TG Therapeutics (NASDAQ:TGTX) Downgraded by StockNews.com to Sell

StockNews.com downgraded shares of TG Therapeutics (NASDAQ:TGTX) from a hold rating to a sell rating in a research note published on Friday morning.

A number of other research analysts have also recently weighed in on TGTX. HC Wainwright reiterated a “buy” rating and set a $55.00 price objective on shares of TG Therapeutics in a research report on Wednesday, January 15th. TD Cowen began coverage on shares of TG Therapeutics in a research report on Tuesday, October 29th. They issued a “buy” rating and a $50.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on shares of TG Therapeutics from $30.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Finally, The Goldman Sachs Group upped their target price on TG Therapeutics from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $40.67.

TG Therapeutics Price Performance

TG Therapeutics stock opened at $31.70 on Friday. TG Therapeutics has a 52-week low of $12.84 and a 52-week high of $36.84. The company has a market cap of $4.93 billion, a price-to-earnings ratio of -316.97 and a beta of 2.24. The firm’s fifty day moving average is $31.63 and its 200 day moving average is $26.53. The company has a quick ratio of 3.91, a current ratio of 4.59 and a debt-to-equity ratio of 1.27.

TG Therapeutics (NASDAQ:TGTX) last issued 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 the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.73 earnings per share. Sell-side analysts forecast that TG Therapeutics will post 0.08 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Sagar Lonial sold 5,000 shares of the company’s stock in a transaction dated 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 directly owns 100,195 shares of the company’s stock, valued at $3,049,935.80. This represents a 4.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sean A. Power sold 10,021 shares of TG Therapeutics stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $28.53, for a total transaction of $285,899.13. Following the transaction, the chief financial officer now directly owns 660,611 shares in the company, valued at approximately $18,847,231.83. The trade was a 1.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,358 shares of company stock worth $781,497 in the last three months. Corporate insiders own 10.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp lifted its position in shares of TG Therapeutics by 35.8% during the third quarter. State Street Corp now owns 9,094,158 shares of the biopharmaceutical company’s stock valued at $212,712,000 after buying an additional 2,398,015 shares during the last quarter. Principal Financial Group Inc. raised its stake 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 worth $18,061,000 after acquiring an additional 725,371 shares during the last quarter. Braun Stacey Associates Inc. purchased a new position in shares of TG Therapeutics in the fourth quarter worth about $13,328,000. Castellan Group acquired a new position in TG Therapeutics in the 4th quarter worth approximately $8,539,000. Finally, Public Sector Pension Investment Board purchased a new position in TG Therapeutics during the 3rd quarter worth approximately $6,619,000. 58.58% of the stock is currently owned by hedge funds and other institutional investors.

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.