TG Therapeutics (NASDAQ:TGTX) Downgraded by StockNews.com to “Sell”

StockNews.com cut shares of TG Therapeutics (NASDAQ:TGTX) from a hold rating to a sell rating in a research note issued to investors on Friday morning.

TGTX has been the topic of a number of other reports. TD Cowen initiated coverage on TG Therapeutics in a report on Tuesday, October 29th. They set a “buy” rating and a $50.00 price target on the stock. The Goldman Sachs Group raised their price target on shares of TG Therapeutics from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. HC Wainwright reiterated a “buy” rating and issued a $55.00 price target on shares of TG Therapeutics in a research note on Wednesday, January 15th. Finally, JPMorgan Chase & Co. increased their price objective on shares of TG Therapeutics from $30.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $40.67.

TG Therapeutics Stock Performance

Shares of TG Therapeutics stock opened at $31.70 on Friday. TG Therapeutics has a 1 year low of $12.84 and a 1 year high of $36.84. The firm’s 50-day moving average is $31.63 and its 200 day moving average is $26.53. The stock has a market cap of $4.93 billion, a price-to-earnings ratio of -316.97 and a beta of 2.24. The company has a debt-to-equity ratio of 1.27, a current ratio of 4.59 and a quick ratio of 3.91.

TG Therapeutics (NASDAQ:TGTX) last posted its quarterly earnings results on Monday, November 4th. The biopharmaceutical company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). TG Therapeutics had a negative net margin of 5.42% and a negative return on equity of 8.32%. The firm had revenue of $83.90 million for the quarter, compared to analysts’ expectations of $81.68 million. During the same quarter in the previous year, the company earned $0.73 EPS. The company’s quarterly revenue was down 49.4% compared to the same quarter last year. Sell-side analysts anticipate that TG Therapeutics will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling

In other TG Therapeutics news, CFO Sean A. Power sold 10,021 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $28.53, for a total value of $285,899.13. Following the completion of the sale, the chief financial officer now owns 660,611 shares in the company, valued at $18,847,231.83. This represents a 1.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Sagar Lonial sold 5,000 shares of TG Therapeutics stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $30.44, for a total value of $152,200.00. Following the transaction, the director now directly owns 100,195 shares in the company, valued at approximately $3,049,935.80. The trade was a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,358 shares of company stock valued at $781,497. 10.50% of the stock is owned by insiders.

Institutional Investors Weigh In On TG Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp boosted its position in shares of TG Therapeutics by 35.8% in the third quarter. State Street Corp now owns 9,094,158 shares of the biopharmaceutical company’s stock worth $212,712,000 after purchasing an additional 2,398,015 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of TG Therapeutics by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,184,609 shares of the biopharmaceutical company’s stock valued at $27,708,000 after buying an additional 7,939 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in TG Therapeutics by 7.5% in the 4th quarter. Principal Financial Group Inc. now owns 830,184 shares of the biopharmaceutical company’s stock worth $24,989,000 after buying an additional 57,996 shares during the period. JPMorgan Chase & Co. increased its stake in TG Therapeutics by 60.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 720,798 shares of the biopharmaceutical company’s stock worth $16,859,000 after buying an additional 270,286 shares in the last quarter. Finally, Braun Stacey Associates Inc. bought a new stake in TG Therapeutics during the fourth quarter valued at about $13,328,000. 58.58% of the stock is owned by hedge funds and other institutional investors.

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.