TG Therapeutics (NASDAQ:TGTX) Stock Price Up 9.5% – Here’s Why

TG Therapeutics, Inc. (NASDAQ:TGTX) shares were up 9.5% on Friday . The company traded as high as $39.94 and last traded at $40.57. Approximately 1,348,486 shares changed hands during trading, a decline of 55% from the average daily volume of 2,977,866 shares. The stock had previously closed at $37.06.

Analyst Ratings Changes

TGTX has been the subject of several recent analyst reports. StockNews.com raised shares of TG Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, March 4th. JPMorgan Chase & Co. upped their price objective on TG Therapeutics from $30.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Finally, HC Wainwright reissued a “buy” rating and set a $55.00 target price on shares of TG Therapeutics in a research note on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $40.67.

TG Therapeutics Stock Performance

The firm’s 50 day simple moving average is $31.52 and its 200 day simple moving average is $28.83. The firm has a market cap of $6.41 billion, a PE ratio of -408.61 and a beta of 2.30. The company has a current ratio of 4.59, a quick ratio of 3.91 and a debt-to-equity ratio of 1.27.

TG Therapeutics (NASDAQ:TGTX) last issued its earnings results on Monday, March 3rd. The biopharmaceutical company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.07. TG Therapeutics had a negative return on equity of 8.32% and a negative net margin of 5.42%. The firm had revenue of $108.19 million for the quarter, compared to analysts’ expectations of $100.67 million. On average, research analysts forecast that TG Therapeutics, Inc. will post 0.08 EPS for the current fiscal year.

Insider Transactions at TG Therapeutics

In related news, CFO Sean A. Power sold 10,021 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $28.53, for a total value of $285,899.13. Following the sale, the chief financial officer now owns 660,611 shares in the company, valued at approximately $18,847,231.83. The trade was a 1.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 10.50% of the company’s stock.

Hedge Funds Weigh In On TG Therapeutics

Several institutional investors have recently bought and sold shares of TGTX. Vermillion Wealth Management Inc. purchased a new stake in shares of TG Therapeutics during the 4th quarter valued at about $30,000. Quadrant Capital Group LLC increased its stake in TG Therapeutics by 137.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,686 shares of the biopharmaceutical company’s stock worth $51,000 after acquiring an additional 975 shares during the last quarter. Blue Trust Inc. raised its position in TG Therapeutics by 24.5% during the fourth quarter. Blue Trust Inc. now owns 1,887 shares of the biopharmaceutical company’s stock valued at $57,000 after purchasing an additional 371 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of TG Therapeutics by 512.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,905 shares of the biopharmaceutical company’s stock valued at $60,000 after purchasing an additional 1,594 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in shares of TG Therapeutics by 460.7% in the 4th quarter. Jones Financial Companies Lllp now owns 2,114 shares of the biopharmaceutical company’s stock valued at $64,000 after purchasing an additional 1,737 shares during the last quarter. Institutional investors own 58.58% of the company’s stock.

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.