StockNews.com Downgrades TG Therapeutics (NASDAQ:TGTX) to Sell

TG Therapeutics (NASDAQ:TGTX) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Sunday.

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

TG Therapeutics Trading Up 0.2 %

NASDAQ:TGTX opened at $32.26 on Friday. The company has a current ratio of 4.59, a quick ratio of 3.91 and a debt-to-equity ratio of 1.27. TG Therapeutics has a 12 month low of $12.84 and a 12 month high of $36.84. The stock has a market cap of $5.02 billion, a price-to-earnings ratio of -322.57 and a beta of 2.25. The company has a 50-day moving average price of $29.62 and a 200-day moving average price of $24.01.

TG Therapeutics (NASDAQ:TGTX) last issued its earnings results on Monday, November 4th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). The firm had revenue of $83.90 million during the quarter, compared to the consensus estimate of $81.68 million. TG Therapeutics had a negative return on equity of 8.32% and a negative net margin of 5.42%. The company’s quarterly revenue was down 49.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.73 EPS. Equities analysts predict that TG Therapeutics will post 0.17 EPS for the current year.

Insider Activity at TG Therapeutics

In related news, Director Sagar Lonial sold 5,000 shares of TG Therapeutics stock in a transaction dated Monday, November 11th. The shares were 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 of the company’s stock, valued at approximately $3,049,935.80. The trade was a 4.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 10.50% of the stock is owned by insiders.

Hedge Funds Weigh In On TG Therapeutics

Large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its position in shares of TG Therapeutics by 13.4% during the second 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. Allspring Global Investments Holdings LLC raised its stake in shares of 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 valued at $326,000 after acquiring an additional 16,761 shares in the last quarter. Iridian Asset Management LLC CT purchased a new stake in shares of TG Therapeutics in the second quarter valued at approximately $700,000. Burney Co. purchased a new position in TG Therapeutics during the 2nd quarter worth $801,000. Finally, Principal Financial Group Inc. increased its holdings 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 worth $833,000 after purchasing an additional 11,443 shares during the period. Hedge funds and other institutional investors 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.