TG Therapeutics (NASDAQ:TGTX) Hits New 12-Month High – Here’s Why
by Danessa Lincoln · The Markets DailyShares of TG Therapeutics, Inc. (NASDAQ:TGTX – Get Free Report) hit a new 52-week high on Thursday . The stock traded as high as $27.79 and last traded at $27.42, with a volume of 254056 shares. The stock had previously closed at $27.17.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group boosted their target price on shares of TG Therapeutics from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Tuesday. B. Riley upped their price objective on TG Therapeutics from $29.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. TD Cowen assumed coverage on TG Therapeutics in a report on Tuesday, October 29th. They issued a “buy” rating and a $50.00 target price on the stock. Finally, HC Wainwright raised their price objective on TG Therapeutics from $49.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, TG Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $37.67.
View Our Latest Report on TGTX
TG Therapeutics Stock Performance
The company has a 50-day moving average of $23.65 and a 200-day moving average of $20.30. The firm has a market capitalization of $4.30 billion, a price-to-earnings ratio of -271.70 and a beta of 2.19. The company has a current ratio of 3.58, a quick ratio of 2.83 and a debt-to-equity ratio of 0.58.
TG Therapeutics (NASDAQ:TGTX – Get Free Report) last posted 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). TG Therapeutics had a net margin of 27.60% and a return on equity of 57.73%. The business had revenue of $83.90 million during the quarter, compared to analyst estimates of $81.68 million. During the same period last year, the firm posted $0.73 earnings per share. The company’s quarterly revenue was down 49.4% on a year-over-year basis. On average, equities research analysts forecast that TG Therapeutics, Inc. will post 0.13 earnings per share for the current fiscal year.
Institutional Investors Weigh In On TG Therapeutics
Several large investors have recently added to or reduced their stakes in TGTX. Swiss National Bank increased its stake in shares of TG Therapeutics by 0.5% in the first quarter. Swiss National Bank now owns 284,100 shares of the biopharmaceutical company’s stock valued at $4,321,000 after purchasing an additional 1,500 shares during the period. Quantum Private Wealth LLC grew its stake in shares of TG Therapeutics by 13.7% in the first quarter. Quantum Private Wealth LLC now owns 103,604 shares of the biopharmaceutical company’s stock worth $1,576,000 after purchasing an additional 12,523 shares in the last quarter. Sei Investments Co. acquired a new position in shares of TG Therapeutics during the first quarter valued at $591,000. Russell Investments Group Ltd. raised its stake in shares of TG Therapeutics by 133.5% during the first quarter. Russell Investments Group Ltd. now owns 52,339 shares of the biopharmaceutical company’s stock valued at $796,000 after purchasing an additional 29,923 shares in the last quarter. Finally, ProShare Advisors LLC lifted its holdings in TG Therapeutics by 8.5% in the first quarter. ProShare Advisors LLC now owns 24,914 shares of the biopharmaceutical company’s stock worth $379,000 after purchasing an additional 1,961 shares during the period. 58.58% of the stock is 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.