TG Therapeutics’ (TGTX) “Buy” Rating Reiterated at HC Wainwright

TG Therapeutics (NASDAQ:TGTX)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a research report issued on Wednesday, Benzinga reports. They presently have a $49.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price objective points to a potential upside of 93.83% from the company’s current price.

TGTX has been the topic of a number of other reports. B. Riley boosted their price objective on TG Therapeutics from $29.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group boosted their price objective on TG Therapeutics from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $31.83.

TG Therapeutics Stock Performance

Shares of NASDAQ:TGTX traded up $0.20 during midday trading on Wednesday, reaching $25.28. The company had a trading volume of 1,970,327 shares, compared to its average volume of 3,624,379. The company’s 50 day moving average price is $21.73 and its 200 day moving average price is $18.15. The company has a current ratio of 3.58, a quick ratio of 2.83 and a debt-to-equity ratio of 0.58. The stock has a market cap of $3.91 billion, a P/E ratio of 109.91 and a beta of 2.21. TG Therapeutics has a 52-week low of $6.46 and a 52-week high of $26.41.

TG Therapeutics (NASDAQ:TGTX) last issued its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.08. The company had revenue of $73.47 million for the quarter, compared to the consensus estimate of $65.92 million. TG Therapeutics had a net margin of 27.60% and a return on equity of 57.73%. The firm’s quarterly revenue was up 357.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.34) EPS. As a group, sell-side analysts anticipate that TG Therapeutics will post 0.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP boosted its stake in TG Therapeutics by 9.1% in the second quarter. Quarry LP now owns 6,003 shares of the biopharmaceutical company’s stock worth $107,000 after buying an additional 503 shares in the last quarter. Principal Financial Group Inc. boosted its stake in TG Therapeutics by 3.9% in the first quarter. Principal Financial Group Inc. now owns 35,374 shares of the biopharmaceutical company’s stock worth $538,000 after buying an additional 1,322 shares in the last quarter. Swiss National Bank boosted its stake in TG Therapeutics by 0.5% in the first quarter. Swiss National Bank now owns 284,100 shares of the biopharmaceutical company’s stock worth $4,321,000 after buying an additional 1,500 shares in the last quarter. nVerses Capital LLC boosted its stake in TG Therapeutics by 34.9% in the second quarter. nVerses Capital LLC now owns 5,800 shares of the biopharmaceutical company’s stock worth $103,000 after buying an additional 1,500 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in TG Therapeutics by 3.9% in the second quarter. Arizona State Retirement System now owns 41,069 shares of the biopharmaceutical company’s stock worth $731,000 after buying an additional 1,539 shares in the last quarter. Hedge funds and other institutional investors own 58.58% of the company’s stock.

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.