TG Therapeutics (NASDAQ:TGTX) Stock Price Down 4.5% - Here's Why

Shares of TG Therapeutics, Inc. (NASDAQ:TGTX - Get Free Report) traded down 4.5% during trading on Friday . The company traded as low as $43.42 and last traded at $43.31. 2,842,579 shares were traded during mid-day trading, a decline of 6% from the average session volume of 3,009,474 shares. The stock had previously closed at $45.37.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. HC Wainwright reaffirmed a "buy" rating and set a $55.00 price target on shares of TG Therapeutics in a report on Tuesday, March 4th. StockNews.com upgraded shares of TG Therapeutics from a "sell" rating to a "hold" rating in a research report on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, TG Therapeutics presently has an average rating of "Moderate Buy" and a consensus target price of $40.80.

TG Therapeutics Price Performance

The company has a 50 day moving average price of $38.73 and a 200-day moving average price of $33.41. The company has a quick ratio of 3.91, a current ratio of 4.59 and a debt-to-equity ratio of 1.27. The company has a market cap of $5.98 billion, a price-to-earnings ratio of -376.76 and a beta of 2.21.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.16). TG Therapeutics had a negative net margin of 5.42% and a negative return on equity of 8.32%. The firm's revenue for the quarter was up 90.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.07) EPS. As a group, equities research analysts predict that TG Therapeutics, Inc. will post 0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On TG Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Barclays PLC increased its position in TG Therapeutics by 83.9% during the 3rd quarter. Barclays PLC now owns 347,057 shares of the biopharmaceutical company's stock valued at $8,117,000 after purchasing an additional 158,323 shares during the period. Synovus Financial Corp acquired a new stake in shares of TG Therapeutics during the third quarter worth $465,000. Franklin Resources Inc. raised its stake in TG Therapeutics by 3.8% during the third quarter. Franklin Resources Inc. now owns 128,985 shares of the biopharmaceutical company's stock worth $2,945,000 after buying an additional 4,756 shares during the last quarter. Principal Financial Group Inc. raised its stake in TG Therapeutics by 1,549.4% during the third quarter. Principal Financial Group Inc. now owns 772,188 shares of the biopharmaceutical company's stock worth $18,061,000 after buying an additional 725,371 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in TG Therapeutics by 60.0% in the third quarter. JPMorgan Chase & Co. now owns 720,798 shares of the biopharmaceutical company's stock valued at $16,859,000 after buying an additional 270,286 shares during the period. 58.58% of the stock is currently owned by institutional investors.

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.