutics (NASDAQ:TGTX) had its price objective boosted by research analysts at HC Wainwright from $49.00 to $55.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s target price suggests a potential upside of 121.06% from the stock’s previous close.

A number of other equities analysts have also weighed in on TGTX. B. Riley lifted their price objective on TG Therapeutics from $29.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. TD Cowen started coverage on TG Therapeutics in a research note on Tuesday, October 29th. They issued a “buy” rating and a $50.00 price target for the company. Finally, The Goldman Sachs Group lifted their price target on TG Therapeutics from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, TG Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $37.67.

TG Therapeutics Stock Performance

TGTX traded up $0.52 on Tuesday, reaching $24.88. 1,560,444 shares of the stock were exchanged, compared to its average volume of 3,637,472. The company’s 50-day moving average price is $23.51 and its 200 day moving average price is $20.17. TG Therapeutics has a fifty-two week low of $9.81 and a fifty-two week high of $26.99. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.58 and a quick ratio of 2.83. The firm has a market capitalization of $3.85 billion, a PE ratio of 40.79 and a beta of 2.19.

TG Therapeutics (NASDAQ:TGTX) last released its quarterly earnings data on Monday, November 4th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The company had revenue of $83.90 million for the quarter, compared to analysts’ expectations of $81.68 million. TG Therapeutics had a net margin of 27.60% and a return on equity of 57.73%. The business’s quarterly revenue was down 49.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.73 EPS. As a group, sell-side analysts forecast that TG Therapeutics will post 0.13 EPS for the current fiscal year.

Institutional Investors Weigh In On TG Therapeutics

Large investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. purchased a new stake in TG Therapeutics during the 2nd quarter worth approximately $8,698,000. Marshall Wace LLP acquired a new position in shares of TG Therapeutics during the 2nd quarter worth approximately $36,501,000. Raymond James & Associates boosted its holdings in shares of TG Therapeutics by 35.9% during the 3rd quarter. Raymond James & Associates now owns 170,160 shares of the biopharmaceutical company’s stock worth $3,980,000 after purchasing an additional 44,972 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of 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 worth $8,960,000 after purchasing an additional 59,523 shares during the last quarter. Finally, Cetera Advisors LLC acquired a new position in shares of TG Therapeutics during the 1st quarter worth approximately $622,000. 58.58% of the stock is currently owned by hedge funds and other institutional investors.

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.