TG Therapeutics (NASDAQ:TGTX) Sets New 1-Year High – Should You Buy?

TG Therapeutics, Inc. (NASDAQ:TGTX) hit a new 52-week high during trading on Tuesday . The company traded as high as $50.60 and last traded at $50.30, with a volume of 2580380 shares traded. The stock had previously closed at $49.52.

Analysts Set New Price Targets

Several research firms have weighed in on TGTX. Weiss Ratings raised TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. Zacks Research raised TG Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $70.00 target price on shares of TG Therapeutics in a report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $52.50.

TG Therapeutics Stock Up 1.9%

The company has a market capitalization of $7.88 billion, a P/E ratio of 18.01 and a beta of 1.68. The company has a current ratio of 5.81, a quick ratio of 5.12 and a debt-to-equity ratio of 1.28. The stock has a 50 day moving average price of $39.41 and a 200 day moving average price of $33.49.

TG Therapeutics (NASDAQ:TGTX) last announced its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.11). TG Therapeutics had a net margin of 65.95% and a return on equity of 88.73%. The firm had revenue of $204.92 million during the quarter, compared to the consensus estimate of $200.33 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. The firm’s revenue was up 69.5% on a year-over-year basis. On average, research analysts anticipate that TG Therapeutics, Inc. will post 1.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TGTX. Royal Bank of Canada raised its position in TG Therapeutics by 16.4% during the 1st quarter. Royal Bank of Canada now owns 75,692 shares of the biopharmaceutical company’s stock worth $2,985,000 after purchasing an additional 10,660 shares during the last quarter. NewEdge Advisors LLC raised its position in TG Therapeutics by 9.6% during the 1st quarter. NewEdge Advisors LLC now owns 7,593 shares of the biopharmaceutical company’s stock worth $299,000 after purchasing an additional 665 shares during the last quarter. Goldman Sachs Group Inc. raised its position in TG Therapeutics by 21.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,919,416 shares of the biopharmaceutical company’s stock worth $75,683,000 after purchasing an additional 345,059 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in TG Therapeutics by 5.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 287,059 shares of the biopharmaceutical company’s stock worth $11,319,000 after purchasing an additional 14,689 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in TG Therapeutics by 86.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,237 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 573 shares during the last quarter. 58.58% of the stock is owned by institutional investors.

TG Therapeutics Company Profile

TG Therapeutics, Inc is a clinical‐stage biopharmaceutical company headquartered in New York City that specializes in developing targeted therapies for hematological malignancies and autoimmune diseases. The company’s research strategy focuses on the modulation of B-cell biology through novel antibody and small‐molecule agents. Since its founding in 2003, TG Therapeutics has built a diversified portfolio aimed at addressing unmet medical needs in oncology and immunology.

In December 2022, TG Therapeutics achieved its first commercial milestone when ublituximab-xiiy (marketed as Briumvi® in collaboration with Biogen) received U.S.