BofA Securities lifts TG Therapeutics Inc. [TGTX] price estimate. Who else is bullish?


TG Therapeutics Inc. [NASDAQ: TGTX] jumped around 0.45 points on Wednesday, while shares priced at $6.08 at the close of the session, up 7.99%. The company report on June 27, 2022 that TG Therapeutics Announces Presentation of Exploratory Analyses from the ULTIMATE I & II Phase 3 Trials of Ublituximab in Multiple Sclerosis at the 8Th Congress of the European Academy of Neurology.

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TG Therapeutics, Inc. (NASDAQ: TGTX), today announced data presentations highlighting data from pooled and post hoc analyses of the ULTIMATE I & II Phase 3 trials evaluating ublituximab in patients with relapsing forms of multiple sclerosis (RMS), presented at the 8th Congress of the European Academy of Neurology (EAN). Links to the presentations are included below.

Michael S. Weiss, Chairman and Chief Executive Officer of TG Therapeutics stated, “We are encouraged by the findings from these additional exploratory analyses of the ULTIMATE I & II Phase 3 trials, which reinforces our belief in the potential of ublituximab in the treatment of relapsing forms of multiple sclerosis. As a company, our primary focus remains on obtaining FDA approval of ublituximab by December 28, 2022, the PDUFA goal data.”ePoster Presentation: Ublituximab Efficacy Outcomes in Relapsing Multiple Sclerosis Patient Subgroups in the ULTIMATE I and II Studies.

TG Therapeutics Inc. stock is now -68.00% down from its year-to-date (YTD) trading value. TGTX Stock saw the intraday high of $6.18 and lowest of $5.43 per share. The company’s 52-week high price is 39.31, which means current price is +74.71% above from all time high which was touched on 01/03/22.

Compared to the average trading volume of 3.42M shares, TGTX reached a trading volume of 2705996 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 $16.88 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 0.50, with the Price to Sales ratio for TGTX stock in the period of the last 12 months amounting to 109.19. The Price to Book ratio for the last quarter was 4.79, with the Price to Cash per share for the same quarter was set at 1.64.

How has TGTX stock performed recently?

TG Therapeutics Inc. [TGTX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 14.93. With this latest performance, TGTX shares gained by 32.46% in over the last four-week period, additionally sinking by -64.98% over the last 6 months – not to mention a drop of -84.29% 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 63.53, with the RSI for the last a single of trading hit 71.27, and the three-weeks RSI is set at 57.01 for TG Therapeutics Inc. [TGTX]. The present Moving Average for the last 50 days of trading for this stock 5.24, while it was recorded at 5.61 for the last single week of trading, and 14.72 for the last 200 days.

TG Therapeutics Inc. [TGTX]: Deeper insight into the 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.

Insider trade positions for TG Therapeutics Inc. [TGTX]

There are presently around $570 million, or 71.10% 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 8.10% of the total institutional ownership; VANGUARD GROUP INC, holding 12,130,963 shares of the stock with an approximate value of $68.3 million in TGTX stocks shares; and STATE STREET CORP, currently with $54.21 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 August and at the time of the August reporting period, where 104 institutional holders increased their position in TG Therapeutics Inc. [NASDAQ:TGTX] by around 16,856,496 shares. Additionally, 96 investors decreased positions by around 16,122,406 shares, while 27 investors held positions by with 68,211,484 shares. The mentioned changes placed institutional holdings at 101,190,386 shares, according to the latest SEC report filing. TGTX stock had 30 new institutional investments in for a total of 3,523,910 shares, while 47 institutional investors sold positions of 11,067,209 shares during the same period.