TG Therapeutics (TGTX) Receives Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of TG Therapeutics (NASDAQ:TGTX) in a research report sent to investors on Monday morning. HC Wainwright currently has a $33.00 price objective on the biopharmaceutical company’s stock.

“TG Announces Global License Agreement With Jiangsu Hengrui Medicine for Development of Novel BTK Inhibitors TG licenses novel BTK inhibitors that demonstrate superior selectivity to BTK in comparison to ibrutinib in the preclinical setting. On the morning of January 8, TG Therapeutics announced that it has entered into an exclusive global license agreement with Jiangsu Hengrui Medicine, pursuant to which TG will obtain worldwide rights, excluding Asia but including Japan, for the development of Hengrui’s BTK inhibitor program. The program includes TG-1701 and TG-1702, both of which are orally-available, covalently-bound BTK inhibitors.”,” HC Wainwright’s analyst wrote.

TGTX has been the subject of a number of other reports. Raymond James Financial reissued a buy rating on shares of TG Therapeutics in a research report on Tuesday, December 12th. B. Riley started coverage on TG Therapeutics in a research report on Friday, December 1st. They issued a buy rating and a $21.50 target price for the company. SunTrust Banks reaffirmed a buy rating and issued a $28.00 target price on shares of TG Therapeutics in a research report on Tuesday, October 3rd. Finally, ValuEngine downgraded TG Therapeutics from a hold rating to a sell rating in a research report on Monday, October 16th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. TG Therapeutics currently has a consensus rating of Buy and an average price target of $25.50.

Shares of TG Therapeutics (NASDAQ TGTX) traded up $1.45 on Monday, hitting $10.65. The company’s stock had a trading volume of 3,381,000 shares, compared to its average volume of 1,710,113. TG Therapeutics has a twelve month low of $4.10 and a twelve month high of $15.35. The firm has a market cap of $701.22, a P/E ratio of -5.52 and a beta of 1.30.

TG Therapeutics (NASDAQ:TGTX) last issued its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.05). The business had revenue of $0.04 million for the quarter, compared to analyst estimates of $0.04 million. TG Therapeutics had a negative return on equity of 151.21% and a negative net margin of 73,217.77%. equities analysts predict that TG Therapeutics will post -1.87 earnings per share for the current fiscal year.

In other news, CFO Sean A. Power sold 32,006 shares of TG Therapeutics stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $8.50, for a total value of $272,051.00. Following the completion of the transaction, the chief financial officer now owns 517,464 shares in the company, valued at approximately $4,398,444. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 16.70% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in TGTX. Legal & General Group Plc boosted its stake in shares of TG Therapeutics by 14.9% in the 2nd quarter. Legal & General Group Plc now owns 11,264 shares of the biopharmaceutical company’s stock valued at $114,000 after buying an additional 1,463 shares during the period. Voya Investment Management LLC boosted its stake in shares of TG Therapeutics by 40.2% in the 2nd quarter. Voya Investment Management LLC now owns 22,521 shares of the biopharmaceutical company’s stock valued at $226,000 after buying an additional 6,463 shares during the period. Nationwide Fund Advisors boosted its stake in shares of TG Therapeutics by 24.2% in the 2nd quarter. Nationwide Fund Advisors now owns 26,531 shares of the biopharmaceutical company’s stock valued at $267,000 after buying an additional 5,167 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of TG Therapeutics by 26.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 36,754 shares of the biopharmaceutical company’s stock valued at $370,000 after buying an additional 7,630 shares during the period. Finally, State of Wisconsin Investment Board purchased a new position in shares of TG Therapeutics in the 2nd quarter valued at about $412,000. Institutional investors and hedge funds own 50.41% of the company’s stock.

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TG Therapeutics Company Profile

TG Therapeutics, Inc (TG) is a biopharmaceutical company focused on the acquisition, development and commercialization of treatments for B-cell malignancies and autoimmune diseases. As of December 31, 2016, the Company was developing two therapies targeting hematological malignancies. TG-1101 (ublituximab) is a glycoengineered monoclonal antibody that targets a specific epitope on the cluster of differentiation (CD20) antigen found on mature B-lymphocytes.

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