TG Therapeutics (NASDAQ:TGTX) Downgraded by StockNews.com

StockNews.com downgraded shares of TG Therapeutics (NASDAQ:TGTX) from a buy rating to a hold rating in a research note published on Saturday morning.

Several other equities research analysts also recently commented on the company. JPMorgan Chase & Co. raised their target price on TG Therapeutics from $22.00 to $23.00 and gave the company an overweight rating in a report on Wednesday, November 1st. B. Riley dropped their target price on TG Therapeutics from $32.00 to $24.00 and set a buy rating on the stock in a report on Friday, October 20th. HC Wainwright reiterated a buy rating and set a $41.00 target price on shares of TG Therapeutics in a report on Monday, September 18th. Jefferies Financial Group reiterated a buy rating and set a $23.00 target price on shares of TG Therapeutics in a report on Wednesday, November 1st. Finally, The Goldman Sachs Group upgraded TG Therapeutics from a sell rating to a neutral rating and dropped their price objective for the stock from $16.00 to $12.00 in a report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, TG Therapeutics has a consensus rating of Moderate Buy and a consensus target price of $22.25.

TG Therapeutics Stock Performance

NASDAQ TGTX opened at $12.82 on Friday. The firm has a market capitalization of $1.94 billion, a P/E ratio of -45.79 and a beta of 2.10. TG Therapeutics has a 1-year low of $6.46 and a 1-year high of $35.67. The company has a debt-to-equity ratio of 0.60, a current ratio of 5.53 and a quick ratio of 4.95. The business’s 50-day simple moving average is $8.87 and its 200-day simple moving average is $16.60.

TG Therapeutics (NASDAQ:TGTX) last announced its earnings results on Wednesday, November 1st. The biopharmaceutical company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.29 by $0.44. The business had revenue of $165.80 million for the quarter, compared to the consensus estimate of $23.91 million. TG Therapeutics had a negative return on equity of 35.58% and a negative net margin of 13.65%. The company’s revenue was up 17538.3% on a year-over-year basis. During the same period last year, the business posted ($0.26) EPS. Equities analysts predict that TG Therapeutics will post 0.02 EPS for the current year.

Institutional Investors Weigh In On TG Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ameritas Advisory Services LLC acquired a new position in shares of TG Therapeutics in the 1st quarter worth approximately $25,000. RFP Financial Group LLC acquired a new position in shares of TG Therapeutics in the 2nd quarter worth approximately $25,000. PNC Financial Services Group Inc. grew its position in shares of TG Therapeutics by 131.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 3,543 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 2,014 shares in the last quarter. Macquarie Group Ltd. grew its position in shares of TG Therapeutics by 102.3% in the 2nd quarter. Macquarie Group Ltd. now owns 10,190 shares of the biopharmaceutical company’s stock worth $43,000 after acquiring an additional 5,152 shares in the last quarter. Finally, Coppell Advisory Solutions LLC acquired a new position in shares of TG Therapeutics in the 2nd quarter worth approximately $46,000. 57.92% of the stock is currently owned by hedge funds and other institutional investors.

About TG Therapeutics

TG Therapeutics, Inc, a commercial stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel treatments for B-cell diseases. 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.