TG Therapeutics (NASDAQ:TGTX) Stock Breaks Above 50-Day Moving Average - Time to Sell?

Key Points

• TG Therapeutics shares moved above their 50-day moving average, reaching $55.49 and last trading at $54.79, compared with a 50-day average of $54.70.
• Analyst sentiment is broadly positive: the stock has a “Moderate Buy” consensus rating from nine analysts, with an average price target of $63.00, although Bank of America maintains an “underperform” rating.
• The company reported quarterly revenue of $240.34 million, up 70.2% year over year and above estimates, but earnings of $0.05 per share missed expectations of $0.31; a director also sold 5,000 shares at an average price of $54.96.

TG Therapeutics, Inc. (NASDAQ:TGTX - Get Free Report)'s share price passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $54.70 and traded as high as $55.49. TG Therapeutics shares last traded at $54.79, with a volume of 1,187,439 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on TGTX shares. HC Wainwright reaffirmed a "buy" rating and set a $78.00 price objective on shares of TG Therapeutics in a research report on Tuesday, September 1st. Bank of America lifted their target price on TG Therapeutics from $17.00 to $20.00 and gave the company an "underperform" rating in a research report on Tuesday, July 7th. JPMorgan Chase & Co. lifted their target price on TG Therapeutics from $65.00 to $72.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. Weiss Ratings cut TG Therapeutics from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday. Finally, Zacks Research raised TG Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Tuesday, October 6th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $63.00.

TG Therapeutics Trading Up 1.1%

The firm has a market cap of $8.39 billion, a P/E ratio of 20.00, a P/E/G ratio of 2.29 and a beta of 1.80. The business's 50-day moving average is $54.70 and its two-hundred day moving average is $43.17. The company has a debt-to-equity ratio of 1.23, a current ratio of 4.27 and a quick ratio of 3.72.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported $0.05 EPS 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 for the quarter, compared to the consensus estimate of $229.77 million. During the same period last year, the firm earned $0.17 earnings per share. The company's quarterly revenue was up 70.2% compared to the same quarter last year. As a group, analysts predict that TG Therapeutics, Inc. will post 0.92 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Laurence Charney sold 5,000 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was 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. This represents a 2.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.87% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TG Therapeutics

Hedge funds have recently bought and sold shares of the company. Signaturefd LLC lifted its position in shares of TG Therapeutics by 193.5% in the third quarter. Signaturefd LLC now owns 1,092 shares of the biopharmaceutical company's stock valued at $61,000 after buying an additional 720 shares during the last quarter. Gibbs Wealth Management lifted its holdings in shares of TG Therapeutics by 7.9% during the third quarter. Gibbs Wealth Management now owns 28,072 shares of the biopharmaceutical company's stock worth $1,566,000 after buying an additional 2,056 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its stake in TG Therapeutics by 15.7% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 5,871 shares of the biopharmaceutical company's stock worth $327,000 after purchasing an additional 796 shares in the last quarter. Sterling Capital Management LLC raised its stake in TG Therapeutics by 840.1% in the 3rd quarter. Sterling Capital Management LLC now owns 4,804 shares of the biopharmaceutical company's stock worth $268,000 after purchasing an additional 4,293 shares in the last quarter. Finally, Inspire Investing LLC raised its stake in TG Therapeutics by 2,936.3% in the 3rd quarter. Inspire Investing LLC now owns 7,621 shares of the biopharmaceutical company's stock worth $425,000 after purchasing an additional 7,370 shares in the last quarter. 58.58% of the stock is currently owned by institutional investors and hedge funds.

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.

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