TG Therapeutics (NASDAQ:TGTX) Stock Breaks Above 50-Day Moving Average – Time to Sell?

TG Therapeutics, Inc. (NASDAQ:TGTX) passed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $54.70 and traded as high as $55.49. TG Therapeutics shares last traded at $54.79, with a volume of 1,187,439 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on TGTX shares. B. Riley Financial boosted their price target on TG Therapeutics from $55.00 to $86.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Bank of America upped their target price on TG Therapeutics from $17.00 to $20.00 and gave the company an “underperform” rating in a research report on Tuesday, July 7th. HC Wainwright reiterated a “buy” rating and set a $78.00 target price on shares of TG Therapeutics in a research report on Tuesday, September 1st. JPMorgan Chase & Co. increased their target price on TG Therapeutics from $65.00 to $72.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Finally, Weiss Ratings cut TG Therapeutics from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, TG Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $63.00.

TG Therapeutics Trading Up 1.1%

The firm’s fifty day simple moving average is $54.70 and its 200 day simple moving average is $43.17. The stock has a market capitalization of $8.39 billion, a P/E ratio of 20.00, a price-to-earnings-growth ratio of 2.29 and a beta of 1.80. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.72 and a current ratio of 4.27.

TG Therapeutics (NASDAQ:TGTX) last issued its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.26). The firm had revenue of $240.34 million for the quarter, compared to the consensus estimate of $229.77 million. TG Therapeutics had a return on equity of 73.49% and a net margin of 55.22%. The business’s revenue was up 70.2% on a year-over-year basis. During the same period last year, the company posted $0.17 EPS. As a group, equities research analysts forecast that TG Therapeutics, Inc. will post 0.92 EPS for the current fiscal year.

Insider Transactions at TG Therapeutics

In other TG Therapeutics news, Director Laurence Charney sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $54.96, for a total transaction of $274,800.00. Following the completion of the transaction, the director directly owned 168,640 shares in the company, valued at $9,268,454.40. The trade was a 2.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.87% of the stock is owned by company insiders.

Institutional Investors Weigh In On TG Therapeutics

Large investors have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of TG Therapeutics in the 2nd quarter valued at $1,211,429,000. Bank of America Corp DE bought a new position in shares of TG Therapeutics in the 2nd quarter valued at $71,960,000. Pictet Asset Management Holding SA increased its stake in shares of TG Therapeutics by 19.6% in the 1st quarter. Pictet Asset Management Holding SA now owns 1,747,373 shares of the biopharmaceutical company’s stock valued at $58,048,000 after purchasing an additional 286,325 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of TG Therapeutics during the 2nd quarter worth $49,472,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of TG Therapeutics by 129.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,084,855 shares of the biopharmaceutical company’s stock worth $36,029,000 after buying an additional 612,068 shares in the last quarter. Institutional investors and hedge funds own 58.58% of the company’s stock.

About TG Therapeutics

TG Therapeutics, Inc is a commercial-stage biopharmaceutical company focused on developing and delivering medicines for B-cell diseases, including multiple sclerosis and certain blood cancers. The company’s research and development programs are centered on therapies that target B cells and the immune system.

TG Therapeutics’ primary marketed product is BRIUMVI (ublituximab-xiiy), an anti-CD20 monoclonal antibody approved in the United States for the treatment of relapsing forms of multiple sclerosis in adults.