TG Therapeutics Target of Unusually Large Options Trading (NASDAQ:TGTX)

Key Points

• Unusually high options activity: Investors purchased 5,368 TG Therapeutics call options, 73% above the typical daily volume of 3,103 contracts.
• Institutional ownership remains significant: Several funds recently increased their TGTX positions, with institutional investors collectively owning 58.58% of the company.
• Shares surged while analyst views remained mixed: TGTX rose 11.8% to $56.51, but analysts’ consensus rating was “Hold” with a $63.00 price target. The company exceeded revenue expectations in its latest quarter, though earnings per share fell short of estimates.

TG Therapeutics, Inc. (NASDAQ:TGTX - Get Free Report) was the target of unusually large options trading activity on Friday. Stock investors bought 5,368 call options on the company. This is an increase of 73% compared to the typical daily volume of 3,103 call options.

Institutional Trading of TG Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of TGTX. Danske Bank A S acquired a new stake in shares of TG Therapeutics during the third quarter worth about $25,000. EverSource Wealth Advisors LLC increased its position in TG Therapeutics by 51.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the biopharmaceutical company's stock valued at $35,000 after acquiring an additional 365 shares during the period. Hantz Financial Services Inc. raised its stake in TG Therapeutics by 82.7% during the 4th quarter. Hantz Financial Services Inc. now owns 1,237 shares of the biopharmaceutical company's stock valued at $37,000 after acquiring an additional 560 shares during the last quarter. Truvestments Capital LLC raised its stake in shares of TG Therapeutics by 172.4% during the 4th quarter. Truvestments Capital LLC now owns 1,621 shares of the biopharmaceutical company's stock worth $48,000 after buying an additional 1,026 shares during the last quarter. Finally, Kemnay Advisory Services Inc. purchased a new stake in shares of TG Therapeutics in the 4th quarter worth about $52,000. Hedge funds and other institutional investors own 58.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TGTX. Zacks Research raised TG Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Monday, June 1st. HC Wainwright reissued a "buy" rating and set a $78.00 price objective on shares of TG Therapeutics in a report on Tuesday, August 4th. JPMorgan Chase & Co. lifted their target price on TG Therapeutics from $65.00 to $72.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Bank of America increased their price target on TG Therapeutics from $17.00 to $20.00 and gave the stock an "underperform" rating in a research report on Tuesday, July 7th. Finally, B. Riley Financial raised their price target on shares of TG Therapeutics from $55.00 to $86.00 and gave the company a "buy" rating in a research report on Monday, July 27th. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, TG Therapeutics currently has a consensus rating of "Hold" and a consensus price target of $63.00.

TG Therapeutics Trading Up 11.8%

NASDAQ:TGTX traded up $5.95 on Friday, reaching $56.51. The company's stock had a trading volume of 2,057,522 shares, compared to its average volume of 2,205,747. The stock has a 50 day moving average price of $52.93 and a 200 day moving average price of $40.81. TG Therapeutics has a 12-month low of $26.76 and a 12-month high of $59.30. The company has a quick ratio of 3.72, a current ratio of 4.27 and a debt-to-equity ratio of 1.23. The firm has a market cap of $8.65 billion, a price-to-earnings ratio of 20.62, a price-to-earnings-growth ratio of 2.21 and a beta of 1.62.

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

About TG Therapeutics

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source