TG Therapeutics (NASDAQ:TGTX) Hits New 12-Month High on Analyst Upgrade

TG Therapeutics, Inc. (NASDAQ:TGTX) hit a new 52-week high during mid-day trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $30.00 to $43.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. TG Therapeutics traded as high as $36.84 and last traded at $36.48, with a volume of 298445 shares traded. The stock had previously closed at $35.07.

TGTX has been the topic of a number of other research reports. The Goldman Sachs Group lifted their price target on TG Therapeutics from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. B. Riley lifted their price target on TG Therapeutics from $29.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. TD Cowen started coverage on TG Therapeutics in a report on Tuesday, October 29th. They set a “buy” rating and a $50.00 price target on the stock. Finally, HC Wainwright boosted their target price on TG Therapeutics from $49.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Two equities research 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $40.67.

Insider Buying and Selling

In other news, Director Sagar Lonial sold 5,000 shares of the company’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 value of $152,200.00. Following the sale, the director now directly owns 100,195 shares in the company, valued at approximately $3,049,935.80. This represents a 4.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 10.50% of the stock is owned by insiders.

Institutional Investors Weigh In On TG Therapeutics

A number of large investors have recently bought and sold shares of TGTX. NBC Securities Inc. lifted its holdings in TG Therapeutics by 58.9% during the 3rd quarter. NBC Securities Inc. now owns 1,309 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 485 shares in the last quarter. Quarry LP lifted its stake in shares of TG Therapeutics by 9.1% in the 2nd quarter. Quarry LP now owns 6,003 shares of the biopharmaceutical company’s stock valued at $107,000 after purchasing an additional 503 shares during the period. Private Advisor Group LLC lifted its stake in shares of TG Therapeutics by 3.9% in the 3rd quarter. Private Advisor Group LLC now owns 14,407 shares of the biopharmaceutical company’s stock valued at $337,000 after purchasing an additional 542 shares during the period. Blue Trust Inc. lifted its stake in shares of TG Therapeutics by 127.3% in the 3rd quarter. Blue Trust Inc. now owns 1,516 shares of the biopharmaceutical company’s stock valued at $35,000 after purchasing an additional 849 shares during the period. Finally, KBC Group NV lifted its stake in shares of TG Therapeutics by 30.5% in the 3rd quarter. KBC Group NV now owns 4,675 shares of the biopharmaceutical company’s stock valued at $109,000 after purchasing an additional 1,092 shares during the period. 58.58% of the stock is currently owned by institutional investors.

TG Therapeutics Stock Performance

The stock has a 50 day moving average price of $25.62 and a two-hundred day moving average price of $21.70. The company has a current ratio of 4.59, a quick ratio of 3.91 and a debt-to-equity ratio of 1.27. The company has a market cap of $5.68 billion, a price-to-earnings ratio of -357.76 and a beta of 2.19.

TG Therapeutics (NASDAQ:TGTX) last posted its quarterly earnings results on Monday, November 4th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The company had revenue of $83.90 million during the quarter, compared to analyst estimates of $81.68 million. TG Therapeutics had a negative net margin of 5.42% and a negative return on equity of 8.32%. The business’s revenue for the quarter was down 49.4% compared to the same quarter last year. During the same period last year, the company earned $0.73 EPS. Analysts predict that TG Therapeutics, Inc. will post 0.17 EPS for the current year.

About TG Therapeutics

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.