TG Therapeutics (NASDAQ:TGTX) Receives Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of TG Therapeutics (NASDAQ:TGTX) in a research report released on Monday morning,Benzinga reports. The firm currently has a $70.00 target price on the biopharmaceutical company’s stock.

Several other equities analysts also recently weighed in on the company. Weiss Ratings raised TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 1st. Jefferies Financial Group reissued a “buy” rating and set a $83.00 price target on shares of TG Therapeutics in a research report on Monday, June 22nd. Finally, Zacks Research raised shares of TG Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $58.60.

TG Therapeutics Stock Down 1.2%

TG Therapeutics stock opened at $54.82 on Monday. The company has a market capitalization of $8.39 billion, a PE ratio of 19.15, a price-to-earnings-growth ratio of 2.18 and a beta of 1.60. 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 fifty-two week low of $25.28 and a fifty-two week high of $57.38. The firm has a 50 day moving average price of $44.35 and a 200 day moving average price of $35.58.

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

Institutional Trading of TG Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its stake in TG Therapeutics by 51.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the biopharmaceutical company’s stock valued at $35,000 after purchasing an additional 365 shares during the period. Maryland State Retirement & Pension System increased its position in TG Therapeutics by 2.0% in the 4th quarter. Maryland State Retirement & Pension System now owns 19,899 shares of the biopharmaceutical company’s stock valued at $593,000 after acquiring an additional 393 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in TG Therapeutics by 1.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,406 shares of the biopharmaceutical company’s stock valued at $1,135,000 after acquiring an additional 441 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in TG Therapeutics by 16.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,147 shares of the biopharmaceutical company’s stock worth $94,000 after acquiring an additional 454 shares during the period. Finally, HB Wealth Management LLC grew its stake in shares of TG Therapeutics by 6.7% in the 1st quarter. HB Wealth Management LLC now owns 7,514 shares of the biopharmaceutical company’s stock valued at $250,000 after purchasing an additional 475 shares during the last quarter. Institutional investors and hedge funds own 58.58% of the company’s stock.

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.