TG Therapeutics (NASDAQ:TGTX) Trading 10.1% Higher - Should You Buy?

Key Points

• TG Therapeutics shares surged 10.1% to $55.69 in mid-day trading, although volume was 64% below the stock’s average daily level.
• Analyst sentiment is mixed: five analysts rate the stock a Buy, three recommend Hold and one rates it Sell. The average price target is $63, with targets ranging from $20 to $86.
• The company reported quarterly revenue of $240.34 million, up 70.2% year over year and above estimates, but earnings per share of $0.05 missed consensus expectations of $0.31.

Shares of TG Therapeutics, Inc. (NASDAQ:TGTX - Get Free Report) were up 10.1% during mid-day trading on Friday . The stock traded as high as $55.69 and last traded at $55.69. 783,540 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 2,197,085 shares. The stock had previously closed at $50.56.

Analyst Ratings Changes

Several brokerages recently issued reports on TGTX. HC Wainwright reiterated a "buy" rating and issued a $78.00 price objective on shares of TG Therapeutics in a report on Tuesday, August 4th. B. Riley Financial boosted their price target on shares of TG Therapeutics from $55.00 to $86.00 and gave the company a "buy" rating in a research note on Monday, July 27th. Zacks Research raised TG Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Monday, June 1st. Bank of America boosted their price target on shares of TG Therapeutics from $17.00 to $20.00 and gave the stock an "underperform" rating in a research note on Tuesday, July 7th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of TG Therapeutics in a report on Wednesday, July 29th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, TG Therapeutics has an average rating of "Hold" and an average target price of $63.00.

TG Therapeutics Trading Up 9.0%

The company has a debt-to-equity ratio of 1.23, a current ratio of 4.27 and a quick ratio of 3.72. The firm has a market capitalization of $8.43 billion, a price-to-earnings ratio of 20.11, a price-to-earnings-growth ratio of 2.21 and a beta of 1.62. The business's 50 day moving average price is $52.93 and its 200-day moving average price is $40.81.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.31 by ($0.26). The business had revenue of $240.34 million for the quarter, compared to analyst estimates of $229.77 million. TG Therapeutics had a return on equity of 73.49% and a net margin of 55.22%.The company's revenue was up 70.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.17 EPS. Equities analysts forecast that TG Therapeutics, Inc. will post 0.92 EPS for the current fiscal year.

Institutional Investors Weigh In On TG Therapeutics

Large investors have recently added to or reduced their stakes in the business. Sigma Planning Corp acquired a new stake in shares of TG Therapeutics in the second quarter valued at approximately $845,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of TG Therapeutics by 5.9% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 249,256 shares of the biopharmaceutical company's stock worth $13,694,000 after acquiring an additional 13,779 shares during the last quarter. Van ECK Associates Corp acquired a new position in shares of TG Therapeutics in the 2nd quarter valued at $432,000. Wellington Management Group LLP boosted its holdings in TG Therapeutics by 697.6% in the second quarter. Wellington Management Group LLP now owns 478,265 shares of the biopharmaceutical company's stock valued at $26,276,000 after acquiring an additional 418,300 shares during the last quarter. Finally, Empowered Funds LLC acquired a new position in shares of TG Therapeutics in the 2nd quarter valued at about $291,000. 58.58% of the stock is owned by institutional investors and hedge funds.

TG Therapeutics Company Profile

TG Therapeutics, Inc is a clinical‐stage biopharmaceutical company headquartered in New York City that specializes in developing targeted therapies for hematological malignancies and autoimmune diseases. The company's research strategy focuses on the modulation of B-cell biology through novel antibody and small‐molecule agents. Since its founding in 2003, TG Therapeutics has built a diversified portfolio aimed at addressing unmet medical needs in oncology and immunology.

In December 2022, TG Therapeutics achieved its first commercial milestone when ublituximab-xiiy (marketed as Briumvi® in collaboration with Biogen) received U.S.

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