TG Therapeutics (NASDAQ:TGTX) Shares Gap Up to $13.66

TG Therapeutics, Inc. (NASDAQ:TGTX)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $13.66, but opened at $17.15. TG Therapeutics shares last traded at $16.31, with a volume of 5,961,876 shares changing hands.

Analyst Ratings Changes

Several equities research analysts have commented on TGTX shares. StockNews.com lowered shares of TG Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, February 24th. LADENBURG THALM/SH SH reaffirmed a “buy” rating and set a $39.00 target price on shares of TG Therapeutics in a research note on Thursday, April 18th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $25.00 price target on shares of TG Therapeutics in a research note on Thursday, April 18th. B. Riley lifted their price objective on shares of TG Therapeutics from $24.00 to $29.00 and gave the company a “buy” rating in a research note on Monday, February 5th. Finally, HC Wainwright reiterated a “buy” rating and issued a $45.00 target price on shares of TG Therapeutics in a research report on Thursday, April 18th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, TG Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $29.00.

TG Therapeutics Stock Performance

The company has a fifty day moving average price of $15.07 and a two-hundred day moving average price of $14.32. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of 769.38 and a beta of 2.30. The company has a debt-to-equity ratio of 0.62, a current ratio of 5.92 and a quick ratio of 5.18.

TG Therapeutics (NASDAQ:TGTX) last issued its quarterly earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.03. The company had revenue of $43.97 million during the quarter, compared to the consensus estimate of $40.06 million. TG Therapeutics had a net margin of 5.42% and a return on equity of 12.89%. During the same period in the prior year, the company earned ($0.39) EPS. As a group, equities research analysts expect that TG Therapeutics, Inc. will post -0.11 EPS for the current year.

Insiders Place Their Bets

In other news, Director Laurence N. Charney sold 22,000 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $15.97, for a total transaction of $351,340.00. Following the completion of the sale, the director now owns 215,229 shares in the company, valued at approximately $3,437,207.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Pingora Partners LLC purchased a new stake in shares of TG Therapeutics in the 4th quarter valued at approximately $27,000. PNC Financial Services Group Inc. boosted its position in shares of TG Therapeutics by 131.7% in the third quarter. PNC Financial Services Group Inc. now owns 3,543 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 2,014 shares during the period. Anchor Investment Management LLC purchased a new position in shares of TG Therapeutics during the fourth quarter valued at $80,000. NBC Securities Inc. acquired a new position in TG Therapeutics during the third quarter valued at $58,000. Finally, REDW Wealth LLC purchased a new stake in TG Therapeutics in the 3rd quarter worth about $84,000. 58.58% of the stock is currently 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.