Analysts Set TG Therapeutics, Inc. (NASDAQ:TGTX) Price Target at $52.50

TG Therapeutics, Inc. (NASDAQ:TGTX) has received a consensus rating of “Moderate Buy” from the seven analysts that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $52.50.

Several research analysts recently commented on TGTX shares. JPMorgan Chase & Co. decreased their target price on shares of TG Therapeutics from $49.00 to $46.00 and set an “overweight” rating on the stock in a research note on Monday, February 2nd. Weiss Ratings raised shares of TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 1st. HC Wainwright reissued a “buy” rating and issued a $70.00 price target on shares of TG Therapeutics in a report on Wednesday, May 27th. Zacks Research cut shares of TG Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Friday, May 1st. Finally, Wall Street Zen downgraded shares of TG Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th.

Hedge Funds Weigh In On TG Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Congress Asset Management Co. bought a new position in shares of TG Therapeutics during the fourth quarter valued at about $57,307,000. Nordea Investment Management AB bought a new position in shares of TG Therapeutics during the fourth quarter valued at about $2,356,000. Penn Capital Management Company LLC raised its stake in shares of TG Therapeutics by 17.6% during the third quarter. Penn Capital Management Company LLC now owns 521,260 shares of the biopharmaceutical company’s stock valued at $18,877,000 after acquiring an additional 77,895 shares during the last quarter. Public Sector Pension Investment Board increased its position in TG Therapeutics by 14.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 529,271 shares of the biopharmaceutical company’s stock valued at $19,120,000 after purchasing an additional 66,911 shares during the period. Finally, JPMorgan Chase & Co. increased its position in TG Therapeutics by 56.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 227,934 shares of the biopharmaceutical company’s stock valued at $8,234,000 after purchasing an additional 81,907 shares during the period. 58.58% of the stock is owned by institutional investors.

TG Therapeutics Stock Performance

NASDAQ TGTX opened at $37.94 on Monday. The firm has a market cap of $5.81 billion, a PE ratio of 13.27 and a beta of 1.68. TG Therapeutics has a 1-year low of $25.28 and a 1-year high of $44.65. The stock has a 50-day moving average of $36.21 and a 200-day moving average of $32.32. The company has a current ratio of 5.81, a quick ratio of 5.12 and a debt-to-equity ratio of 1.28.

TG Therapeutics (NASDAQ:TGTX) last posted its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.11). The company had revenue of $204.92 million for the quarter, compared to the consensus estimate of $200.33 million. TG Therapeutics had a return on equity of 88.73% and a net margin of 65.95%.TG Therapeutics’s revenue was up 69.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.03 earnings per share. As a group, sell-side analysts forecast that TG Therapeutics will post 1.31 EPS 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.