TG Therapeutics (NASDAQ:TGTX) Trading 8.3% Higher - Here's Why

Key Points

• TG Therapeutics shares rose 8.3% to about $57.46 in mid-day trading, although volume was roughly 90% below the stock’s average daily level.
• Analyst views remain mixed: Jefferies, JPMorgan and B. Riley maintained or issued bullish ratings with price targets of $72 to $86, while Zacks downgraded the stock to “strong sell.” The overall consensus rating is “Hold,” with a $63 price target.
• The company reported 70.2% year-over-year revenue growth to $240.34 million, beating estimates, but quarterly EPS of $0.05 missed expectations of $0.31. Institutional investors own 58.58% of the stock, while insiders own 8.87%.

TG Therapeutics, Inc. (NASDAQ:TGTX - Get Free Report)'s stock price rose 8.3% during trading on Wednesday . The stock traded as high as $56.33 and last traded at $57.4550. 211,312 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 2,163,255 shares. The stock had previously closed at $53.04.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TGTX. Jefferies Financial Group restated a "buy" rating and issued a $83.00 target price on shares of TG Therapeutics in a research report on Monday, June 22nd. JPMorgan Chase & Co. increased their price target on TG Therapeutics from $65.00 to $72.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Zacks Research downgraded TG Therapeutics from a "hold" rating to a "strong sell" rating in a report on Monday, September 7th. Weiss Ratings restated a "hold (c+)" rating on shares of TG Therapeutics in a research report on Wednesday, July 29th. Finally, B. Riley Financial upped 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. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $63.00.

TG Therapeutics Stock Performance

The firm has a market capitalization of $8.57 billion, a P/E ratio of 20.42, a price-to-earnings-growth ratio of 2.31 and a beta of 1.67. The company has a 50-day moving average of $53.51 and a 200-day moving average of $44.10. 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 issued 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 net margin of 55.22% and a return on equity of 73.49%. The company had revenue of $240.34 million during the quarter, compared to analyst estimates of $229.77 million. During the same period in the previous year, the company posted $0.17 EPS. The company's quarterly revenue was up 70.2% on a year-over-year basis. On average, equities analysts anticipate that TG Therapeutics, Inc. will post 0.92 earnings per share for the current fiscal year.

Insider Buying and Selling at TG Therapeutics

In other TG Therapeutics news, Director Laurence Charney sold 5,000 shares of the stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $54.96, for a total transaction of $274,800.00. Following the completion of the sale, the director directly owned 168,640 shares in the company, valued at approximately $9,268,454.40. This trade represents a 2.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 8.87% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TG Therapeutics

Several institutional investors have recently added to or reduced their stakes in TGTX. Tidal Investments LLC bought a new stake in shares of TG Therapeutics during the second quarter worth about $1,351,000. Gemmer Asset Management LLC bought a new position in TG Therapeutics in the 2nd quarter valued at about $217,000. Engineers Gate Manager LP acquired a new position in TG Therapeutics during the 2nd quarter valued at about $589,000. NewEdge Advisors LLC increased its holdings in TG Therapeutics by 15.3% during the 2nd quarter. NewEdge Advisors LLC now owns 10,103 shares of the biopharmaceutical company's stock worth $555,000 after purchasing an additional 1,343 shares in the last quarter. Finally, IFP Advisors Inc raised its stake in shares of TG Therapeutics by 1.3% in the second quarter. IFP Advisors Inc now owns 209,318 shares of the biopharmaceutical company's stock worth $11,500,000 after purchasing an additional 2,780 shares during the last quarter. 58.58% of the stock is 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 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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