TG Therapeutics (NASDAQ:TGTX) Stock Price Up 6.8% – Here’s What Happened

TG Therapeutics, Inc. (NASDAQ:TGTX) shares traded up 6.8% during mid-day trading on Friday . The company traded as high as $30.63 and last traded at $31.03. 1,194,353 shares changed hands 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.

Analysts Set New Price Targets

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

TG Therapeutics Trading Up 7.6 %

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 market capitalization of $4.87 billion, a PE ratio of -312.57 and a beta of 2.24. The business’s 50-day moving average is $31.54 and its two-hundred day moving average is $26.03.

TG Therapeutics (NASDAQ:TGTX) last issued its 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). The firm had revenue of $83.90 million during the quarter, compared to analysts’ expectations of $81.68 million. TG Therapeutics had a negative net margin of 5.42% and a negative return on equity of 8.32%. The firm’s revenue was down 49.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.73 EPS. As a group, equities research analysts anticipate that TG Therapeutics, Inc. will post 0.08 earnings per share for the current year.

Insider Activity

In related news, CFO Sean A. Power sold 11,337 shares of the firm’s stock in a transaction dated 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 owns 670,632 shares in the company, valued at $20,313,443.28. This trade represents a 1.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sagar Lonial sold 5,000 shares of the company’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 in the company, valued at $3,049,935.80. The trade was a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,358 shares of company stock valued at $781,497 in the last three months. 10.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TG Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of TGTX. State Street Corp increased its position in shares of TG Therapeutics by 35.8% in the third quarter. State Street Corp now owns 9,094,158 shares of the biopharmaceutical company’s stock valued at $212,712,000 after buying an additional 2,398,015 shares in the last quarter. Marshall Wace LLP acquired a new position in TG Therapeutics during the second quarter worth about $36,501,000. Charles Schwab Investment Management Inc. grew its position in shares of TG Therapeutics by 0.7% in 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. Principal Financial Group Inc. increased its stake in shares of TG Therapeutics by 1,549.4% during the 3rd quarter. Principal Financial Group Inc. now owns 772,188 shares of the biopharmaceutical company’s stock worth $18,061,000 after purchasing an additional 725,371 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of TG Therapeutics by 60.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 720,798 shares of the biopharmaceutical company’s stock worth $16,859,000 after purchasing an additional 270,286 shares during the last quarter. 58.58% of the stock is owned by institutional investors and hedge funds.

About TG Therapeutics

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.