TG Therapeutics (NASDAQ:TGTX) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

TG Therapeutics (NASDAQ:TGTX) had its target price boosted by JPMorgan Chase & Co. from $30.00 to $43.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 25.51% from the company’s current price.

Several other equities analysts have also recently issued reports on TGTX. TD Cowen began coverage on shares of TG Therapeutics in a research note on Tuesday, October 29th. They issued a “buy” rating and a $50.00 price objective on the stock. The Goldman Sachs Group boosted their price objective on shares of TG Therapeutics from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. HC Wainwright boosted their price objective on shares of TG Therapeutics from $49.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, B. Riley upped their price target on shares of TG Therapeutics from $29.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.67.

TG Therapeutics Stock Down 1.0 %

TGTX stock opened at $34.26 on Monday. The company has a debt-to-equity ratio of 1.27, a current ratio of 4.59 and a quick ratio of 3.91. The company has a market cap of $5.33 billion, a price-to-earnings ratio of -342.60 and a beta of 2.19. The company has a fifty day moving average price of $25.81 and a 200 day moving average price of $21.83. TG Therapeutics has a 12 month low of $12.30 and a 12 month high of $36.84.

TG Therapeutics (NASDAQ:TGTX) last announced its quarterly earnings data on Monday, November 4th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). The firm had revenue of $83.90 million during the quarter, compared to analyst estimates of $81.68 million. TG Therapeutics had a negative net margin of 5.42% and a negative return on equity of 8.32%. The business’s quarterly revenue was down 49.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.73 earnings per share. Sell-side analysts expect that TG Therapeutics will post 0.17 earnings per share for the current year.

Insider Activity at TG Therapeutics

In related news, Director Sagar Lonial sold 5,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $30.44, for a total value of $152,200.00. Following the sale, the director now directly owns 100,195 shares of the company’s stock, valued at approximately $3,049,935.80. This represents a 4.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 10.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TG Therapeutics

A number of large investors have recently added to or reduced their stakes in TGTX. State Street Corp lifted its holdings in TG Therapeutics by 35.8% in the 3rd quarter. State Street Corp now owns 9,094,158 shares of the biopharmaceutical company’s stock valued at $212,712,000 after purchasing an additional 2,398,015 shares in the last quarter. Marshall Wace LLP purchased a new position in TG Therapeutics in the 2nd quarter valued at about $36,501,000. Principal Financial Group Inc. lifted its holdings in TG Therapeutics by 1,549.4% in the 3rd quarter. Principal Financial Group Inc. now owns 772,188 shares of the biopharmaceutical company’s stock valued at $18,061,000 after purchasing an additional 725,371 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in TG Therapeutics in the 2nd quarter valued at about $10,423,000. Finally, Assenagon Asset Management S.A. purchased a new position in TG Therapeutics in the 2nd quarter valued at about $8,698,000. 58.58% of the stock is owned by institutional investors and hedge funds.

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.