TG Therapeutics (NASDAQ:TGTX) Trading 6.8% Higher – Here’s Why

TG Therapeutics, Inc. (NASDAQ:TGTX)’s share price shot up 6.8% on Friday . The company traded as high as $30.63 and last traded at $31.03. 1,194,353 shares were traded during mid-day trading, a decline of 56% from the average session volume of 2,698,843 shares. The stock had previously closed at $29.04.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group raised their price target on shares of TG Therapeutics from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. StockNews.com raised shares of TG Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, January 7th. TD Cowen assumed coverage on shares of TG Therapeutics in a research note on Tuesday, October 29th. They set a “buy” rating and a $50.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and set a $55.00 price target on shares of TG Therapeutics in a research note on Wednesday, January 15th. Finally, JPMorgan Chase & Co. raised their price target on shares of TG Therapeutics from $30.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, TG Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $40.67.

TG Therapeutics Price Performance

The business’s 50 day moving average is $31.57 and its two-hundred day moving average is $26.16. The firm has a market cap of $4.87 billion, a P/E ratio of -312.57 and a beta of 2.24. The company has a quick ratio of 3.91, a current ratio of 4.59 and a debt-to-equity ratio of 1.27.

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 the consensus estimate 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 the consensus estimate of $81.68 million. During the same period last year, the firm posted $0.73 earnings per share. The company’s revenue for the quarter was down 49.4% on a year-over-year basis. As a group, analysts anticipate that TG Therapeutics, Inc. will post 0.08 earnings per share for the current year.

Insider Buying and Selling at TG Therapeutics

In other TG Therapeutics news, CFO Sean A. Power sold 11,337 shares of TG Therapeutics stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $30.29, for a total value of $343,397.73. Following the completion of the sale, the chief financial officer now directly owns 670,632 shares of the company’s stock, valued at approximately $20,313,443.28. The trade was a 1.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $152,200.00. Following the completion of the sale, the director now directly owns 100,195 shares of the company’s stock, valued at approximately $3,049,935.80. This trade represents a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,358 shares of company stock valued at $781,497. Corporate insiders own 10.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Precision Wealth Strategies LLC purchased a new position in TG Therapeutics during the fourth quarter worth about $530,000. Symphony Financial Ltd. Co. bought a new stake in shares of TG Therapeutics in the fourth quarter valued at approximately $324,000. Synergy Asset Management LLC bought a new stake in shares of TG Therapeutics in the fourth quarter valued at approximately $75,000. Parkwoods Wealth Partners LLC bought a new stake in shares of TG Therapeutics in the fourth quarter valued at approximately $211,000. Finally, KBC Group NV raised its position in shares of TG Therapeutics by 48.9% in the fourth quarter. KBC Group NV now owns 6,960 shares of the biopharmaceutical company’s stock valued at $209,000 after purchasing an additional 2,285 shares during the period. 58.58% of the stock is currently owned by institutional investors and hedge funds.

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.