TG Therapeutics (NASDAQ:TGTX) Downgraded to Strong Sell Rating by Zacks Research

Zacks Research lowered shares of TG Therapeutics (NASDAQ:TGTX) from a hold rating to a strong sell rating in a research note published on Monday,Zacks reports.

Other equities analysts also recently issued reports about the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $83.00 target price on shares of TG Therapeutics in a research note on Monday, June 22nd. Bank of America increased their price target on shares of TG Therapeutics from $17.00 to $20.00 and gave the company an “underperform” rating in a research note on Tuesday, July 7th. Weiss Ratings restated a “hold (c+)” rating on shares of TG Therapeutics in a report on Wednesday, July 29th. B. Riley Financial lifted their price target on shares of TG Therapeutics from $55.00 to $86.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Finally, JPMorgan Chase & Co. lifted their price target on shares of TG Therapeutics from $65.00 to $72.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, TG Therapeutics has a consensus rating of “Hold” and a consensus price target of $63.00.

TG Therapeutics Stock Down 0.4%

Shares of TGTX opened at $55.74 on Monday. TG Therapeutics has a 52-week low of $26.76 and a 52-week high of $59.30. The company has a quick ratio of 3.72, a current ratio of 4.27 and a debt-to-equity ratio of 1.23. The stock has a fifty day simple moving average of $53.56 and a two-hundred day simple moving average of $43.25. The company has a market capitalization of $8.53 billion, a PE ratio of 20.34, a price-to-earnings-growth ratio of 2.40 and a beta of 1.67.

TG Therapeutics (NASDAQ:TGTX) last announced its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.26). TG Therapeutics had a net margin of 55.22% and a return on equity of 73.49%. The firm had revenue of $240.34 million for the quarter, compared to analyst estimates of $229.77 million. During the same period in the previous year, the firm posted $0.17 EPS. The company’s revenue was up 70.2% compared to the same quarter last year. As a group, equities analysts forecast that TG Therapeutics will post 0.92 EPS for the current year.

Institutional Trading of TG Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in TG Therapeutics in the second quarter valued at about $1,211,429,000. California State Teachers Retirement System increased its position in shares of TG Therapeutics by 5,233.8% during the second quarter. California State Teachers Retirement System now owns 9,374,083 shares of the biopharmaceutical company’s stock valued at $515,012,000 after acquiring an additional 9,198,333 shares during the last quarter. State Street Corp raised its stake in shares of TG Therapeutics by 4.7% in the 4th quarter. State Street Corp now owns 8,479,999 shares of the biopharmaceutical company’s stock valued at $252,789,000 after acquiring an additional 379,380 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of TG Therapeutics by 35.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,051,132 shares of the biopharmaceutical company’s stock valued at $61,144,000 after acquiring an additional 531,759 shares during the period. Finally, Pictet Asset Management Holding SA raised its stake in shares of TG Therapeutics by 19.6% in the 1st quarter. Pictet Asset Management Holding SA now owns 1,747,373 shares of the biopharmaceutical company’s stock valued at $58,048,000 after acquiring an additional 286,325 shares during the period. 58.58% of the stock is currently owned by hedge funds and other institutional investors.

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.