BofA Securities slashes price target on TG Therapeutics Inc. [TGTX] – find out why.


TG Therapeutics Inc. [NASDAQ: TGTX] price plunged by -11.54 percent to reach at -$0.51. The company report on May 31, 2022 that TG Therapeutics Announces FDA Extension of BLA PDUFA Date for Ublituximab to Treat Patients with RMS.

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New PDUFA goal date of December 28, 2022.

TG Therapeutics, Inc. (NASDAQ: TGTX), today announced that the U.S. Food and Drug Administration (FDA) has extended the Prescription Drug User Fee Act (PDUFA) goal date to December 28, 2022, for the Biologics License Application (BLA) for ublituximab as a treatment for patients with relapsing forms of multiple sclerosis (RMS).

A sum of 7022547 shares traded at recent session while its average daily volume was at 2.62M shares. TG Therapeutics Inc. shares reached a high of $4.58 and dropped to a low of $3.8301 until finishing in the latest session at $3.91.

The one-year TGTX stock forecast points to a potential upside of 77.81. The average equity rating for TGTX stock is currently 2.00, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on TG Therapeutics Inc. [TGTX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TGTX shares is $17.62 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TGTX stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for TG Therapeutics Inc. shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on May 20, 2022. While these analysts kept the previous recommendation, B. Riley Securities dropped their target price from $49 to $35. The new note on the price target was released on February 23, 2022, representing the official price target for TG Therapeutics Inc. stock. Previously, the target price had yet another drop from $33 to $26, while Goldman kept a Sell rating on TGTX stock.

The Average True Range (ATR) for TG Therapeutics Inc. is set at 0.64, with the Price to Sales ratio for TGTX stock in the period of the last 12 months amounting to 69.83. The Price to Book ratio for the last quarter was 3.08, with the Price to Cash per share for the same quarter was set at 1.65.

TGTX Stock Performance Analysis:

TG Therapeutics Inc. [TGTX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -20.20. With this latest performance, TGTX shares dropped by -48.21% in over the last four-week period, additionally sinking by -74.28% over the last 6 months – not to mention a drop of -88.63% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TGTX stock in for the last two-week period is set at 27.07, with the RSI for the last a single of trading hit 21.69, and the three-weeks RSI is set at 30.82 for TG Therapeutics Inc. [TGTX]. The present Moving Average for the last 50 days of trading for this stock 7.64, while it was recorded at 4.71 for the last single week of trading, and 18.05 for the last 200 days.

Insight into TG Therapeutics Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and TG Therapeutics Inc. [TGTX] shares currently have an operating margin of -5154.28 and a Gross Margin at +88.19. TG Therapeutics Inc.’s Net Margin is presently recorded at -5204.08.

Return on Equity for this stock declined to -92.03, with Return on Assets sitting at -69.26.

TG Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.40 and a Current Ratio set at 4.40.

TG Therapeutics Inc. [TGTX] Insider Position Details

There are presently around $455 million, or 71.50% of TGTX stock, in the hands of institutional investors. The top three institutional holders of TGTX stocks are: FMR LLC with ownership of 20,328,841, which is approximately -1.895% of the company’s market cap and around 8.00% of the total institutional ownership; VANGUARD GROUP INC, holding 12,130,963 shares of the stock with an approximate value of $53.62 million in TGTX stocks shares; and STATE STREET CORP, currently with $42.56 million in TGTX stock with ownership of nearly 65.321% of the company’s market capitalization.

Positions in TG Therapeutics Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 106 institutional holders increased their position in TG Therapeutics Inc. [NASDAQ:TGTX] by around 17,561,570 shares. Additionally, 94 investors decreased positions by around 16,130,858 shares, while 29 investors held positions by with 69,247,992 shares. The mentioned changes placed institutional holdings at 102,940,420 shares, according to the latest SEC report filing. TGTX stock had 31 new institutional investments in for a total of 3,548,771 shares, while 45 institutional investors sold positions of 11,077,182 shares during the same period.