TG Therapeutics (NASDAQ:TGTX) Shares Down 11.8% - Here's Why

Shares of TG Therapeutics, Inc. (NASDAQ:TGTX - Get Free Report) traded down 11.8% on Wednesday . The company traded as low as $32.33 and last traded at $31.35. 1,098,067 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 3,087,913 shares. The stock had previously closed at $35.53.

Analyst Ratings Changes

TGTX has been the subject of a number of research reports. StockNews.com raised TG Therapeutics from a "sell" rating to a "hold" rating in a report on Tuesday, March 4th. HC Wainwright reissued a "buy" rating and set a $55.00 price target on shares of TG Therapeutics in a research report on Tuesday, March 4th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $40.67.

TG Therapeutics Stock Performance

The company has a market capitalization of $6.03 billion, a PE ratio of -384.06 and a beta of 2.14. The firm has a 50-day moving average of $35.76 and a two-hundred day moving average of $31.44. The company has a quick ratio of 3.91, a current ratio of 4.59 and a debt-to-equity ratio of 1.27.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last posted its earnings results on Monday, March 3rd. The biopharmaceutical company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.07. TG Therapeutics had a negative net margin of 5.42% and a negative return on equity of 8.32%. The firm had revenue of $108.19 million during the quarter, compared to analyst estimates of $100.67 million. Research analysts anticipate that TG Therapeutics, Inc. will post 0.08 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in TG Therapeutics by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 15,596,480 shares of the biopharmaceutical company's stock worth $469,454,000 after purchasing an additional 209,190 shares during the period. Soleus Capital Management L.P. increased its position in shares of TG Therapeutics by 5.8% in the fourth quarter. Soleus Capital Management L.P. now owns 2,681,242 shares of the biopharmaceutical company's stock valued at $80,705,000 after buying an additional 146,702 shares in the last quarter. Clearbridge Investments LLC acquired a new position in shares of TG Therapeutics during the 4th quarter worth approximately $55,237,000. Northern Trust Corp lifted its position in shares of TG Therapeutics by 8.6% during the 4th quarter. Northern Trust Corp now owns 1,532,929 shares of the biopharmaceutical company's stock valued at $46,141,000 after buying an additional 120,785 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in TG Therapeutics by 7.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,269,513 shares of the biopharmaceutical company's stock valued at $38,212,000 after acquiring an additional 84,904 shares during the period. Institutional investors and hedge funds own 58.58% of the company's stock.

TG Therapeutics Company Profile

TG Therapeutics, Inc, a commercial stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel treatments for B-cell mediated diseases in the United States and internationally. It provides BRIUMVI, an anti-CD20 monoclonal antibody for the treatment of adult patients with relapsing forms of multiple sclerosis (RMS), including clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease in adults.