TG Therapeutics (NASDAQ:TGTX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm presently has a $4.50 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 9.49% from the company’s previous close.
According to Zacks, “TG Therapeutics, Inc. is a biopharmaceutical company focused on the acquisition, development and commercialization of pharmaceutical products for the treatment of cancer and other underserved therapeutic needs. The Company is focused on the development of a monoclonal antibody for the treatment of various B-cell proliferative disorders including lymphoma, leukemia, and auto-immune diseases. TG Therapeutics, Inc., formerly known as Manhattan Pharmaceuticals, Inc., is based in New York. “
TGTX has been the topic of a number of other reports. BidaskClub cut shares of TG Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, January 17th. B. Riley started coverage on shares of TG Therapeutics in a research report on Tuesday, January 8th. They set a “buy” rating and a $10.00 price target on the stock. ValuEngine upgraded shares of TG Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, October 24th. HC Wainwright reiterated a “buy” rating on shares of TG Therapeutics in a research report on Tuesday, January 22nd. Finally, Jefferies Financial Group started coverage on shares of TG Therapeutics in a research report on Wednesday. They set a “buy” rating and a $8.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $13.58.
Shares of TGTX stock traded up $0.07 during trading on Wednesday, hitting $4.11. The company had a trading volume of 43,729 shares, compared to its average volume of 1,297,866. The stock has a market cap of $334.92 million, a price-to-earnings ratio of -2.15 and a beta of 2.07. TG Therapeutics has a 52 week low of $3.32 and a 52 week high of $17.35.
TG Therapeutics (NASDAQ:TGTX) last posted its quarterly earnings data on Friday, November 9th. The biopharmaceutical company reported ($0.43) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.55) by $0.12. TG Therapeutics had a negative net margin of 99,001.33% and a negative return on equity of 185.20%. The company had revenue of $0.04 million for the quarter, compared to analysts’ expectations of $0.04 million. Equities analysts anticipate that TG Therapeutics will post -2.03 earnings per share for the current fiscal year.
In other TG Therapeutics news, CFO Sean A. Power sold 37,275 shares of the stock in a transaction that occurred on Wednesday, January 2nd. The shares were sold at an average price of $4.13, for a total transaction of $153,945.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 15.10% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of TGTX. BlackRock Inc. grew its holdings in shares of TG Therapeutics by 17.4% in the second quarter. BlackRock Inc. now owns 4,081,050 shares of the biopharmaceutical company’s stock worth $53,667,000 after purchasing an additional 605,844 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of TG Therapeutics in the third quarter worth approximately $1,974,000. Nexthera Capital LP grew its holdings in shares of TG Therapeutics by 264.2% in the third quarter. Nexthera Capital LP now owns 445,000 shares of the biopharmaceutical company’s stock worth $2,492,000 after purchasing an additional 322,800 shares during the last quarter. Highland Capital Management LP grew its holdings in shares of TG Therapeutics by 60.5% in the third quarter. Highland Capital Management LP now owns 753,151 shares of the biopharmaceutical company’s stock worth $4,218,000 after purchasing an additional 283,910 shares during the last quarter. Finally, Vanguard Group Inc grew its holdings in shares of TG Therapeutics by 9.6% in the third quarter. Vanguard Group Inc now owns 3,058,080 shares of the biopharmaceutical company’s stock worth $17,125,000 after purchasing an additional 268,483 shares during the last quarter. Hedge funds and other institutional investors own 57.42% of the company’s stock.
TG Therapeutics Company Profile
TG Therapeutics, Inc, a biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel treatments for B-cell malignancies and autoimmune diseases in the United States. It develops TG-1101 (ublituximab), a chimeric, glycoengineered monoclonal antibody that targets an epitope on the CD20 antigen found on the surface of B-lymphocytes developed to aid in the depletion of circulating B-cells; and TG-1101 in combination with TGR-1202 for relapsed/refractory chronic lymphocytic leukemia.
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