TG Therapeutics’ (TGTX) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of TG Therapeutics (NASDAQ:TGTX) in a report released on Monday morning, Benzinga reports. HC Wainwright currently has a $41.00 target price on the biopharmaceutical company’s stock.

Several other equities analysts also recently weighed in on the stock. StockNews.com downgraded shares of TG Therapeutics from a hold rating to a sell rating in a report on Sunday, August 27th. JPMorgan Chase & Co. lowered their price target on shares of TG Therapeutics from $34.00 to $22.00 and set an overweight rating for the company in a report on Monday, August 7th. B. Riley reiterated a buy rating and set a $32.00 price target (down from $42.00) on shares of TG Therapeutics in a report on Tuesday, August 1st. Finally, The Goldman Sachs Group upgraded shares of TG Therapeutics from a sell rating to a neutral rating and lowered their price target for the stock from $16.00 to $12.00 in a report on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, TG Therapeutics has an average rating of Hold and a consensus target price of $23.14.

TG Therapeutics Stock Performance

NASDAQ:TGTX opened at $9.51 on Monday. The company has a current ratio of 2.87, a quick ratio of 2.45 and a debt-to-equity ratio of 2.42. The firm has a 50-day moving average price of $13.75 and a two-hundred day moving average price of $19.88. TG Therapeutics has a twelve month low of $4.86 and a twelve month high of $35.67. The company has a market capitalization of $1.44 billion, a P/E ratio of -7.49 and a beta of 2.09.

TG Therapeutics (NASDAQ:TGTX) last posted its earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.08). TG Therapeutics had a negative net margin of 730.34% and a negative return on equity of 309.58%. The business had revenue of $16.07 million for the quarter, compared to analysts’ expectations of $17.39 million. During the same quarter last year, the business posted ($0.30) earnings per share. The business’s revenue was up 2606.1% compared to the same quarter last year. As a group, research analysts expect that TG Therapeutics will post -0.72 earnings per share for the current fiscal year.

Insider Activity at TG Therapeutics

In related news, CEO Michael S. Weiss bought 100,000 shares of the stock in a transaction that occurred on Friday, August 11th. The stock was purchased at an average cost of $10.13 per share, for a total transaction of $1,013,000.00. Following the completion of the acquisition, the chief executive officer now owns 12,073,021 shares in the company, valued at $122,299,702.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other TG Therapeutics news, Director Sagar Lonial sold 34,854 shares of TG Therapeutics stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $23.37, for a total transaction of $814,537.98. Following the transaction, the director now directly owns 93,878 shares of the company’s stock, valued at $2,193,928.86. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael S. Weiss purchased 100,000 shares of TG Therapeutics stock in a transaction on Friday, August 11th. The shares were acquired at an average cost of $10.13 per share, for a total transaction of $1,013,000.00. Following the completion of the transaction, the chief executive officer now owns 12,073,021 shares of the company’s stock, valued at $122,299,702.73. The disclosure for this purchase can be found here. 9.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Cim Investment Management Inc. lifted its position in shares of TG Therapeutics by 3.6% during the first quarter. Cim Investment Management Inc. now owns 15,521 shares of the biopharmaceutical company’s stock worth $233,000 after purchasing an additional 535 shares in the last quarter. Ameritas Investment Partners Inc. lifted its position in shares of TG Therapeutics by 5.9% during the first quarter. Ameritas Investment Partners Inc. now owns 10,407 shares of the biopharmaceutical company’s stock worth $157,000 after purchasing an additional 580 shares in the last quarter. RFP Financial Group LLC acquired a new position in shares of TG Therapeutics during the second quarter worth $25,000. Arizona State Retirement System lifted its position in shares of TG Therapeutics by 2.7% during the first quarter. Arizona State Retirement System now owns 40,007 shares of the biopharmaceutical company’s stock worth $602,000 after purchasing an additional 1,064 shares in the last quarter. Finally, Ameritas Advisory Services LLC acquired a new position in shares of TG Therapeutics during the first quarter worth $25,000. 57.92% of the stock is owned by institutional investors and hedge funds.

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 diseases. 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.