TG Therapeutics (NASDAQ:TGTX) Shares Gap Up - Still a Buy?

Key Points

• TG Therapeutics' stock gapped up from $29.73 to $30.83 before trading at $31.82, indicating a strong market interest with a volume of 673,899 shares.
• Goldman Sachs upgraded TG Therapeutics to a "hold" rating with a target price of $37.00, while analysts have an average target price of $46.25, reflecting a consensus of "Moderate Buy."
• The company's recent quarterly earnings reported a loss with $0.17 EPS, missing estimates and showing significant year-over-year revenue growth of 92.1%.

TG Therapeutics, Inc. (NASDAQ:TGTX - Get Free Report)'s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $29.73, but opened at $30.83. TG Therapeutics shares last traded at $31.82, with a volume of 673,899 shares changing hands.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group upgraded shares of TG Therapeutics to a "hold" rating and set a $37.00 target price for the company in a research note on Thursday, July 10th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, TG Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $46.25.

TG Therapeutics Trading Up 6.1%

The company has a market cap of $5.01 billion, a price-to-earnings ratio of 85.29 and a beta of 1.88. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.96 and a current ratio of 3.86. The business's 50 day moving average price is $33.13 and its 200-day moving average price is $35.57.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.32 by ($0.15). TG Therapeutics had a net margin of 13.31% and a return on equity of 26.05%. The business had revenue of $141.15 million during the quarter, compared to analyst estimates of $147.76 million. During the same quarter in the prior year, the company posted $0.04 EPS. The company's quarterly revenue was up 92.1% compared to the same quarter last year. TG Therapeutics has set its FY 2025 guidance at EPS. On average, research analysts forecast that TG Therapeutics, Inc. will post 0.08 EPS for the current year.

Insider Activity

In related news, Director Yann Echelard sold 10,000 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $36.94, for a total transaction of $369,400.00. Following the completion of the sale, the director owned 228,816 shares in the company, valued at $8,452,463.04. This trade represents a 4.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 10.64% of the stock is owned by company insiders.

Institutional Investors Weigh In On TG Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. CWM LLC grew its holdings in TG Therapeutics by 16.2% during the 1st quarter. CWM LLC now owns 2,085 shares of the biopharmaceutical company's stock worth $82,000 after acquiring an additional 290 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in shares of TG Therapeutics by 1.0% in the 2nd quarter. Teacher Retirement System of Texas now owns 40,212 shares of the biopharmaceutical company's stock valued at $1,447,000 after purchasing an additional 417 shares during the last quarter. Golden State Wealth Management LLC boosted its stake in shares of TG Therapeutics by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 866 shares of the biopharmaceutical company's stock valued at $34,000 after purchasing an additional 433 shares during the last quarter. Kingswood Wealth Advisors LLC boosted its stake in shares of TG Therapeutics by 6.4% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 8,284 shares of the biopharmaceutical company's stock valued at $298,000 after purchasing an additional 500 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in shares of TG Therapeutics by 0.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 63,400 shares of the biopharmaceutical company's stock valued at $2,282,000 after purchasing an additional 500 shares during the last quarter. Institutional investors own 58.58% of the company's stock.

About TG Therapeutics

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.

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