TG Therapeutics (NASDAQ:TGTX) Stock Price Up 5% – What’s Next?

by · The Cerbat Gem

Shares of TG Therapeutics, Inc. (NASDAQ:TGTX – Get Free Report) 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 were traded 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

A number of analysts have weighed in on TGTX shares. HC Wainwright boosted their price target on 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 boosted their price target on TG Therapeutics from $29.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. TD Cowen began coverage on shares of TG Therapeutics in a research note on Tuesday, October 29th. They issued a “buy” rating and a $50.00 target price on the stock. Finally, The Goldman Sachs Group increased their price objective on TG Therapeutics from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $37.67.

Read Our Latest Analysis on TGTX

TG Therapeutics Stock Up 0.6 %

The company has a quick ratio of 2.83, a current ratio of 3.58 and a debt-to-equity ratio of 0.58. The company has a market cap of $4.79 billion, a P/E ratio of -309.07 and a beta of 2.19. The company has a fifty day moving average of $23.98 and a 200 day moving average of $20.67.

TG Therapeutics (NASDAQ:TGTX – Get Free Report) last posted its earnings results on Monday, November 4th. The biopharmaceutical company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). TG Therapeutics had a negative return on equity of 8.65% and a negative net margin of 5.42%. The firm had revenue of $83.90 million during the quarter, compared to analysts’ expectations of $81.68 million. During the same quarter in the prior year, the firm posted $0.73 earnings per share. TG Therapeutics’s quarterly revenue was down 49.4% on a year-over-year basis. On average, research analysts anticipate that TG Therapeutics, Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Activity

In other TG Therapeutics news, Director Sagar Lonial sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.44, for a total transaction of $152,200.00. Following the transaction, the director now owns 100,195 shares of the company’s stock, valued at approximately $3,049,935.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 10.50% of the company’s stock.

Hedge Funds Weigh In On TG Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. Penserra Capital Management LLC grew its position in shares of TG Therapeutics by 293.6% during the 3rd quarter. Penserra Capital Management LLC now owns 98,144 shares of the biopharmaceutical company’s stock valued at $2,295,000 after buying an additional 73,211 shares during the last quarter. Citigroup Inc. lifted its stake in shares of TG Therapeutics by 125.7% in the 3rd quarter. Citigroup Inc. now owns 168,277 shares of the biopharmaceutical company’s stock worth $3,936,000 after acquiring an additional 93,730 shares during the period. Eagle Asset Management Inc. acquired a new stake in TG Therapeutics during the third quarter valued at approximately $3,948,000. Charles Schwab Investment Management Inc. lifted its stake in TG Therapeutics by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,184,609 shares of the biopharmaceutical company’s stock valued at $27,708,000 after purchasing an additional 7,939 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in TG Therapeutics during the third quarter valued at approximately $1,129,000. Institutional investors and hedge funds own 58.58% of the company’s stock.

TG Therapeutics Company Profile

(Get Free Report)

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.

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