TG Therapeutics (NASDAQ:TGTX) Reaches New 52-Week High – Here’s What Happened

TG Therapeutics, Inc. (NASDAQ:TGTX)’s stock price hit a new 52-week high on Friday. The company traded as high as $59.49 and last traded at $59.8560, with a volume of 131,380 shares traded. The stock had previously closed at $58.08.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TGTX. Bank of America upped their price target on shares of TG Therapeutics from $17.00 to $20.00 and gave the stock an “underperform” rating in a report on Tuesday, July 7th. HC Wainwright reissued a “buy” rating and issued a $78.00 price objective on shares of TG Therapeutics in a research report on Tuesday, September 1st. B. Riley Financial lifted their price objective on shares of TG Therapeutics from $55.00 to $86.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Weiss Ratings downgraded TG Therapeutics from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 23rd. Finally, JPMorgan Chase & Co. upped their target price on TG Therapeutics from $65.00 to $72.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, TG Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.00.

TG Therapeutics Trading Up 5.5%

The stock has a market cap of $9.38 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 2.42 and a beta of 1.80. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.72 and a current ratio of 4.27. The company has a 50 day moving average of $55.12 and a two-hundred day moving average of $43.58.

TG Therapeutics (NASDAQ:TGTX) last posted its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.26). TG Therapeutics had a net margin of 55.22% and a return on equity of 73.49%. The company had revenue of $240.34 million for the quarter, compared to analysts’ expectations of $229.77 million. During the same period in the previous year, the business earned $0.17 earnings per share. The business’s revenue for the quarter was up 70.2% on a year-over-year basis. Sell-side analysts anticipate that TG Therapeutics, Inc. will post 0.92 earnings per share for the current fiscal year.

Insider Transactions at TG Therapeutics

In related news, Director Laurence Charney sold 5,000 shares of the business’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $54.96, for a total value of $274,800.00. Following the sale, the director directly owned 168,640 shares in the company, valued at approximately $9,268,454.40. The trade was a 2.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.87% of the company’s stock.

Institutional Investors Weigh In On TG Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of TGTX. Oregon Public Employees Retirement Fund increased its stake in TG Therapeutics by 6.3% during the third quarter. Oregon Public Employees Retirement Fund now owns 31,862 shares of the biopharmaceutical company’s stock worth $1,777,000 after purchasing an additional 1,900 shares during the period. First Nebraska Trust Co acquired a new stake in TG Therapeutics in the third quarter valued at approximately $390,000. Bridge City Capital LLC grew its holdings in TG Therapeutics by 76.6% during the 3rd quarter. Bridge City Capital LLC now owns 156,988 shares of the biopharmaceutical company’s stock worth $8,757,000 after acquiring an additional 68,092 shares in the last quarter. Profund Advisors LLC increased its position in shares of TG Therapeutics by 26.6% in the 3rd quarter. Profund Advisors LLC now owns 46,230 shares of the biopharmaceutical company’s stock valued at $2,579,000 after purchasing an additional 9,717 shares during the last quarter. Finally, Vise Technologies Inc. raised its holdings in shares of TG Therapeutics by 18.7% in the 3rd quarter. Vise Technologies Inc. now owns 5,114 shares of the biopharmaceutical company’s stock valued at $285,000 after purchasing an additional 807 shares in the last quarter. Hedge funds and other institutional investors own 58.58% of the company’s stock.

TG Therapeutics Company Profile

TG Therapeutics, Inc is a commercial-stage biopharmaceutical company focused on developing and delivering medicines for B-cell diseases, including multiple sclerosis and certain blood cancers. The company’s research and development programs are centered on therapies that target B cells and the immune system.

TG Therapeutics’ primary marketed product is BRIUMVI (ublituximab-xiiy), an anti-CD20 monoclonal antibody approved in the United States for the treatment of relapsing forms of multiple sclerosis in adults.