TG Therapeutics (NASDAQ:TGTX) Upgraded at Zacks Research

Zacks Research upgraded shares of TG Therapeutics (NASDAQ:TGTX) from a hold rating to a strong-buy rating in a research note issued to investors on Wednesday,Zacks reports.

A number of other brokerages have also recently commented on TGTX. Bank of America raised their price target on shares of TG Therapeutics from $17.00 to $20.00 and gave the stock an “underperform” rating in a research note on Tuesday, July 7th. Weiss Ratings cut shares of TG Therapeutics from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 23rd. JPMorgan Chase & Co. increased their target price on TG Therapeutics from $65.00 to $72.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. B. Riley Financial upped their target price on TG Therapeutics from $55.00 to $86.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Finally, HC Wainwright reissued a “buy” rating and issued a $78.00 price target on shares of TG Therapeutics in a report on Tuesday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $63.00.

TG Therapeutics Trading Up 3.2%

NASDAQ:TGTX opened at $59.83 on Wednesday. The stock has a market cap of $9.16 billion, a PE ratio of 21.84, a price-to-earnings-growth ratio of 2.53 and a beta of 1.89. The stock’s 50-day moving average is $55.80 and its two-hundred day moving average is $44.50. TG Therapeutics has a fifty-two week low of $26.76 and a fifty-two week high of $63.60. The company has a debt-to-equity ratio of 1.23, a current ratio of 4.27 and a quick ratio of 3.72.

Insider Buying and Selling at TG Therapeutics

In other news, Director Laurence Charney sold 5,000 shares of the stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $54.96, for a total value of $274,800.00. Following the transaction, the director directly owned 168,640 shares of the company’s stock, valued at $9,268,454.40. This represents a 2.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.87% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TG Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in TGTX. ACT Capital Partners L.P. purchased a new stake in shares of TG Therapeutics in the 3rd quarter valued at about $13,231,000. Russell Investments Group Ltd. lifted its position in shares of TG Therapeutics by 2.7% during the third quarter. Russell Investments Group Ltd. now owns 309,498 shares of the biopharmaceutical company’s stock valued at $17,264,000 after buying an additional 8,183 shares during the last quarter. Fifth Third Bancorp grew its position in TG Therapeutics by 181.1% during the 3rd quarter. Fifth Third Bancorp now owns 171,291 shares of the biopharmaceutical company’s stock worth $9,555,000 after purchasing an additional 110,365 shares during the period. Maryland State Retirement & Pension System grew its position in shares of TG Therapeutics by 65.2% in the third quarter. Maryland State Retirement & Pension System now owns 31,673 shares of the biopharmaceutical company’s stock valued at $1,767,000 after purchasing an additional 12,503 shares in the last quarter. Finally, Jacobi Capital Management LLC acquired a new stake in TG Therapeutics in the third quarter valued at approximately $57,000. Hedge funds and other institutional investors own 58.58% of the company’s stock.

TG Therapeutics Company Profile

TG Therapeutics, Inc is a commercial-stage biopharmaceutical company focused on developing and delivering medicines for B-cell diseases, including multiple sclerosis and certain blood cancers. The company’s research and development programs are centered on therapies that target B cells and the immune system.

TG Therapeutics’ primary marketed product is BRIUMVI (ublituximab-xiiy), an anti-CD20 monoclonal antibody approved in the United States for the treatment of relapsing forms of multiple sclerosis in adults.