TG Therapeutics (NASDAQ:TGTX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.
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. “
A number of other equities analysts also recently issued reports on TGTX. BidaskClub raised shares of TG Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, January 30th. ValuEngine raised shares of TG Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. B. Riley reissued a “buy” rating and issued a $21.50 price objective on shares of TG Therapeutics in a report on Wednesday, January 17th. HC Wainwright reissued a “buy” rating and issued a $33.00 price objective on shares of TG Therapeutics in a report on Monday, January 8th. Finally, Raymond James Financial reissued a “buy” rating on shares of TG Therapeutics in a report on Tuesday, December 12th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $25.50.
TG Therapeutics (TGTX) opened at $12.20 on Friday. The stock has a market cap of $861.96, a P/E ratio of -6.32 and a beta of 1.67. TG Therapeutics has a 1-year low of $4.50 and a 1-year high of $15.35.
In other TG Therapeutics news, CFO Sean A. Power sold 32,006 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $8.50, for a total transaction of $272,051.00. Following the sale, the chief financial officer now owns 517,464 shares in the company, valued at approximately $4,398,444. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 16.70% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TGTX. State Street Corp raised its stake in TG Therapeutics by 274.4% during the 2nd quarter. State Street Corp now owns 2,638,683 shares of the biopharmaceutical company’s stock worth $26,515,000 after acquiring an additional 1,933,896 shares during the period. Senzar Asset Management LLC raised its stake in TG Therapeutics by 56.9% during the 4th quarter. Senzar Asset Management LLC now owns 1,355,178 shares of the biopharmaceutical company’s stock worth $11,112,000 after acquiring an additional 491,678 shares during the period. University of Notre Dame DU Lac bought a new stake in TG Therapeutics during the 4th quarter worth approximately $2,483,000. Goldman Sachs Group Inc. raised its stake in TG Therapeutics by 1,335.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 311,793 shares of the biopharmaceutical company’s stock worth $2,557,000 after acquiring an additional 290,066 shares during the period. Finally, Vanguard Group Inc. raised its stake in TG Therapeutics by 14.3% during the 2nd quarter. Vanguard Group Inc. now owns 2,046,427 shares of the biopharmaceutical company’s stock worth $20,566,000 after acquiring an additional 255,844 shares during the period. Institutional investors own 47.44% 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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