JPMorgan Chase & Co. Forecasts Strong Price Appreciation for TG Therapeutics (NASDAQ:TGTX) Stock

TG Therapeutics (NASDAQ:TGTX) had its target price increased by JPMorgan Chase & Co. from $30.00 to $43.00 in a report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 25.51% from the stock’s previous close.

Other research analysts have also issued reports about the stock. HC Wainwright increased their price objective on shares of TG Therapeutics from $49.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. B. Riley raised their price target on shares of TG Therapeutics from $29.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. TD Cowen assumed coverage on shares of TG Therapeutics in a report on Tuesday, October 29th. They issued a “buy” rating and a $50.00 price target on the stock. Finally, The Goldman Sachs Group raised their price target on shares of TG Therapeutics from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, TG Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $40.67.

TG Therapeutics Trading Down 1.0 %

Shares of TGTX stock opened at $34.26 on Monday. The firm has a market cap of $5.33 billion, a P/E ratio of -342.60 and a beta of 2.19. TG Therapeutics has a 1-year low of $12.30 and a 1-year high of $36.84. 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 firm’s 50-day simple moving average is $25.81 and its 200-day simple moving average is $21.83.

TG Therapeutics (NASDAQ:TGTX) last announced its quarterly earnings data on Monday, November 4th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). The company had revenue of $83.90 million for the quarter, compared to analysts’ expectations of $81.68 million. TG Therapeutics had a negative return on equity of 8.32% and a negative net margin of 5.42%. The company’s revenue was down 49.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.73 earnings per share. As a group, equities analysts forecast that TG Therapeutics will post 0.17 EPS for the current year.

Insider Activity at TG Therapeutics

In other TG Therapeutics news, Director Sagar Lonial sold 5,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $30.44, for a total value of $152,200.00. Following the completion of the sale, the director now owns 100,195 shares of the company’s stock, valued at $3,049,935.80. This trade represents a 4.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 10.50% of the stock is currently owned by insiders.

Institutional Trading of TG Therapeutics

Large investors have recently bought and sold shares of the company. NBC Securities Inc. grew its position in TG Therapeutics by 58.9% in the third quarter. NBC Securities Inc. now owns 1,309 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 485 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in TG Therapeutics in the second quarter valued at approximately $35,000. Blue Trust Inc. grew its position in TG Therapeutics by 127.3% in the third quarter. Blue Trust Inc. now owns 1,516 shares of the biopharmaceutical company’s stock valued at $35,000 after acquiring an additional 849 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in TG Therapeutics in the third quarter valued at approximately $53,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of TG Therapeutics during the first quarter worth approximately $58,000. Institutional investors and hedge funds own 58.58% of the company’s stock.

TG Therapeutics Company Profile

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.