TG Therapeutics (NASDAQ:TGTX) Shares Down 9% – Here’s Why

TG Therapeutics, Inc. (NASDAQ:TGTX) shares dropped 9% during mid-day trading on Thursday . The stock traded as low as $31.37 and last traded at $31.76. Approximately 2,935,558 shares were traded during trading, a decline of 20% from the average daily volume of 3,686,909 shares. The stock had previously closed at $34.90.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on TGTX shares. HC Wainwright lifted their target price on shares of TG Therapeutics from $49.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. B. Riley boosted their price objective on shares of TG Therapeutics from $29.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. TD Cowen began coverage on TG Therapeutics in a research note on Tuesday, October 29th. They issued a “buy” rating and a $50.00 target price for the company. Finally, The Goldman Sachs Group boosted their price target on TG Therapeutics from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $37.67.

TG Therapeutics Stock Performance

The stock has a market cap of $4.80 billion, a PE ratio of -309.60 and a beta of 2.19. The company has a debt-to-equity ratio of 1.27, a current ratio of 4.59 and a quick ratio of 3.91. The firm has a 50 day moving average of $24.41 and a two-hundred day moving average of $20.89.

TG Therapeutics (NASDAQ:TGTX) last posted its earnings results on Monday, November 4th. The biopharmaceutical company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $81.68 million. During the same period last year, the business earned $0.73 earnings per share. The company’s quarterly revenue was down 49.4% on a year-over-year basis. Research analysts predict that TG Therapeutics, Inc. will post 0.17 EPS for the current fiscal year.

Insider Activity

In other news, Director Sagar Lonial sold 5,000 shares of TG Therapeutics 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 transaction, the director now directly owns 100,195 shares of the company’s stock, valued at $3,049,935.80. The trade was a 4.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 10.50% of the company’s stock.

Institutional Trading of TG Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Swiss National Bank grew its stake in TG Therapeutics by 0.5% during the first quarter. Swiss National Bank now owns 284,100 shares of the biopharmaceutical company’s stock worth $4,321,000 after buying an additional 1,500 shares during the period. Sei Investments Co. acquired a new position in TG Therapeutics in the first quarter worth approximately $591,000. Russell Investments Group Ltd. increased its holdings in shares of TG Therapeutics by 133.5% in the first quarter. Russell Investments Group Ltd. now owns 52,339 shares of the biopharmaceutical company’s stock valued at $796,000 after buying an additional 29,923 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of TG Therapeutics by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 24,914 shares of the biopharmaceutical company’s stock worth $379,000 after acquiring an additional 1,961 shares in the last quarter. Finally, Entropy Technologies LP lifted its holdings in shares of TG Therapeutics by 86.5% during the first quarter. Entropy Technologies LP now owns 53,969 shares of the biopharmaceutical company’s stock valued at $821,000 after purchasing an additional 25,033 shares during the last quarter. 58.58% of the stock is owned by hedge funds and other institutional investors.

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.