TG Therapeutics Inc (TGTX) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of TG Therapeutics Inc (NASDAQ:TGTX) from a sell rating to a hold rating in a research report report published on Wednesday.

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 analysts have also recently commented on TGTX. Roth Capital set a $33.00 price target on TG Therapeutics and gave the stock a buy rating in a research report on Wednesday, December 7th. FBR & Co set a $24.00 price target on TG Therapeutics and gave the stock a buy rating in a research report on Tuesday, December 6th. Aegis started coverage on TG Therapeutics in a research report on Wednesday, February 22nd. They issued a buy rating and a $26.00 price target for the company. Langenberg & Company upped their price target on TG Therapeutics from $28.00 to $30.00 and gave the stock a positive rating in a research report on Tuesday, March 7th. Finally, HC Wainwright restated a buy rating and issued a $18.00 price target on shares of TG Therapeutics in a research report on Tuesday, March 7th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $23.19.

Analyst Recommendations for TG Therapeutics (NASDAQ:TGTX)

Shares of TG Therapeutics (NASDAQ:TGTX) opened at 13.25 on Wednesday. The company has a 50-day moving average price of $7.10 and a 200-day moving average price of $6.26. TG Therapeutics has a 52-week low of $4.10 and a 52-week high of $15.05. The company’s market cap is $725.19 million.

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In related news, CFO Sean A. Power sold 8,816 shares of the stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $4.55, for a total transaction of $40,112.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 19.00% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Guggenheim Capital LLC boosted its stake in TG Therapeutics by 67.6% in the fourth quarter. Guggenheim Capital LLC now owns 267,985 shares of the biopharmaceutical company’s stock valued at $1,246,000 after buying an additional 108,106 shares in the last quarter. Ellington Management Group LLC acquired a new stake in TG Therapeutics during the fourth quarter valued at about $137,000. A.R.T. Advisors LLC acquired a new stake in TG Therapeutics during the fourth quarter valued at about $252,000. Frontier Wealth Management LLC boosted its stake in TG Therapeutics by 42.9% in the fourth quarter. Frontier Wealth Management LLC now owns 50,000 shares of the biopharmaceutical company’s stock valued at $233,000 after buying an additional 15,000 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in TG Therapeutics during the fourth quarter valued at about $143,000. Hedge funds and other institutional investors own 50.08% of the company’s stock.

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. The Company is developing over two therapies targeting hematological malignancies. TG-1101 (ublituximab) is a glycoengineered monoclonal antibody that targets a specific epitope on the CD20 antigen found on mature B-lymphocytes.

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