JPMorgan Chase & Co. Reiterates “Overweight” Rating for TG Therapeutics (NASDAQ:TGTX)

TG Therapeutics (NASDAQ:TGTX)‘s stock had its “overweight” rating reiterated by analysts at JPMorgan Chase & Co. in a research note issued to investors on Thursday, Benzinga reports. They presently have a $25.00 price target on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 81.42% from the stock’s previous close.

Other analysts have also issued research reports about the company. The Goldman Sachs Group boosted their price target on TG Therapeutics from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Thursday, February 29th. StockNews.com lowered TG Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, February 24th. B. Riley boosted their price target on TG Therapeutics from $24.00 to $29.00 and gave the company a “buy” rating in a report on Monday, February 5th. Finally, HC Wainwright reissued a “buy” rating and set a $45.00 price target on shares of TG Therapeutics in a report on Thursday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $29.00.

TG Therapeutics Stock Down 1.5 %

TGTX stock opened at $13.78 on Thursday. The stock has a market capitalization of $2.13 billion, a P/E ratio of 689.34 and a beta of 2.30. The company has a debt-to-equity ratio of 0.62, a current ratio of 5.92 and a quick ratio of 5.18. TG Therapeutics has a 1-year low of $6.46 and a 1-year high of $35.67. The business has a fifty day moving average price of $15.11 and a 200-day moving average price of $13.91.

TG Therapeutics (NASDAQ:TGTX) last posted its quarterly earnings data on Wednesday, February 28th. The biopharmaceutical company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.03. The company had revenue of $43.97 million during the quarter, compared to analysts’ expectations of $40.06 million. TG Therapeutics had a return on equity of 12.89% and a net margin of 5.42%. During the same quarter in the prior year, the business earned ($0.39) earnings per share. Equities analysts forecast that TG Therapeutics will post -0.12 earnings per share for the current fiscal year.

Insider Transactions at TG Therapeutics

In other news, Director Laurence N. Charney sold 22,000 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $15.97, for a total value of $351,340.00. Following the completion of the transaction, the director now owns 215,229 shares of the company’s stock, valued at $3,437,207.13. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 9.20% of the company’s stock.

Hedge Funds Weigh In On TG Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. boosted its stake in TG Therapeutics by 16.9% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 184,815 shares of the biopharmaceutical company’s stock valued at $2,811,000 after buying an additional 26,761 shares during the last quarter. Los Angeles Capital Management LLC raised its position in TG Therapeutics by 55.8% during the first quarter. Los Angeles Capital Management LLC now owns 76,616 shares of the biopharmaceutical company’s stock valued at $1,165,000 after purchasing an additional 27,437 shares during the period. Vanguard Group Inc. raised its position in TG Therapeutics by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 13,670,944 shares of the biopharmaceutical company’s stock valued at $233,500,000 after purchasing an additional 199,770 shares during the period. Wellington Management Group LLP raised its position in TG Therapeutics by 1.4% during 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. Finally, Eventide Asset Management LLC purchased a new stake in TG Therapeutics during the fourth quarter valued at approximately $7,506,000. 58.58% of the stock is owned by 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 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.