TG Therapeutics TGTX Upgraded to 'Buy' by StockNews.com Amid Positive Analyst Sentiment

TG Therapeutics, Inc. TGTX, a New York-based biopharmaceutical company, has received a favorable stock rating upgrade from 'hold' to 'buy', according to a recent analysis by StockNews.com. The upgrade reflects growing confidence among analysts regarding the company's stock performance. TG Therapeutics is known for its focus on developing treatments for B-cell malignancies and autoimmune diseases.

Analysts Show Continued Support for TGTX

In addition to the upgrade by StockNews.com, TG Therapeutics has been under the scrutiny of several other research reports. Jefferies Financial Group reasserted a 'buy' rating with a $23.00 price target, highlighting investor optimism. Likewise, JPMorgan Chase & Co. recognized the company's potential by increasing its target price from $22.00 to $23.00 and maintaining an 'overweight' rating.

Despite some downward revisions, B. Riley continued to advocate for TGTX with a 'buy' rating, albeit lowering their price target from $32.00 to $24.00. In a similar vein, The Goldman Sachs Group altered its stance, upgrading TG Therapeutics from a 'sell' to a 'neutral' rating and adjusting the target price to $12.00. Further solidifying confidence, HC Wainwright reiterated a 'buy' rating and set a lofty $41.00 price target. Overall, the company has acquired a 'Moderate Buy' consensus rating from the analysts, along with an aggregated target price of $22.25.

Financial Highlights and Institutional Interest in TGTX

On the financial front, TGTX reported a notable $0.73 earnings per share for the quarter, significantly exceeding the $0.29 consensus estimate. Revenue also impressed, with the company pulling in $165.80 million for the quarter, far surpassing the expected $23.91 million. Despite a negative net margin of 13.65% and a negative return on equity of 35.58%, the revenue spurt represents a staggering 17538.3% increase over the previous year's same quarter.

From an investment standpoint, institutional investors and hedge funds have retained a strong interest in TGTX, with ownership making up 57.92% of the company’s stock. This is evidenced by recent activities, including Ameritas Advisory Services LLC and RFP Financial Group LLC's new positions in TGTX, and Macquarie Group Ltd.'s 102.3% increase in holdings.

TG Therapeutics: A Brief Company Profile

TG Therapeutics is at the forefront of commercial stage biopharmaceutical developments, channeling its efforts into the acquisition and development of cutting-edge treatments. A crucial part of their product lineup is BRIUMVI, an anti-CD20 monoclonal antibody designed to treat adult patients with various forms of multiple sclerosis (RMS).

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