TG Therapeutics (NASDAQ:TGTX) Hits New 52-Week High - What's Next?

Key Points

• TG Therapeutics shares reached a new 52-week high, trading as high as $59.49 and last changing hands near $59.86, giving the company a market capitalization of approximately $9.38 billion.
• Analyst sentiment is generally positive: six analysts rate the stock Buy, two rate it Hold, and one rates it Sell. The consensus rating is “Moderate Buy,” with an average price target of $63, while individual targets range as high as $86.
• The company reported quarterly revenue of $240.34 million, up 70.2% year over year and above estimates, but adjusted EPS of $0.05 missed expectations of $0.31. TG Therapeutics markets BRIUMVI, an approved treatment for relapsing multiple sclerosis.

Shares of TG Therapeutics, Inc. (NASDAQ:TGTX - Get Free Report) reached a new 52-week high during mid-day trading on Friday. The stock traded as high as $59.49 and last traded at $59.8560, with a volume of 131,380 shares trading hands. The stock had previously closed at $58.08.

Wall Street Analysts Forecast Growth

TGTX has been the topic of several recent research reports. B. Riley Financial lifted their target price on TG Therapeutics from $55.00 to $86.00 and gave the stock a "buy" rating in a report on Monday, July 27th. Weiss Ratings lowered TG Therapeutics from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, October 23rd. Zacks Research upgraded TG Therapeutics from a "strong sell" rating to a "hold" rating in a report on Tuesday, October 6th. JPMorgan Chase & Co. increased their target price on shares of TG Therapeutics from $65.00 to $72.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. Finally, HC Wainwright restated a "buy" rating and set a $78.00 price target on shares of TG Therapeutics in a report on Tuesday, September 1st. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, TG Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $63.00.

TG Therapeutics Stock Performance

The company has a quick ratio of 3.72, a current ratio of 4.27 and a debt-to-equity ratio of 1.23. The company has a 50 day simple moving average of $55.12 and a 200-day simple moving average of $43.58. The stock has a market capitalization of $9.38 billion, a price-to-earnings ratio of 22.23, a price-to-earnings-growth ratio of 2.42 and a beta of 1.80.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last posted its quarterly 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). The business had revenue of $240.34 million during the quarter, compared to analyst estimates of $229.77 million. TG Therapeutics had a net margin of 55.22% and a return on equity of 73.49%. The business's revenue for the quarter was up 70.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.17 EPS. As a group, equities research analysts expect that TG Therapeutics, Inc. will post 0.92 EPS for the current fiscal year.

Insider Transactions at TG Therapeutics

In other TG Therapeutics news, Director Laurence Charney sold 5,000 shares of the stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $54.96, for a total transaction of $274,800.00. Following the transaction, the director directly owned 168,640 shares in the company, valued at $9,268,454.40. This trade represents a 2.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.87% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TG Therapeutics

A number of hedge funds have recently modified their holdings of the company. Stronghold Wealth Management L.L.C. boosted its position in TG Therapeutics by 6.3% in the third quarter. Stronghold Wealth Management L.L.C. now owns 3,922 shares of the biopharmaceutical company's stock worth $219,000 after purchasing an additional 231 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of TG Therapeutics by 45.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 993 shares of the biopharmaceutical company's stock valued at $55,000 after acquiring an additional 312 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of TG Therapeutics by 51.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the biopharmaceutical company's stock worth $35,000 after purchasing an additional 365 shares in the last quarter. Choreo LLC lifted its position in TG Therapeutics by 3.7% during the third quarter. Choreo LLC now owns 10,811 shares of the biopharmaceutical company's stock valued at $603,000 after purchasing an additional 384 shares in the last quarter. Finally, Chiron Capital Management LLC grew its holdings in TG Therapeutics by 10.5% during the third quarter. Chiron Capital Management LLC now owns 4,200 shares of the biopharmaceutical company's stock valued at $234,000 after purchasing an additional 400 shares during the period. Hedge funds and other institutional investors own 58.58% of the company's stock.

About TG Therapeutics

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.

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