TG Therapeutics (NASDAQ:TGTX) Stock Price Up 7.9% – Here’s Why

TG Therapeutics, Inc. (NASDAQ:TGTX) shares shot up 7.9% during mid-day trading on Tuesday . The stock traded as high as $30.79 and last traded at $31.0560. 1,394,719 shares were traded during mid-day trading, a decline of 30% from the average session volume of 1,992,616 shares. The stock had previously closed at $28.77.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of TG Therapeutics in a report on Monday, December 29th. The Goldman Sachs Group increased their price target on shares of TG Therapeutics from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, January 15th. JPMorgan Chase & Co. decreased their price target on TG Therapeutics from $49.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday, February 2nd. Wall Street Zen lowered TG Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of TG Therapeutics in a research note on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.00.

TG Therapeutics Price Performance

The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.29 and a current ratio of 4.10. The company’s fifty day moving average price is $29.53 and its 200 day moving average price is $31.51. The firm has a market capitalization of $4.98 billion, a price-to-earnings ratio of 11.44 and a beta of 1.87.

TG Therapeutics (NASDAQ:TGTX) last issued its earnings results on Thursday, February 26th. The biopharmaceutical company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.21). TG Therapeutics had a return on equity of 101.12% and a net margin of 72.56%.The business had revenue of $192.57 million during the quarter, compared to the consensus estimate of $192.15 million. During the same period in the prior year, the business earned $0.15 EPS. The business’s revenue was up 78.0% on a year-over-year basis. Equities research analysts expect that TG Therapeutics, Inc. will post 0.08 earnings per share for the current year.

Institutional Investors Weigh In On TG Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Congress Asset Management Co. bought a new position in shares of TG Therapeutics during the fourth quarter worth about $57,307,000. Man Group plc lifted its position in TG Therapeutics by 621.5% in the 3rd quarter. Man Group plc now owns 1,008,462 shares of the biopharmaceutical company’s stock valued at $36,431,000 after purchasing an additional 868,697 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in TG Therapeutics by 856.6% during the 4th quarter. BNP Paribas Financial Markets now owns 683,653 shares of the biopharmaceutical company’s stock valued at $20,380,000 after purchasing an additional 612,189 shares during the period. Goldman Sachs Group Inc. boosted its stake in TG Therapeutics by 35.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,051,132 shares of the biopharmaceutical company’s stock valued at $61,144,000 after purchasing an additional 531,759 shares during the period. Finally, Invesco Ltd. grew its position in TG Therapeutics by 47.1% in the 4th quarter. Invesco Ltd. now owns 1,609,815 shares of the biopharmaceutical company’s stock worth $47,989,000 after purchasing an additional 515,481 shares during the last quarter. 58.58% of the stock is currently owned by institutional investors.

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.