TG Therapeutics (NASDAQ:TGTX) Stock Price Expected to Rise, HC Wainwright Analyst Says

TG Therapeutics (NASDAQ:TGTX) had its price objective upped by investment analysts at HC Wainwright from $49.00 to $55.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s target price would indicate a potential upside of 102.43% from the stock’s previous close. HC Wainwright also issued estimates for TG Therapeutics’ Q4 2024 earnings at $0.15 EPS.

A number of other equities research analysts also recently commented on the company. TD Cowen started coverage on TG Therapeutics in a report 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. Finally, 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 research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.67.

TG Therapeutics Stock Performance

Shares of TG Therapeutics stock opened at $27.17 on Tuesday. The company has a 50 day moving average price of $23.57 and a 200 day moving average price of $20.26. The firm has a market capitalization of $4.21 billion, a P/E ratio of -271.70 and a beta of 2.19. The company has a quick ratio of 2.83, a current ratio of 3.58 and a debt-to-equity ratio of 0.58. TG Therapeutics has a 52 week low of $9.81 and a 52 week high of $27.67.

TG Therapeutics (NASDAQ:TGTX) last released its earnings results 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). TG Therapeutics had a net margin of 27.60% and a return on equity of 57.73%. The firm had revenue of $83.90 million during the quarter, compared to analyst estimates of $81.68 million. During the same period in the previous year, the company earned $0.73 earnings per share. TG Therapeutics’s revenue was down 49.4% on a year-over-year basis. Sell-side analysts expect that TG Therapeutics will post 0.13 EPS for the current year.

Hedge Funds Weigh In On TG Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Opaleye Management Inc. increased its stake in shares of TG Therapeutics by 2.9% in the 1st quarter. Opaleye Management Inc. now owns 2,280,000 shares of the biopharmaceutical company’s stock worth $34,679,000 after acquiring an additional 65,000 shares during the last quarter. Marshall Wace LLP acquired a new stake in TG Therapeutics during the second quarter worth about $36,501,000. Hood River Capital Management LLC increased its position in TG Therapeutics by 6.7% during the second quarter. Hood River Capital Management LLC now owns 1,572,929 shares of the biopharmaceutical company’s stock worth $27,982,000 after purchasing an additional 98,892 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in 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 purchasing an additional 725,371 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of TG Therapeutics in the 2nd quarter valued at approximately $10,423,000. Institutional investors and hedge funds 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.