TG Therapeutics (NASDAQ:TGTX) Downgraded by Zacks Investment Research to “Hold”

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Zacks Investment Research lowered shares of TG Therapeutics (NASDAQ:TGTX) from a buy rating to a hold rating in a research note released on Thursday, 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. “

A number of other equities research analysts have also recently weighed in on TGTX. BidaskClub upgraded TG Therapeutics from a buy rating to a strong-buy rating in a research note on Friday, January 10th. HC Wainwright upped their price objective on TG Therapeutics from $20.00 to $24.00 and gave the company a buy rating in a report on Friday, January 17th. Finally, B. Riley initiated coverage on TG Therapeutics in a report on Wednesday, November 27th. They issued a buy rating and a $12.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. TG Therapeutics currently has an average rating of Buy and an average price target of $17.25.

TGTX traded down $0.20 during trading hours on Thursday, reaching $15.62. The company’s stock had a trading volume of 1,788,848 shares, compared to its average volume of 2,019,495. TG Therapeutics has a 52 week low of $4.59 and a 52 week high of $16.22. The company’s 50-day moving average is $14.00 and its 200-day moving average is $8.90. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 2.77.

Hedge funds and other institutional investors have recently modified their holdings of the business. California State Teachers Retirement System grew its holdings in TG Therapeutics by 5.6% in the 3rd quarter. California State Teachers Retirement System now owns 127,801 shares of the biopharmaceutical company’s stock valued at $718,000 after buying an additional 6,751 shares in the last quarter. Millennium Management LLC grew its holdings in shares of TG Therapeutics by 6,258.4% during the 3rd quarter. Millennium Management LLC now owns 7,521,910 shares of the biopharmaceutical company’s stock worth $42,235,000 after purchasing an additional 7,403,611 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of TG Therapeutics during the 3rd quarter worth $69,000. Metropolitan Life Insurance Co NY grew its holdings in shares of TG Therapeutics by 53.5% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 27,289 shares of the biopharmaceutical company’s stock worth $153,000 after purchasing an additional 9,508 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of TG Therapeutics by 2.1% during the 3rd quarter. Rhumbline Advisers now owns 95,679 shares of the biopharmaceutical company’s stock worth $537,000 after purchasing an additional 1,976 shares in the last quarter. 50.00% of the stock is currently owned by hedge funds and other institutional investors.

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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