TG Therapeutics (NASDAQ:TGTX) Sets New 12-Month High – What’s Next?

Shares of TG Therapeutics, Inc. (NASDAQ:TGTX) hit a new 52-week high during trading on Tuesday . The stock traded as high as $40.31 and last traded at $39.23, with a volume of 4876845 shares changing hands. The stock had previously closed at $38.44.

Wall Street Analysts Forecast Growth

Several analysts recently commented on TGTX shares. StockNews.com upgraded TG Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, March 4th. HC Wainwright reiterated a “buy” rating and issued a $55.00 target price on shares of TG Therapeutics in a report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. upped their target price on TG Therapeutics from $30.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $40.67.

TG Therapeutics Price Performance

The stock has a market capitalization of $5.85 billion, a P/E ratio of -372.26 and a beta of 2.30. The business has a fifty day simple moving average of $31.52 and a 200-day simple moving average of $28.83. 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) last posted its quarterly earnings results on Monday, March 3rd. The biopharmaceutical company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.07. The firm had revenue of $108.19 million for the quarter, compared to analysts’ expectations of $100.67 million. TG Therapeutics had a negative return on equity of 8.32% and a negative net margin of 5.42%. Sell-side analysts expect that TG Therapeutics, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Activity at TG Therapeutics

In related news, CFO Sean A. Power sold 10,021 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $28.53, for a total value of $285,899.13. Following the completion of the sale, the chief financial officer now directly owns 660,611 shares of the company’s stock, valued at approximately $18,847,231.83. This represents a 1.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 10.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On TG Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of TGTX. Amalgamated Bank raised its position in TG Therapeutics by 712.0% in the 3rd quarter. Amalgamated Bank now owns 39,528 shares of the biopharmaceutical company’s stock valued at $925,000 after buying an additional 34,660 shares during the last quarter. Principal Financial Group Inc. raised its position in TG Therapeutics by 1,549.4% in the 3rd quarter. Principal Financial Group Inc. now owns 772,188 shares of the biopharmaceutical company’s stock valued at $18,061,000 after buying an additional 725,371 shares during the last quarter. Los Angeles Capital Management LLC raised its position in TG Therapeutics by 33.7% in the 3rd quarter. Los Angeles Capital Management LLC now owns 123,401 shares of the biopharmaceutical company’s stock valued at $2,886,000 after buying an additional 31,124 shares during the last quarter. Entropy Technologies LP purchased a new stake in TG Therapeutics in the 3rd quarter valued at $730,000. Finally, Victory Capital Management Inc. increased its position in shares of TG Therapeutics by 24.7% during the 3rd quarter. Victory Capital Management Inc. now owns 32,679 shares of the biopharmaceutical company’s stock valued at $764,000 after purchasing an additional 6,467 shares during the last quarter. 58.58% of the stock is owned by hedge funds and other 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.