TG Therapeutics (NASDAQ:TGTX) Trading 8.3% Higher – Here’s Why

TG Therapeutics, Inc. (NASDAQ:TGTX)’s share price was up 8.3% on Wednesday . The stock traded as high as $56.33 and last traded at $57.4550. Approximately 211,312 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 2,163,255 shares. The stock had previously closed at $53.04.

Analyst Upgrades and Downgrades

TGTX has been the topic of a number of recent research reports. B. Riley Financial raised their price objective on TG Therapeutics from $55.00 to $86.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Zacks Research lowered TG Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Monday, September 7th. Bank of America increased their target price on TG Therapeutics from $17.00 to $20.00 and gave the company an “underperform” rating in a report on Tuesday, July 7th. HC Wainwright reissued a “buy” rating and issued a $78.00 price target on shares of TG Therapeutics in a report on Tuesday, September 1st. Finally, JPMorgan Chase & Co. boosted their target price on TG Therapeutics from $65.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $63.00.

TG Therapeutics Price Performance

The company has a debt-to-equity ratio of 1.23, a current ratio of 4.27 and a quick ratio of 3.72. The firm’s 50 day moving average is $53.43 and its 200 day moving average is $44.46. The firm has a market cap of $8.64 billion, a P/E ratio of 20.61, a price-to-earnings-growth ratio of 2.39 and a beta of 1.67.

TG Therapeutics (NASDAQ:TGTX) last announced its 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 business had revenue of $240.34 million for the quarter, compared to the consensus estimate of $229.77 million. TG Therapeutics had a net margin of 55.22% and a return on equity of 73.49%. TG Therapeutics’s revenue for the quarter was up 70.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.17 EPS. As a group, analysts anticipate that TG Therapeutics, Inc. will post 0.92 earnings per share for the current 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 on Thursday, September 10th. The stock was sold at an average price of $54.96, for a total value of $274,800.00. Following the sale, the director directly owned 168,640 shares of the company’s stock, valued at approximately $9,268,454.40. The trade was a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 8.87% of the company’s stock.

Hedge Funds Weigh In On TG Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of TGTX. EverSource Wealth Advisors LLC grew its position in TG Therapeutics by 51.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the biopharmaceutical company’s stock valued at $35,000 after purchasing an additional 365 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in shares of TG Therapeutics by 82.7% in the fourth quarter. Hantz Financial Services Inc. now owns 1,237 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 560 shares in the last quarter. Harbor Investment Advisory LLC bought a new position in shares of TG Therapeutics in the second quarter worth approximately $96,000. Covestor Ltd grew its holdings in shares of TG Therapeutics by 563.0% during the fourth quarter. Covestor Ltd now owns 1,810 shares of the biopharmaceutical company’s stock valued at $54,000 after buying an additional 1,537 shares during the last quarter. Finally, Pingora Partners LLC grew its holdings in shares of TG Therapeutics by 31.2% during the fourth quarter. Pingora Partners LLC now owns 2,100 shares of the biopharmaceutical company’s stock valued at $63,000 after buying an additional 500 shares during the last quarter. 58.58% of the stock is currently owned by institutional investors.

About TG Therapeutics

TG Therapeutics, Inc is a commercial-stage biopharmaceutical company focused on developing and delivering treatments for B-cell diseases and autoimmune disorders. The company’s research and development programs are centered on therapies that target B cells, which play an important role in several immune-mediated conditions.

TG Therapeutics’ principal product is BRIUMVI (ublituximab-xiiy), an anti-CD20 monoclonal antibody approved by the U.S. Food and Drug Administration for the treatment of adults with relapsing forms of multiple sclerosis, including clinically isolated syndrome, relapsing-remitting multiple sclerosis and active secondary progressive multiple sclerosis.