TG Therapeutics (NASDAQ:TGTX) Shares Pass Above 200-Day Moving Average – Here’s What Happened
by Doug Wharley · The Cerbat GemShares of TG Therapeutics, Inc. (NASDAQ:TGTX – Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $31.96 and traded as high as $39.94. TG Therapeutics shares last traded at $39.48, with a volume of 1,602,642 shares.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on TGTX shares. Weiss Ratings raised TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 1st. HC Wainwright lifted their price target on TG Therapeutics from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Zacks Research downgraded TG Therapeutics from a “hold” rating to a “strong sell” rating in a report on Friday, May 1st. Wall Street Zen cut TG Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Finally, JPMorgan Chase & Co. reduced their price target on TG Therapeutics from $49.00 to $46.00 and set an “overweight” rating on the stock in a research report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $52.50.
Get Our Latest Stock Analysis on TG Therapeutics
TG Therapeutics Stock Performance
The company has a market cap of $6.04 billion, a PE ratio of 13.80 and a beta of 1.68. The company has a current ratio of 5.81, a quick ratio of 5.12 and a debt-to-equity ratio of 1.28. The business has a fifty day moving average of $34.39 and a 200-day moving average of $31.96.
TG Therapeutics (NASDAQ:TGTX – Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.11). TG Therapeutics had a net margin of 65.95% and a return on equity of 88.73%. The business had revenue of $204.92 million for the quarter, compared to analysts’ expectations of $200.33 million. During the same quarter in the prior year, the firm earned $0.03 EPS. The firm’s revenue for the quarter was up 69.5% on a year-over-year basis. Equities research analysts anticipate that TG Therapeutics, Inc. will post 1.31 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the business. Royal Bank of Canada grew its holdings in shares of TG Therapeutics by 16.4% during the 1st quarter. Royal Bank of Canada now owns 75,692 shares of the biopharmaceutical company’s stock worth $2,985,000 after acquiring an additional 10,660 shares during the period. NewEdge Advisors LLC grew its holdings in shares of TG Therapeutics by 9.6% during the 1st quarter. NewEdge Advisors LLC now owns 7,593 shares of the biopharmaceutical company’s stock worth $299,000 after acquiring an additional 665 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of TG Therapeutics by 21.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,919,416 shares of the biopharmaceutical company’s stock worth $75,683,000 after acquiring an additional 345,059 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of TG Therapeutics by 5.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 287,059 shares of the biopharmaceutical company’s stock worth $11,319,000 after acquiring an additional 14,689 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of TG Therapeutics by 86.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,237 shares of the biopharmaceutical company’s stock worth $45,000 after acquiring an additional 573 shares during the period. Hedge funds and other institutional investors own 58.58% of the company’s stock.
About TG Therapeutics
TG Therapeutics, Inc is a clinical‐stage biopharmaceutical company headquartered in New York City that specializes in developing targeted therapies for hematological malignancies and autoimmune diseases. The company’s research strategy focuses on the modulation of B-cell biology through novel antibody and small‐molecule agents. Since its founding in 2003, TG Therapeutics has built a diversified portfolio aimed at addressing unmet medical needs in oncology and immunology.
In December 2022, TG Therapeutics achieved its first commercial milestone when ublituximab-xiiy (marketed as Briumvi® in collaboration with Biogen) received U.S.