TG Therapeutics (NASDAQ:TGTX) Hits New 12-Month High on Analyst Upgrade

TG Therapeutics, Inc. (NASDAQ:TGTX)’s stock price hit a new 52-week high during mid-day trading on Tuesday after Bank of America raised their price target on the stock from $17.00 to $20.00. Bank of America currently has an underperform rating on the stock. TG Therapeutics traded as high as $57.98 and last traded at $57.7660, with a volume of 685159 shares trading hands. The stock had previously closed at $55.47.

A number of other analysts also recently issued reports on the stock. HC Wainwright restated a “buy” rating and set a $70.00 price objective on shares of TG Therapeutics in a report on Monday. Jefferies Financial Group restated a “buy” rating and set a $83.00 price target on shares of TG Therapeutics in a research note on Monday, June 22nd. Weiss Ratings raised shares of TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. Finally, Zacks Research raised TG Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $52.17.

Institutional Trading of TG Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Danske Bank A S bought a new position in TG Therapeutics during the 3rd quarter worth approximately $25,000. EverSource Wealth Advisors LLC boosted its position in TG Therapeutics by 51.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the biopharmaceutical company’s stock valued at $35,000 after buying an additional 365 shares during the period. Hantz Financial Services Inc. grew its holdings in TG Therapeutics by 82.7% in the 4th quarter. Hantz Financial Services Inc. now owns 1,237 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 560 shares during the last quarter. Truvestments Capital LLC increased its position in shares of TG Therapeutics by 172.4% in the fourth quarter. Truvestments Capital LLC now owns 1,621 shares of the biopharmaceutical company’s stock valued at $48,000 after acquiring an additional 1,026 shares during the period. Finally, Kemnay Advisory Services Inc. bought a new position in shares of TG Therapeutics during the fourth quarter valued at about $52,000. Hedge funds and other institutional investors own 58.58% of the company’s stock.

TG Therapeutics Trading Up 5.0%

The company has a quick ratio of 5.12, a current ratio of 5.81 and a debt-to-equity ratio of 1.28. The stock’s fifty day moving average price is $44.35 and its two-hundred day moving average price is $35.58. The company has a market capitalization of $8.91 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 2.18 and a beta of 1.60.

TG Therapeutics (NASDAQ:TGTX) last announced its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.11). The business had revenue of $204.92 million for the quarter, compared to analysts’ expectations of $200.33 million. TG Therapeutics had a net margin of 65.95% and a return on equity of 88.73%. The firm’s revenue for the quarter was up 69.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.03 EPS. Sell-side analysts anticipate that TG Therapeutics, Inc. will post 1.51 earnings per share for the current year.

TG Therapeutics Company Profile

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.