I must of missed this one:
HC Wainwright restated their buy rating on shares of TG Therapeutics (NASDAQ:TGTX) in a research note released on Tuesday, January 22nd.
“Our $20 price target is based on the net present value of our revenue forecast through 2026, applying a 45% probability of success (POS) for ublituximab in CLL, a 45% POS for umbralisib in 25% POS for both ublituximab and umbralisib in NHL. We use a 4x price/sales multiple for these products, an early stage pipeline value of $2.84/share, and fully diluted net cash of $0.75/share to arrive at our price target. Our P/S multiple of 4x is in-line with TG’s peers that range between 2-5x.”,” the firm’s analyst wrote.
In related news, CFO Sean A. Power sold 37,275 shares of the company’s stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $4.13, for a total value of $153,945.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 15.10% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Forbes J M & Co. LLP bought a new position in shares of TG Therapeutics during the fourth quarter valued at about $44,000. Nisa Investment Advisors LLC grew its stake in shares of TG Therapeutics by 1,891.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 18,425 shares of the biopharmaceutical company’s stock valued at $76,000 after buying an additional 17,500 shares during the last quarter. Claraphi Advisory Network LLC purchased a new stake in shares of TG Therapeutics during the third quarter worth about $123,000. MetLife Investment Advisors LLC boosted its holdings in shares of TG Therapeutics by 35.2% during the second quarter. MetLife Investment Advisors LLC now owns 28,284 shares of the biopharmaceutical company’s stock worth $372,000 after purchasing an additional 7,358 shares during the period. Finally, Belpointe Asset Management LLC purchased a new stake in shares of TG Therapeutics during the third quarter worth about $243,000. Institutional investors own 57.38% of the company’s stock.
