TG Therapeutics (NASDAQ:TGTX) Director Sells $274,800.00 in Stock

Key Points

• Director Laurence Charney sold 5,000 TG Therapeutics shares at an average price of $54.96, generating $274,800 and reducing his position by 2.88% to 168,640 shares.
• TG Therapeutics’ stock was recently trading near $54, close to its 52-week high of $59.30. The company reported quarterly revenue of $240.34 million, up 70.2% year over year, but missed analysts’ EPS estimate.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $63.00, while institutional investors own 58.58% of the company.

TG Therapeutics, Inc. (NASDAQ:TGTX - Get Free Report) Director Laurence Charney sold 5,000 shares of the firm'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 completion of the transaction, the director owned 168,640 shares in the company, valued at approximately $9,268,454.40. This represents a 2.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

TG Therapeutics Trading Up 0.2%

NASDAQ:TGTX traded up $0.11 on Monday, hitting $54.00. 1,362,161 shares of the stock were exchanged, compared to its average volume of 2,177,618. The stock has a market capitalization of $8.27 billion, a price-to-earnings ratio of 19.71, a P/E/G ratio of 2.31 and a beta of 1.67. TG Therapeutics, Inc. has a 52 week low of $26.76 and a 52 week high of $59.30. 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's 50-day moving average price is $53.64 and its 200 day moving average price is $43.77.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last issued its earnings results 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 business had revenue of $240.34 million during the quarter, compared to the consensus estimate of $229.77 million. During the same period last year, the business posted $0.17 EPS. The firm's revenue for the quarter was up 70.2% compared to the same quarter last year. On average, equities research analysts forecast that TG Therapeutics, Inc. will post 0.92 earnings per share for the current year.

Institutional Investors Weigh In On TG Therapeutics

Large investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of TG Therapeutics in the 2nd quarter valued at $1,211,429,000. California State Teachers Retirement System raised its stake in TG Therapeutics by 5,233.8% during the 2nd quarter. California State Teachers Retirement System now owns 9,374,083 shares of the biopharmaceutical company's stock worth $515,012,000 after buying an additional 9,198,333 shares during the period. Bank of America Corp DE acquired a new stake in TG Therapeutics during the 2nd quarter worth $71,960,000. Bank of New York Mellon Corp bought a new position in TG Therapeutics during the second quarter worth about $49,472,000. Finally, BNP Paribas Financial Markets lifted its holdings in TG Therapeutics by 856.6% during the fourth quarter. BNP Paribas Financial Markets now owns 683,653 shares of the biopharmaceutical company's stock worth $20,380,000 after acquiring an additional 612,189 shares in the last quarter. Institutional investors own 58.58% of the company's stock.

Analyst Ratings Changes

TGTX has been the subject of a number of analyst reports. HC Wainwright reaffirmed a "buy" rating and set a $78.00 target price on shares of TG Therapeutics in a report on Tuesday, September 1st. B. Riley Financial raised their price target on TG Therapeutics from $55.00 to $86.00 and gave the stock a "buy" rating in a research report on Monday, July 27th. Jefferies Financial Group reiterated a "buy" rating and issued a $83.00 price objective on shares of TG Therapeutics in a report on Monday, June 22nd. Weiss Ratings reissued a "hold (c+)" rating on shares of TG Therapeutics in a research note on Wednesday, July 29th. Finally, Zacks Research cut TG Therapeutics from a "hold" rating to a "strong sell" rating in a report on Monday, September 7th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $63.00.

TG Therapeutics Company Profile

TG Therapeutics, Inc is a commercial-stage biopharmaceutical company focused on developing and delivering treatments for B-cell diseases and autoimmune disorders. The company's research and development programs are centered on therapies that target B cells, which play an important role in several immune-mediated conditions.

TG Therapeutics' principal product is BRIUMVI (ublituximab-xiiy), an anti-CD20 monoclonal antibody approved by the U.S. Food and Drug Administration for the treatment of adults with relapsing forms of multiple sclerosis, including clinically isolated syndrome, relapsing-remitting multiple sclerosis and active secondary progressive multiple sclerosis.

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