TG Therapeutics (TGTX) Downgraded by ValuEngine

ValuEngine cut shares of TG Therapeutics (NASDAQ:TGTX) from a hold rating to a sell rating in a research report released on Wednesday morning.

Several other research analysts also recently issued reports on TGTX. BidaskClub downgraded TG Therapeutics from a hold rating to a sell rating in a research report on Tuesday, June 12th. Zacks Investment Research upgraded TG Therapeutics from a sell rating to a hold rating in a research report on Thursday, July 26th. HC Wainwright restated a buy rating and set a $38.00 price objective on shares of TG Therapeutics in a research report on Tuesday, August 7th. Finally, Raymond James downgraded TG Therapeutics from a strong-buy rating to an outperform rating and cut their price objective for the stock from $22.00 to $12.00 in a research report on Tuesday. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of Hold and an average price target of $26.40.

Shares of TG Therapeutics stock opened at $5.25 on Wednesday. TG Therapeutics has a 1 year low of $4.95 and a 1 year high of $17.35. The company has a market cap of $426.52 million, a P/E ratio of -2.75 and a beta of 1.16.

TG Therapeutics (NASDAQ:TGTX) last issued its quarterly earnings data on Tuesday, August 7th. The biopharmaceutical company reported ($0.59) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.55) by ($0.04). TG Therapeutics had a negative return on equity of 177.79% and a negative net margin of 97,412.51%. The company had revenue of $0.04 million for the quarter, compared to analyst estimates of $0.04 million. analysts predict that TG Therapeutics will post -2.19 earnings per share for the current fiscal year.

In other TG Therapeutics news, CFO Sean A. Power sold 47,191 shares of the business’s stock in a transaction on Tuesday, July 3rd. The stock was sold at an average price of $13.21, for a total value of $623,393.11. Following the completion of the transaction, the chief financial officer now directly owns 473,267 shares in the company, valued at approximately $6,251,857.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 15.10% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of TGTX. Xact Kapitalforvaltning AB acquired a new position in TG Therapeutics in the 2nd quarter valued at $139,000. Quantitative Systematic Strategies LLC acquired a new position in TG Therapeutics in the 2nd quarter valued at $146,000. Cubist Systematic Strategies LLC acquired a new position in TG Therapeutics in the 1st quarter valued at $176,000. Birchview Capital LP acquired a new position in TG Therapeutics in the 2nd quarter valued at $197,000. Finally, North Star Investment Management Corp. acquired a new stake in shares of TG Therapeutics during the 2nd quarter worth $276,000. Institutional investors own 48.99% of the company’s stock.

About TG Therapeutics

TG Therapeutics, Inc, a biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel treatments for B-cell malignancies and autoimmune diseases in the United States. It develops TG-1101 (ublituximab), a chimeric, glycoengineered monoclonal antibody that targets an epitope on the CD20 antigen found on the surface of B-lymphocytes developed to aid in the depletion of circulating B-cells; and TG-1101 in combination with TGR-1202 for relapsed/refractory chronic lymphocytic leukemia.

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