TG Therapeutics, Inc. (NASDAQ:TGTX) Receives $31.83 Average PT from Brokerages

Shares of TG Therapeutics, Inc. (NASDAQ:TGTX) have been assigned an average rating of “Moderate Buy” from the six brokerages that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $31.83.

A number of equities analysts have weighed in on the stock. B. Riley upped their price objective on shares of TG Therapeutics from $29.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. The Goldman Sachs Group raised their price target on shares of TG Therapeutics from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, HC Wainwright reiterated a “buy” rating and set a $49.00 price objective on shares of TG Therapeutics in a research note on Tuesday, August 6th.

TG Therapeutics Trading Up 0.8 %

TGTX stock opened at $25.08 on Wednesday. TG Therapeutics has a 52-week low of $6.46 and a 52-week high of $26.03. The company has a quick ratio of 2.83, a current ratio of 3.58 and a debt-to-equity ratio of 0.58. The firm has a market cap of $3.88 billion, a P/E ratio of 109.04 and a beta of 2.21. The company’s 50-day simple moving average is $21.73 and its 200-day simple moving average is $18.15.

TG Therapeutics (NASDAQ:TGTX) last issued its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.08. The company had revenue of $73.47 million for the quarter, compared to analyst estimates of $65.92 million. TG Therapeutics had a return on equity of 57.73% and a net margin of 27.60%. TG Therapeutics’s quarterly revenue was up 357.0% compared to the same quarter last year. During the same period last year, the company earned ($0.34) earnings per share. As a group, equities analysts forecast that TG Therapeutics will post 0.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. purchased a new position in TG Therapeutics during the second quarter worth approximately $8,698,000. Eventide Asset Management LLC acquired a new position in shares of TG Therapeutics during the 4th quarter valued at about $7,506,000. Wellington Management Group LLP grew its holdings in shares of TG Therapeutics by 1.4% in the fourth quarter. Wellington Management Group LLP now owns 3,139,764 shares of the biopharmaceutical company’s stock valued at $53,627,000 after purchasing an additional 43,290 shares during the period. Bank of New York Mellon Corp increased its position in TG Therapeutics by 13.4% during the second quarter. Bank of New York Mellon Corp now owns 503,645 shares of the biopharmaceutical company’s stock worth $8,960,000 after purchasing an additional 59,523 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in TG Therapeutics by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,131,896 shares of the biopharmaceutical company’s stock worth $19,333,000 after purchasing an additional 19,214 shares during the period. 58.58% of the stock is currently owned by institutional investors and hedge funds.

TG Therapeutics Company Profile

TG Therapeutics, Inc, a commercial stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel treatments for B-cell mediated diseases in the United States and internationally. It provides BRIUMVI, an anti-CD20 monoclonal antibody for the treatment of adult patients with relapsing forms of multiple sclerosis (RMS), including clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease in adults.