TG Therapeutics (NASDAQ:TGTX) Shares Gap Up – Here’s What Happened

TG Therapeutics, Inc. (NASDAQ:TGTX)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $27.67, but opened at $29.55. TG Therapeutics shares last traded at $28.99, with a volume of 1,568,539 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on TGTX shares. The Goldman Sachs Group boosted their target price on shares of TG Therapeutics from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their price objective on TG Therapeutics from $30.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. TD Cowen assumed coverage on TG Therapeutics in a report on Tuesday, October 29th. They set a “buy” rating and a $50.00 price target for the company. StockNews.com raised TG Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, HC Wainwright upped their target price on shares of TG Therapeutics from $49.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $40.67.

TG Therapeutics Stock Up 6.6 %

The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of -294.97 and a beta of 2.24. The business’s fifty day moving average price is $31.55 and its 200 day moving average price is $25.52. The company has a current ratio of 4.59, a quick ratio of 3.91 and a debt-to-equity ratio of 1.27.

TG Therapeutics (NASDAQ:TGTX) last posted its quarterly earnings data on Monday, November 4th. The biopharmaceutical company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). TG Therapeutics had a negative net margin of 5.42% and a negative return on equity of 8.32%. The company had revenue of $83.90 million for the quarter, compared to analysts’ expectations of $81.68 million. During the same period in the prior year, the company earned $0.73 earnings per share. The firm’s revenue was down 49.4% on a year-over-year basis. On average, equities analysts expect that TG Therapeutics, Inc. will post 0.17 EPS for the current year.

Insider Activity at TG Therapeutics

In related news, CFO Sean A. Power sold 10,021 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $28.53, for a total transaction of $285,899.13. Following the transaction, the chief financial officer now owns 660,611 shares of the company’s stock, valued at $18,847,231.83. This represents a 1.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Sagar Lonial sold 5,000 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $30.44, for a total value of $152,200.00. Following the completion of the sale, the director now directly owns 100,195 shares of the company’s stock, valued at approximately $3,049,935.80. This trade represents a 4.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,358 shares of company stock worth $781,497 in the last three months. Insiders own 10.50% of the company’s stock.

Institutional Trading of TG Therapeutics

A number of hedge funds have recently bought and sold shares of the company. State Street Corp boosted its holdings in shares of TG Therapeutics by 35.8% during the third quarter. State Street Corp now owns 9,094,158 shares of the biopharmaceutical company’s stock worth $212,712,000 after purchasing an additional 2,398,015 shares during the last quarter. Marshall Wace LLP purchased a new stake in TG Therapeutics in the 2nd quarter valued at about $36,501,000. Principal Financial Group Inc. increased its stake in shares of TG Therapeutics by 1,549.4% during the 3rd quarter. Principal Financial Group Inc. now owns 772,188 shares of the biopharmaceutical company’s stock valued at $18,061,000 after acquiring an additional 725,371 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of TG Therapeutics in the 2nd quarter valued at $10,423,000. Finally, Public Sector Pension Investment Board acquired a new position in shares of TG Therapeutics in the 3rd quarter valued at about $6,619,000. Institutional investors and hedge funds own 58.58% of the company’s stock.

TG Therapeutics Company Profile

TG Therapeutics, Inc, a commercial stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel treatments for B-cell mediated diseases in the United States and internationally. It provides BRIUMVI, an anti-CD20 monoclonal antibody for the treatment of adult patients with relapsing forms of multiple sclerosis (RMS), including clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease in adults.