TG Therapeutics (NASDAQ:TGTX) Shares Gap Up – Still a Buy?

TG Therapeutics, Inc. (NASDAQ:TGTX) shares gapped up before the market opened on Wednesday . The stock had previously closed at $36.64, but opened at $38.57. TG Therapeutics shares last traded at $39.92, with a volume of 419,881 shares traded.

Analyst Upgrades and Downgrades

TGTX has been the subject of a number of recent analyst reports. Zacks Research raised TG Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday. HC Wainwright reissued a “buy” rating and set a $70.00 price objective on shares of TG Therapeutics in a research note on Wednesday, May 27th. Weiss Ratings upgraded shares of TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. Finally, Wall Street Zen lowered shares of TG Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, TG Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $52.50.

TG Therapeutics Trading Up 9.1%

The company has a quick ratio of 5.12, a current ratio of 5.81 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $6.12 billion, a P/E ratio of 13.97 and a beta of 1.68. The company has a fifty day simple moving average of $36.35 and a two-hundred day simple moving average of $32.37.

TG Therapeutics (NASDAQ:TGTX) last announced its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.11). The business had revenue of $204.92 million during the quarter, compared to the consensus estimate of $200.33 million. TG Therapeutics had a return on equity of 88.73% and a net margin of 65.95%.The firm’s revenue was up 69.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.03 earnings per share. On average, sell-side analysts expect that TG Therapeutics, Inc. will post 1.31 earnings per share for the current year.

Institutional Trading of TG Therapeutics

A number of large investors have recently bought and sold shares of TGTX. Congress Asset Management Co. bought a new position in TG Therapeutics in the fourth quarter valued at approximately $57,307,000. Nordea Investment Management AB bought a new stake in shares of TG Therapeutics during the fourth quarter worth $2,356,000. Penn Capital Management Company LLC raised its holdings in shares of TG Therapeutics by 17.6% during the third quarter. Penn Capital Management Company LLC now owns 521,260 shares of the biopharmaceutical company’s stock worth $18,877,000 after acquiring an additional 77,895 shares during the period. Public Sector Pension Investment Board raised its holdings in shares of TG Therapeutics by 14.5% during the third quarter. Public Sector Pension Investment Board now owns 529,271 shares of the biopharmaceutical company’s stock worth $19,120,000 after acquiring an additional 66,911 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in TG Therapeutics by 56.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 227,934 shares of the biopharmaceutical company’s stock valued at $8,234,000 after acquiring an additional 81,907 shares in the last quarter. 58.58% of the stock is owned by institutional investors.

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.