TG Therapeutics (NASDAQ:TGTX)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research report issued to clients and investors on Friday. They currently have a $21.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price objective would indicate a potential upside of 325.96% from the stock’s current price.
The analysts wrote, “We use a 4x price/sales multiple for these products, an early stage pipeline value of $2.84/share, and fully diluted net cash of $1.10/share to arrive at our price target. Our P/S multiple of 4x is in-line with TG’s peers that range between 2-5x. We use a 20% discount rate for the pipeline as it is above the marketed products discount rate due to development risks but within the typical range of 15-25% for products in development. We project revenues of $260M and $227M for ublituximab in CLL and NHL, respectively, in 2026. For umbralisib, we project 2026 revenues of $190M and $125M in CLL and NHL, respectively.””
A number of other research firms have also commented on TGTX. Raymond James lowered TG Therapeutics from a “strong-buy” rating to an “outperform” rating and lowered their price target for the company from $22.00 to $12.00 in a research report on Tuesday, September 25th. BidaskClub lowered TG Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Friday, July 20th. ValuEngine raised TG Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, October 24th. LADENBURG THALM/SH SH set a $27.00 price target on TG Therapeutics and gave the company a “buy” rating in a research report on Wednesday, September 26th. Finally, Zacks Investment Research raised TG Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, July 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. TG Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $21.75.
NASDAQ TGTX opened at $4.93 on Friday. TG Therapeutics has a 1-year low of $4.20 and a 1-year high of $17.35. The stock has a market capitalization of $373.51 million, a PE ratio of -2.58 and a beta of 1.34.
TG Therapeutics (NASDAQ:TGTX) last released its earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.59) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.04). TG Therapeutics had a negative net margin of 97,412.51% and a negative return on equity of 177.79%. The company had revenue of $0.04 million during the quarter, compared to the consensus estimate of $0.04 million. On average, analysts expect that TG Therapeutics will post -2.15 earnings per share for the current year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Northern Trust Corp raised its position in TG Therapeutics by 19.3% during the 2nd quarter. Northern Trust Corp now owns 751,725 shares of the biopharmaceutical company’s stock valued at $9,885,000 after purchasing an additional 121,424 shares during the last quarter. Bank of New York Mellon Corp raised its position in TG Therapeutics by 11.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 276,325 shares of the biopharmaceutical company’s stock valued at $3,633,000 after purchasing an additional 29,012 shares during the last quarter. Millennium Management LLC raised its position in TG Therapeutics by 34.8% during the 2nd quarter. Millennium Management LLC now owns 525,552 shares of the biopharmaceutical company’s stock valued at $6,911,000 after purchasing an additional 135,562 shares during the last quarter. MetLife Investment Advisors LLC raised its position in TG Therapeutics by 35.2% during the 2nd quarter. MetLife Investment Advisors LLC now owns 28,284 shares of the biopharmaceutical company’s stock valued at $372,000 after purchasing an additional 7,358 shares during the last quarter. Finally, RA Capital Management LLC grew its holdings in shares of TG Therapeutics by 73.1% during the 2nd quarter. RA Capital Management LLC now owns 4,278,796 shares of the biopharmaceutical company’s stock worth $56,266,000 after acquiring an additional 1,806,452 shares during the period. 48.92% of the stock is owned by institutional investors and hedge funds.
About TG Therapeutics
TG Therapeutics, Inc, a biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel treatments for B-cell malignancies and autoimmune diseases in the United States. It develops TG-1101 (ublituximab), a chimeric, glycoengineered monoclonal antibody that targets an epitope on the CD20 antigen found on the surface of B-lymphocytes developed to aid in the depletion of circulating B-cells; and TG-1101 in combination with TGR-1202 for relapsed/refractory chronic lymphocytic leukemia.
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