TG Therapeutics, Inc. (NASDAQ:TGTX) Receives Consensus Rating of “Moderate Buy” from Brokerages

TG Therapeutics, Inc. (NASDAQ:TGTX) has been assigned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $52.50.

A number of analysts recently issued reports on the company. Weiss Ratings upgraded TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 1st. Zacks Research upgraded TG Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. Finally, HC Wainwright restated a “buy” rating and issued a $70.00 target price on shares of TG Therapeutics in a research note on Wednesday, May 27th.

TG Therapeutics Stock Performance

NASDAQ:TGTX opened at $53.22 on Friday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 5.12 and a current ratio of 5.81. TG Therapeutics has a 52-week low of $25.28 and a 52-week high of $54.07. The firm has a market cap of $8.15 billion, a price-to-earnings ratio of 18.61 and a beta of 1.68. The business’s fifty day moving average is $39.81 and its 200 day moving average is $33.63.

TG Therapeutics (NASDAQ:TGTX) last released its quarterly earnings data 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). TG Therapeutics had a net margin of 65.95% and a return on equity of 88.73%. The company had revenue of $204.92 million for the quarter, compared to the consensus estimate of $200.33 million. During the same quarter in the previous year, the firm posted $0.03 earnings per share. The business’s revenue for the quarter was up 69.5% compared to the same quarter last year. Research analysts predict that TG Therapeutics will post 1.51 EPS for the current year.

Hedge Funds Weigh In On TG Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. First Nebraska Trust Co bought a new position in TG Therapeutics in the 1st quarter worth about $233,000. Bank of America Corp DE increased its stake in TG Therapeutics by 71.7% in the 1st quarter. Bank of America Corp DE now owns 1,461,302 shares of the biopharmaceutical company’s stock worth $48,544,000 after acquiring an additional 610,195 shares during the last quarter. Edgestream Partners L.P. bought a new position in TG Therapeutics in the 1st quarter worth about $5,593,000. Amundi bought a new position in TG Therapeutics in the 1st quarter worth about $460,000. Finally, EverSource Wealth Advisors LLC increased its stake in TG Therapeutics by 51.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the biopharmaceutical company’s stock worth $35,000 after acquiring an additional 365 shares during the last quarter. 58.58% of the stock is currently owned by institutional investors.

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.