Brokerages Set TG Therapeutics, Inc. (NASDAQ:TGTX) PT at $50.25

TG Therapeutics, Inc. (NASDAQ:TGTX) has received a consensus recommendation of “Moderate Buy” from the five analysts that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $50.25.

Several analysts have commented on the company. B. Riley raised TG Therapeutics to a “strong-buy” rating in a research note on Tuesday, November 4th. HC Wainwright assumed coverage on TG Therapeutics in a research note on Monday, October 6th. They set a “buy” rating and a $60.00 price target for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of TG Therapeutics in a research report on Monday. JPMorgan Chase & Co. boosted their price objective on shares of TG Therapeutics from $46.00 to $49.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. Finally, Wall Street Zen upgraded shares of TG Therapeutics from a “hold” rating to a “buy” rating in a research note on Sunday, December 14th.

Insider Buying and Selling

In related news, Director Yann Echelard sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $32.57, for a total value of $162,850.00. Following the completion of the sale, the director owned 223,816 shares in the company, valued at $7,289,687.12. This trade represents a 2.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 10.64% of the stock is currently owned by insiders.

Hedge Funds Weigh In On TG Therapeutics

A number of large investors have recently modified their holdings of TGTX. Jump Financial LLC grew its stake in TG Therapeutics by 551.8% in the 2nd quarter. Jump Financial LLC now owns 320,022 shares of the biopharmaceutical company’s stock worth $11,518,000 after acquiring an additional 270,922 shares during the period. Marex Group plc purchased a new position in shares of TG Therapeutics during the 2nd quarter worth $10,017,000. Strs Ohio acquired a new stake in shares of TG Therapeutics during the first quarter worth $785,000. KLP Kapitalforvaltning AS grew its position 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 purchasing an additional 2,200 shares during the period. Finally, Yorktown Management & Research Co Inc purchased a new stake in shares of TG Therapeutics in the second quarter valued at $383,000. 58.58% of the stock is owned by hedge funds and other institutional investors.

TG Therapeutics Trading Down 2.6%

Shares of TG Therapeutics stock opened at $29.75 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.89 and a current ratio of 3.82. The company has a market capitalization of $4.72 billion, a P/E ratio of 10.70 and a beta of 2.01. TG Therapeutics has a 1 year low of $25.28 and a 1 year high of $46.48. The company’s fifty day moving average is $31.88 and its two-hundred day moving average is $33.09.

TG Therapeutics (NASDAQ:TGTX) last announced its earnings results on Monday, November 3rd. The biopharmaceutical company reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $2.19. TG Therapeutics had a net margin of 84.13% and a return on equity of 133.24%. The business had revenue of $161.71 million during the quarter, compared to analysts’ expectations of $152.12 million. During the same period in the prior year, the company earned $0.02 earnings per share. The business’s revenue was up 92.7% compared to the same quarter last year. Analysts forecast that TG Therapeutics will post 0.08 earnings per share for the current year.

About TG Therapeutics

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.