TG Therapeutics (NASDAQ:TGTX) Trading 6.8% Higher – Here’s Why

TG Therapeutics, Inc. (NASDAQ:TGTXGet Free Report) traded up 6.8% on Friday . The company traded as high as $30.63 and last traded at $31.03. 1,194,353 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 2,698,843 shares. The stock had previously closed at $29.04.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. HC Wainwright restated a “buy” rating and set a $55.00 price objective on shares of TG Therapeutics in a research note on Wednesday, January 15th. JPMorgan Chase & Co. increased their price objective on shares of TG Therapeutics from $30.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. StockNews.com upgraded shares of TG Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, January 7th. TD Cowen assumed coverage on shares of TG Therapeutics in a research note on Tuesday, October 29th. They set a “buy” rating and a $50.00 price objective for the company. Finally, The Goldman Sachs Group increased their price objective on shares of TG Therapeutics from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $40.67.

View Our Latest Report on TGTX

TG Therapeutics Stock Performance

The company has a debt-to-equity ratio of 1.27, a quick ratio of 3.91 and a current ratio of 4.59. The stock’s fifty day moving average price is $31.57 and its 200-day moving average price is $26.16. The company has a market capitalization of $4.87 billion, a P/E ratio of -312.57 and a beta of 2.24.

TG Therapeutics (NASDAQ:TGTXGet Free Report) last released its quarterly earnings results on Monday, November 4th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). The company had revenue of $83.90 million during the quarter, compared to the consensus estimate of $81.68 million. TG Therapeutics had a negative net margin of 5.42% and a negative return on equity of 8.32%. The firm’s revenue was down 49.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.73 earnings per share. As a group, research analysts anticipate that TG Therapeutics, Inc. will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling at TG Therapeutics

In other news, CFO Sean A. Power sold 10,021 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $28.53, for a total transaction of $285,899.13. Following the transaction, the chief financial officer now directly owns 660,611 shares of the company’s stock, valued at approximately $18,847,231.83. This trade represents a 1.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sagar Lonial sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $30.44, for a total transaction of $152,200.00. Following the transaction, the director now directly owns 100,195 shares in the company, valued at $3,049,935.80. This represents a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,358 shares of company stock valued at $781,497 in the last three months. 10.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company boosted its position in shares of TG Therapeutics by 3.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 80,664 shares of the biopharmaceutical company’s stock worth $1,435,000 after acquiring an additional 2,871 shares in the last quarter. Lighthouse Investment Partners LLC acquired a new stake in TG Therapeutics in the second quarter valued at approximately $1,976,000. Algert Global LLC boosted its position in TG Therapeutics by 193.8% in the second quarter. Algert Global LLC now owns 147,218 shares of the biopharmaceutical company’s stock valued at $2,619,000 after buying an additional 97,118 shares in the last quarter. Creative Planning boosted its position in TG Therapeutics by 34.7% in the second quarter. Creative Planning now owns 46,839 shares of the biopharmaceutical company’s stock valued at $833,000 after buying an additional 12,076 shares in the last quarter. Finally, Quarry LP boosted its position in TG Therapeutics by 9.1% in the second quarter. Quarry LP now owns 6,003 shares of the biopharmaceutical company’s stock valued at $107,000 after buying an additional 503 shares in the last quarter. 58.58% of the stock is owned by institutional investors.

TG Therapeutics Company Profile

(Get Free Report)

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.

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