TG Therapeutics, Inc. (NASDAQ:TGTX) Receives $50.00 Consensus Target Price from Analysts

Shares of TG Therapeutics, Inc. (NASDAQ:TGTX) have earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $50.00.

Several research firms have issued reports on TGTX. Wall Street Zen cut TG Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Weiss Ratings reissued a “hold (c+)” rating on shares of TG Therapeutics in a research note on Monday, December 29th. Cantor Fitzgerald reissued an “overweight” rating on shares of TG Therapeutics in a research note on Wednesday, January 14th. JPMorgan Chase & Co. cut their target price on TG Therapeutics from $49.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday, February 2nd. Finally, The Goldman Sachs Group raised their target price on TG Therapeutics from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday, January 15th.

Institutional Investors Weigh In On TG Therapeutics

A number of institutional investors have recently modified their holdings of the company. Hsbc Holdings PLC grew its stake in shares of TG Therapeutics by 228.7% in the fourth quarter. Hsbc Holdings PLC now owns 146,087 shares of the biopharmaceutical company’s stock valued at $4,374,000 after buying an additional 101,646 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of TG Therapeutics by 29.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 23,058 shares of the biopharmaceutical company’s stock valued at $687,000 after buying an additional 5,292 shares in the last quarter. Corient Private Wealth LLC grew its stake in shares of TG Therapeutics by 3.6% in the fourth quarter. Corient Private Wealth LLC now owns 41,764 shares of the biopharmaceutical company’s stock valued at $1,245,000 after buying an additional 1,469 shares in the last quarter. Invesco Ltd. grew its stake in shares of TG Therapeutics by 47.1% in the fourth quarter. Invesco Ltd. now owns 1,609,815 shares of the biopharmaceutical company’s stock valued at $47,989,000 after buying an additional 515,481 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in shares of TG Therapeutics in the fourth quarter valued at $212,000. 58.58% of the stock is owned by institutional investors and hedge funds.

TG Therapeutics Price Performance

TGTX stock opened at $33.39 on Friday. The business has a fifty day moving average of $30.06 and a two-hundred day moving average of $31.54. The company has a quick ratio of 3.29, a current ratio of 4.10 and a debt-to-equity ratio of 0.38. The stock has a market cap of $5.33 billion, a price-to-earnings ratio of 12.05 and a beta of 1.76. TG Therapeutics has a 52-week low of $25.28 and a 52-week high of $46.48.

TG Therapeutics (NASDAQ:TGTX) last posted its earnings results on Thursday, February 26th. The biopharmaceutical company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.21). The business had revenue of $192.57 million for the quarter, compared to analyst estimates of $192.15 million. TG Therapeutics had a return on equity of 101.12% and a net margin of 72.56%.TG Therapeutics’s revenue was up 78.0% compared to the same quarter last year. During the same period last year, the business earned $0.15 EPS. As a group, research analysts anticipate 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.