TG Therapeutics (NASDAQ:TGTX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday, Zacks.com reports.
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. “
TGTX has been the subject of several other reports. HC Wainwright set a $5.00 target price on SuperCom and gave the stock a “buy” rating in a research report on Friday, April 12th. ValuEngine upgraded Vanda Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, March 29th. B. Riley restated a “buy” rating on shares of TG Therapeutics in a research report on Tuesday, June 11th. Cantor Fitzgerald started coverage on CytomX Therapeutics in a research report on Monday, May 13th. They set an “overweight” rating and a $21.00 target price for the company. Finally, BidaskClub upgraded Winmark from a “sell” rating to a “hold” rating in a research report on Tuesday, May 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $14.07.
TG Therapeutics stock opened at $7.80 on Tuesday. TG Therapeutics has a 1 year low of $3.32 and a 1 year high of $12.90. The stock’s 50-day moving average is $7.60. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.72 and a quick ratio of 1.72.
TG Therapeutics (NASDAQ:TGTX) last posted its earnings results on Friday, May 10th. The biopharmaceutical company reported ($0.43) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.44) by $0.01. The company had revenue of $0.04 million during the quarter, compared to analyst estimates of $0.04 million. TG Therapeutics had a negative return on equity of 309.17% and a negative net margin of 99,471.43%. Equities analysts forecast that TG Therapeutics will post -1.58 EPS for the current year.
In other news, CFO Sean A. Power sold 17,654 shares of TG Therapeutics stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $8.47, for a total transaction of $149,529.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Michael S. Weiss acquired 50,000 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were acquired at an average price of $7.04 per share, for a total transaction of $352,000.00. The disclosure for this purchase can be found here. Insiders own 14.20% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. LPL Financial LLC bought a new position in shares of TG Therapeutics during the 4th quarter valued at about $49,000. NumerixS Investment Technologies Inc bought a new position in shares of TG Therapeutics during the 4th quarter valued at about $50,000. Stifel Financial Corp bought a new position in shares of TG Therapeutics during the 4th quarter valued at about $59,000. Metropolitan Life Insurance Co. NY lifted its holdings in shares of TG Therapeutics by 356.7% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 19,974 shares of the biopharmaceutical company’s stock valued at $82,000 after purchasing an additional 15,600 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of TG Therapeutics by 239.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 13,117 shares of the biopharmaceutical company’s stock valued at $105,000 after purchasing an additional 9,255 shares in the last quarter. Institutional investors and hedge funds own 54.59% of the company’s stock.
About TG Therapeutics
TG Therapeutics, Inc, a biopharmaceutical company, engages in developing and delivering medicines for patients with chronic lymphocytic leukemia (CLL), non-Hodgkin's Lymphoma (NHL), and Multiple Sclerosis (MS). It develops a robust B-cell directed research and development platform for identification of key B-cell pathways of interest and rapid clinical testing.
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