TG Therapeutics (NASDAQ:TGTX) Shares Down 11.8% – What’s Next?

TG Therapeutics, Inc. (NASDAQ:TGTX) fell 11.8% on Wednesday . The company traded as low as $32.33 and last traded at $31.35. 1,098,067 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 3,087,913 shares. The stock had previously closed at $35.53.

Analysts Set New Price Targets

TGTX has been the topic of a number of analyst reports. HC Wainwright reiterated a “buy” rating and set a $55.00 price objective on shares of TG Therapeutics in a research note on Tuesday, March 4th. StockNews.com raised shares of 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 five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $40.67.

TG Therapeutics Price Performance

The company has a market cap of $5.77 billion, a P/E ratio of -367.06 and a beta of 2.14. The company’s 50-day moving average price is $35.68 and its two-hundred day moving average price is $31.29. 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 announced its quarterly earnings data on Monday, March 3rd. The biopharmaceutical company reported $0.15 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $100.67 million. As a group, sell-side analysts expect that TG Therapeutics, Inc. will post 0.08 earnings per share for the current year.

Hedge Funds Weigh In On TG Therapeutics

Large investors have recently added to or reduced their stakes in the company. Arizona State Retirement System raised its holdings in shares of TG Therapeutics by 0.9% during the fourth quarter. Arizona State Retirement System now owns 42,639 shares of the biopharmaceutical company’s stock worth $1,283,000 after purchasing an additional 364 shares during the period. Blue Trust Inc. raised its stake in TG Therapeutics by 24.5% during the fourth quarter. Blue Trust Inc. now owns 1,887 shares of the biopharmaceutical company’s stock worth $57,000 after acquiring an additional 371 shares during the period. Summit Investment Advisors Inc. boosted its stake in TG Therapeutics by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 14,606 shares of the biopharmaceutical company’s stock valued at $440,000 after acquiring an additional 463 shares during the period. Brookstone Capital Management grew its holdings in shares of TG Therapeutics by 3.7% during the fourth quarter. Brookstone Capital Management now owns 17,521 shares of the biopharmaceutical company’s stock valued at $527,000 after purchasing an additional 624 shares during the last quarter. Finally, Daymark Wealth Partners LLC raised its position in shares of TG Therapeutics by 1.7% during the 4th quarter. Daymark Wealth Partners LLC now owns 41,500 shares of the biopharmaceutical company’s stock worth $1,249,000 after purchasing an additional 689 shares during the period. 58.58% of the stock is currently owned by institutional investors.

About TG Therapeutics

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.