TG Therapeutics (NASDAQ:TGTX) Upgraded to “Sell” at StockNews.com

StockNews.com upgraded shares of TG Therapeutics (NASDAQ:TGTXGet Rating) to a sell rating in a research note issued to investors on Friday.

Several other analysts have also issued reports on the stock. HC Wainwright decreased their price target on shares of TG Therapeutics from $68.00 to $19.00 and set a buy rating on the stock in a research report on Monday, April 18th. Cantor Fitzgerald restated an overweight rating on shares of TG Therapeutics in a research report on Monday, May 9th. B. Riley decreased their price target on shares of TG Therapeutics from $23.00 to $17.00 and set a buy rating on the stock in a research report on Monday, June 13th. Finally, Bank of America started coverage on shares of TG Therapeutics in a research report on Friday, May 20th. They issued an underperform rating on the stock. Three analysts have rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $21.25.

NASDAQ:TGTX opened at $4.04 on Friday. TG Therapeutics has a 1 year low of $3.48 and a 1 year high of $41.00. The firm’s fifty day simple moving average is $6.12 and its 200 day simple moving average is $10.58. The company has a current ratio of 4.43, a quick ratio of 4.43 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $583.52 million, a PE ratio of -1.65 and a beta of 2.28.

TG Therapeutics (NASDAQ:TGTXGet Rating) last posted its quarterly earnings results on Tuesday, May 10th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.55) by $0.04. The company had revenue of $2.02 million for the quarter, compared to analyst estimates of $1.54 million. TG Therapeutics had a negative net margin of 4,126.45% and a negative return on equity of 118.49%. As a group, analysts anticipate that TG Therapeutics will post -2.1 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp grew its position in shares of TG Therapeutics by 65.3% during the 1st quarter. State Street Corp now owns 9,628,584 shares of the biopharmaceutical company’s stock worth $91,568,000 after buying an additional 3,804,406 shares during the period. Maverick Capital Ltd. grew its position in shares of TG Therapeutics by 83.1% during the 4th quarter. Maverick Capital Ltd. now owns 6,034,875 shares of the biopharmaceutical company’s stock worth $114,663,000 after buying an additional 2,738,424 shares during the period. Norges Bank acquired a new stake in shares of TG Therapeutics during the 4th quarter worth approximately $19,436,000. Federated Hermes Inc. acquired a new position in TG Therapeutics during the first quarter valued at approximately $7,442,000. Finally, Invesco Ltd. grew its holdings in TG Therapeutics by 60.4% during the third quarter. Invesco Ltd. now owns 1,798,393 shares of the biopharmaceutical company’s stock valued at $59,849,000 after purchasing an additional 677,100 shares during the period. 70.52% of the stock is owned by institutional investors.

TG Therapeutics Company Profile (Get Rating)

TG Therapeutics, Inc, a commercial stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel treatments for B-cell malignancies and autoimmune diseases. Its therapeutic product candidates include Ublituximab, an investigational glycoengineered monoclonal antibody for the treatment of B-cell non-hodgkin lymphoma, chronic lymphocytic leukemia (CLL), and relapsing forms of multiple sclerosis; and Umbralisib, an oral inhibitor of PI3K-delta and CK1-epsilon for the treatment of CLL, marginal zone lymphoma, and follicular lymphoma.

Further Reading

Analyst Recommendations for TG Therapeutics (NASDAQ:TGTX)

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