TG Therapeutics (NASDAQ:TGTX) Shares Up 6.2% - Time to Buy?

TG Therapeutics, Inc. (NASDAQ:TGTX - Get Free Report) shares shot up 6.2% during mid-day trading on Thursday . The stock traded as high as $40.09 and last traded at $39.32. 2,372,129 shares traded hands during mid-day trading, a decline of 12% from the average session volume of 2,685,305 shares. The stock had previously closed at $37.04.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TGTX. HC Wainwright restated a "buy" rating and issued a $55.00 price target on shares of TG Therapeutics in a report on Tuesday, March 4th. Wall Street Zen upgraded TG Therapeutics from a "sell" rating to a "hold" rating in a research note on Tuesday, March 4th. Two 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, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $40.80.

TG Therapeutics Price Performance

The company has a market cap of $6.36 billion, a P/E ratio of -400.56 and a beta of 1.94. The company has a fifty day moving average price of $37.21 and a two-hundred day moving average price of $34.69. The company has a debt-to-equity ratio of 1.27, a quick ratio of 3.91 and a current ratio of 4.59.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.16). The company had revenue of $120.86 million for the quarter, compared to analyst estimates of $117.07 million. TG Therapeutics had a negative net margin of 5.42% and a negative return on equity of 8.32%. The business's revenue for the quarter was up 90.4% on a year-over-year basis. During the same period last year, the company posted ($0.07) earnings per share. On average, sell-side analysts anticipate that TG Therapeutics, Inc. will post 0.08 earnings per share for the current fiscal year.

Institutional Trading of TG Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cim Investment Management Inc. bought a new position in shares of TG Therapeutics in the 1st quarter valued at about $241,000. Strs Ohio acquired a new stake in TG Therapeutics in the 1st quarter valued at about $785,000. Intech Investment Management LLC lifted its stake in TG Therapeutics by 20.5% in the 1st quarter. Intech Investment Management LLC now owns 86,527 shares of the biopharmaceutical company's stock valued at $3,412,000 after purchasing an additional 14,694 shares during the last quarter. Focus Partners Wealth grew its holdings in TG Therapeutics by 4.1% during the first quarter. Focus Partners Wealth now owns 59,017 shares of the biopharmaceutical company's stock worth $2,327,000 after purchasing an additional 2,323 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in TG Therapeutics by 5.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 287,059 shares of the biopharmaceutical company's stock worth $11,319,000 after buying an additional 14,689 shares during the last quarter. 58.58% of the stock is 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.