TG Therapeutics (NASDAQ:TGTX) Shares Break Above 200 Day Moving Average - Should You Sell?

Key Points

• TG Therapeutics shares broke above their 200-day moving average, reaching $54.75 before closing at $53.91, compared with a 200-day average of $46.76.
• Analyst sentiment is mixed: six analysts rate the stock a Buy, one a Hold and two a Sell, resulting in a consensus Hold rating and a $63 target price.
• The company reported quarterly revenue of $240.34 million, up 70.2% year over year and above estimates, but earnings per share of $0.05 missed expectations of $0.31. Institutional investors own 58.58% of the stock, while an insider recently sold 5,000 shares.

TG Therapeutics, Inc. (NASDAQ:TGTX - Get Free Report) shares passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $46.76 and traded as high as $54.75. TG Therapeutics shares last traded at $53.91, with a volume of 1,545,883 shares.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Weiss Ratings raised shares of TG Therapeutics from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, September 21st. Bank of America raised their target price on shares of TG Therapeutics from $17.00 to $20.00 and gave the stock an "underperform" rating in a research report on Tuesday, July 7th. HC Wainwright reiterated a "buy" rating and set a $78.00 price target on shares of TG Therapeutics in a research report on Tuesday, September 1st. JPMorgan Chase & Co. boosted their price target 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, B. Riley Financial lifted their price objective on TG Therapeutics from $55.00 to $86.00 and gave the company a "buy" rating in a research report on Monday, July 27th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $63.00.

TG Therapeutics Trading Down 0.7%

The firm has a market capitalization of $8.25 billion, a PE ratio of 19.68, a P/E/G ratio of 2.33 and a beta of 1.80. The firm has a 50 day simple moving average of $53.67 and a 200 day simple moving average of $46.76. The company has a current ratio of 4.27, a quick ratio of 3.72 and a debt-to-equity ratio of 1.23.

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 for the quarter, missing the consensus estimate of $0.31 by ($0.26). TG Therapeutics had a return on equity of 73.49% and a net margin of 55.22%.The business had revenue of $240.34 million during the quarter, compared to analysts' expectations of $229.77 million. During the same quarter in the prior year, the firm earned $0.17 EPS. The firm's revenue for the quarter was up 70.2% compared to the same quarter last year. Equities analysts expect that TG Therapeutics, Inc. will post 0.92 earnings per share for the current fiscal year.

Insider Transactions at TG Therapeutics

In other TG Therapeutics news, Director Laurence Charney sold 5,000 shares of TG Therapeutics stock in a transaction that occurred on 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 sale, the director owned 168,640 shares of the company's stock, valued at approximately $9,268,454.40. The trade was a 2.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.87% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of TG Therapeutics in the second quarter worth about $1,211,429,000. Bank of America Corp DE bought a new position in TG Therapeutics during the second quarter valued at approximately $71,960,000. Bank of New York Mellon Corp purchased a new position in TG Therapeutics during the 2nd quarter valued at approximately $49,472,000. Dimensional Fund Advisors LP grew its holdings in TG Therapeutics by 129.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,084,855 shares of the biopharmaceutical company's stock valued at $36,029,000 after buying an additional 612,068 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in TG Therapeutics by 697.6% in the 2nd quarter. Wellington Management Group LLP now owns 478,265 shares of the biopharmaceutical company's stock worth $26,276,000 after acquiring an additional 418,300 shares during the last quarter. 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 treatments for B-cell-mediated diseases, including multiple sclerosis and B-cell malignancies. The company's research and development activities center on antibody-based therapies designed to target B cells and related immune pathways.

TG Therapeutics' principal marketed product is BRIUMVI (ublituximab-xiiy), an anti-CD20 monoclonal antibody approved in the United States for the treatment of adults with relapsing forms of multiple sclerosis, including clinically isolated syndrome, relapsing-remitting disease and active secondary progressive disease.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.