TG Therapeutics (NASDAQ:TGTX) Trading Up 5% – Here’s What Happened

Shares of TG Therapeutics, Inc. (NASDAQ:TGTX) rose 5% during trading on Tuesday . The company traded as high as $32.48 and last traded at $32.29. Approximately 2,162,221 shares traded hands during mid-day trading, a decline of 41% from the average daily volume of 3,645,974 shares. The stock had previously closed at $30.74.

Analyst Ratings Changes

TGTX has been the subject of a number of analyst reports. The Goldman Sachs Group increased 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. HC Wainwright raised their price target on shares of TG Therapeutics from $49.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. B. Riley lifted their price target on shares of TG Therapeutics from $29.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Finally, TD Cowen initiated coverage on shares of TG Therapeutics in a research note on Tuesday, October 29th. They set a “buy” rating and a $50.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.67.

TG Therapeutics Stock Performance

The company has a debt-to-equity ratio of 1.27, a quick ratio of 3.91 and a current ratio of 4.59. The stock has a 50 day moving average of $24.41 and a 200 day moving average of $20.89. The stock has a market capitalization of $4.80 billion, a P/E ratio of -308.40 and a beta of 2.19.

TG Therapeutics (NASDAQ:TGTX) last released its quarterly earnings results on Monday, November 4th. The biopharmaceutical company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). The firm had revenue of $83.90 million for the quarter, compared to the consensus estimate of $81.68 million. TG Therapeutics had a negative return on equity of 8.32% and a negative net margin of 5.42%. The firm’s revenue was down 49.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.73 EPS. Equities analysts predict that TG Therapeutics, Inc. will post 0.17 EPS for the current year.

Insiders Place Their Bets

In other news, Director Sagar Lonial sold 5,000 shares of the company’s stock in a transaction 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 completion of the sale, the director now owns 100,195 shares in the company, valued at $3,049,935.80. This represents a 4.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 10.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TGTX. NBC Securities Inc. lifted its stake in TG Therapeutics by 58.9% during the third quarter. NBC Securities Inc. now owns 1,309 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 485 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of TG Therapeutics in the 2nd quarter valued at about $35,000. Blue Trust Inc. boosted its holdings in shares of TG Therapeutics by 127.3% during the third quarter. Blue Trust Inc. now owns 1,516 shares of the biopharmaceutical company’s stock worth $35,000 after purchasing an additional 849 shares during the period. ORG Wealth Partners LLC purchased a new position in TG Therapeutics during the third quarter valued at approximately $53,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in TG Therapeutics in the 1st quarter worth approximately $58,000. Institutional investors and hedge funds own 58.58% of the company’s stock.

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.