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

Posted by Defense World Staff on Aug 27th, 2023

TG Therapeutics (NASDAQ:TGTX – Get Free Report) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Sunday.

Several other equities research analysts have also recently commented on the company. JPMorgan Chase & Co. cut their target price on TG Therapeutics from $34.00 to $22.00 and set an “overweight” rating on the stock in a research note on Monday, August 7th. HC Wainwright boosted their target price on TG Therapeutics from $34.00 to $41.00 and gave the company a “buy” rating in a research note on Tuesday, August 1st. B. Riley restated a “buy” rating and issued a $32.00 target price (down previously from $42.00) on shares of TG Therapeutics in a research note on Tuesday, August 1st. Finally, The Goldman Sachs Group upgraded TG Therapeutics from a “sell” rating to a “neutral” rating and cut their target price for the company from $16.00 to $12.00 in a research note on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $23.14.

View Our Latest Report on TGTX

TG Therapeutics Trading Up 1.2 %

NASDAQ:TGTX opened at $10.48 on Friday. TG Therapeutics has a fifty-two week low of $4.86 and a fifty-two week high of $35.67. The company has a debt-to-equity ratio of 2.42, a current ratio of 2.87 and a quick ratio of 2.45. The stock has a market capitalization of $1.58 billion, a PE ratio of -8.25 and a beta of 2.02. The business’s 50-day simple moving average is $18.05 and its 200-day simple moving average is $20.61.

TG Therapeutics (NASDAQ:TGTX – Get Free Report) last released its quarterly earnings data on Tuesday, August 1st. The biopharmaceutical company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.08). TG Therapeutics had a negative net margin of 730.34% and a negative return on equity of 309.58%. The business had revenue of $16.07 million for the quarter, compared to the consensus estimate of $17.39 million. During the same quarter last year, the firm earned ($0.30) EPS. The company’s revenue for the quarter was up 2606.1% on a year-over-year basis. Sell-side analysts expect that TG Therapeutics will post -0.72 earnings per share for the current fiscal year.

Insider Transactions at TG Therapeutics

In other news, Director Sagar Lonial sold 34,854 shares of the company’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $23.37, for a total transaction of $814,537.98. Following the sale, the director now owns 93,878 shares in the company, valued at approximately $2,193,928.86. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Sean A. Power sold 73,647 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $26.70, for a total transaction of $1,966,374.90. Following the transaction, the chief financial officer now directly owns 654,836 shares of the company’s stock, valued at approximately $17,484,121.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sagar Lonial sold 34,854 shares of the business’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $23.37, for a total value of $814,537.98. Following the transaction, the director now directly owns 93,878 shares in the company, valued at $2,193,928.86. The disclosure for this sale can be found here. Company insiders own 9.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TGTX. Belpointe Asset Management LLC acquired a new position in shares of TG Therapeutics during the 4th quarter worth approximately $25,000. Ameritas Advisory Services LLC acquired a new position in TG Therapeutics in the 1st quarter valued at $25,000. RFP Financial Group LLC acquired a new position in TG Therapeutics in the 2nd quarter valued at $25,000. Macquarie Group Ltd. grew its holdings in TG Therapeutics by 102.3% in the 2nd quarter. Macquarie Group Ltd. now owns 10,190 shares of the biopharmaceutical company’s stock valued at $43,000 after buying an additional 5,152 shares in the last quarter. Finally, Coppell Advisory Solutions LLC acquired a new position in TG Therapeutics in the 2nd quarter valued at $46,000. 62.66% of the stock is owned by institutional investors and hedge funds.

TG Therapeutics Company Profile

(Get Free Report)

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.