StockNews.com Downgrades TG Therapeutics (NASDAQ:TGTX) to Sell

TG Therapeutics (NASDAQ:TGTX) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

A number of other brokerages have also weighed in on TGTX. TD Cowen assumed coverage on shares of TG Therapeutics in a research note on Tuesday, October 29th. They set a “buy” rating and a $50.00 target price for the company. The Goldman Sachs Group boosted their target price 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 target price 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, JPMorgan Chase & Co. boosted their target price on shares of TG Therapeutics from $30.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $40.67.

TG Therapeutics Stock Performance

TGTX stock opened at $33.93 on Friday. The stock has a market capitalization of $5.28 billion, a PE ratio of -339.27 and a beta of 2.25. TG Therapeutics has a 12-month low of $12.84 and a 12-month high of $36.84. The company has a current ratio of 4.59, a quick ratio of 3.91 and a debt-to-equity ratio of 1.27. The stock’s 50 day simple moving average is $27.64 and its 200 day simple moving average is $22.88.

TG Therapeutics (NASDAQ:TGTX) last released 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 business had revenue of $83.90 million during the quarter, compared to the consensus estimate 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 revenue was down 49.4% compared to the same quarter last year. During the same period last year, the company posted $0.73 earnings per share. As a group, research analysts forecast that TG Therapeutics will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other TG Therapeutics 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 transaction of $152,200.00. Following the completion of the transaction, the director now owns 100,195 shares of the company’s stock, valued at $3,049,935.80. This represents a 4.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 10.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp boosted its holdings in shares of TG Therapeutics by 35.8% during 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 during the last quarter. Marshall Wace LLP bought a new position in shares of TG Therapeutics in the 2nd quarter valued at about $36,501,000. Hood River Capital Management LLC lifted its holdings in shares of TG Therapeutics by 6.7% in the 2nd quarter. Hood River Capital Management LLC now owns 1,572,929 shares of the biopharmaceutical company’s stock valued at $27,982,000 after acquiring an additional 98,892 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of TG Therapeutics by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,184,609 shares of the biopharmaceutical company’s stock valued at $27,708,000 after acquiring an additional 7,939 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of 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 acquiring an additional 725,371 shares during the last quarter. 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.