TG Therapeutics (NASDAQ:TGTX) Raised to Hold at Zacks Investment Research

TG Therapeutics (NASDAQ:TGTX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday, Zacks.com reports.

According to Zacks, “TG Therapeutics, Inc. is a biopharmaceutical company focused on the acquisition, development and commercialization of pharmaceutical products for the treatment of cancer and other underserved therapeutic needs. The Company is focused on the development of a monoclonal antibody for the treatment of various B-cell proliferative disorders including lymphoma, leukemia, and auto-immune diseases. TG Therapeutics, Inc., formerly known as Manhattan Pharmaceuticals, Inc., is based in New York. “

TGTX has been the topic of a number of other research reports. ValuEngine upgraded shares of TG Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Cantor Fitzgerald restated a “buy” rating and issued a $17.00 target price on shares of TG Therapeutics in a research note on Monday, May 13th. BidaskClub upgraded shares of TG Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, B. Riley restated a “buy” rating on shares of TG Therapeutics in a research note on Tuesday, June 11th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. TG Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $14.07.

TGTX stock traded down $0.22 during trading on Thursday, reaching $6.69. The stock had a trading volume of 32,883 shares, compared to its average volume of 1,021,411. TG Therapeutics has a 1-year low of $3.32 and a 1-year high of $12.90. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.72 and a quick ratio of 1.72. The company has a fifty day moving average of $7.72.

TG Therapeutics (NASDAQ:TGTX) last issued its quarterly earnings data on Friday, August 9th. The biopharmaceutical company reported ($0.42) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.01. TG Therapeutics had a negative net margin of 94,751.79% and a negative return on equity of 415.54%. The firm had revenue of $0.04 million for the quarter, compared to analyst estimates of $0.04 million. On average, sell-side analysts anticipate that TG Therapeutics will post -1.53 EPS for the current year.

In related news, CFO Sean A. Power sold 17,654 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $8.47, for a total transaction of $149,529.38. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael S. Weiss acquired 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The shares were acquired at an average price of $7.04 per share, for a total transaction of $352,000.00. The disclosure for this purchase can be found here. 14.20% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TGTX. BlackRock Inc. lifted its stake in TG Therapeutics by 19.5% during the second quarter. BlackRock Inc. now owns 5,304,463 shares of the biopharmaceutical company’s stock valued at $45,883,000 after purchasing an additional 866,572 shares during the last quarter. Vanguard Group Inc. lifted its stake in TG Therapeutics by 19.7% during the second quarter. Vanguard Group Inc. now owns 4,041,122 shares of the biopharmaceutical company’s stock valued at $34,955,000 after purchasing an additional 665,380 shares during the last quarter. Sofinnova Investments Inc. lifted its stake in TG Therapeutics by 258.5% during the second quarter. Sofinnova Investments Inc. now owns 1,261,384 shares of the biopharmaceutical company’s stock valued at $10,911,000 after purchasing an additional 909,573 shares during the last quarter. Camber Capital Management LP acquired a new stake in TG Therapeutics during the second quarter valued at approximately $8,650,000. Finally, Artal Group S.A. lifted its stake in TG Therapeutics by 12.5% during the second quarter. Artal Group S.A. now owns 900,000 shares of the biopharmaceutical company’s stock valued at $7,785,000 after purchasing an additional 100,000 shares during the last quarter. Hedge funds and other institutional investors own 54.48% of the company’s stock.

About TG Therapeutics

TG Therapeutics, Inc, a biopharmaceutical company, engages in developing and delivering medicines for patients with chronic lymphocytic leukemia (CLL), non-Hodgkin's Lymphoma (NHL), and Multiple Sclerosis (MS). It develops a robust B-cell directed research and development platform for identification of key B-cell pathways of interest and rapid clinical testing.

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