TG Therapeutics (NASDAQ:TGTX) Shares Gap Up to $25.08

TG Therapeutics, Inc. (NASDAQ:TGTX) shares gapped up before the market opened on Wednesday . The stock had previously closed at $25.08, but opened at $26.25. TG Therapeutics shares last traded at $25.75, with a volume of 445,632 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on TGTX shares. B. Riley lifted their target price on shares of TG Therapeutics from $29.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. HC Wainwright reaffirmed a “buy” rating and issued a $49.00 target price on shares of TG Therapeutics in a research report on Tuesday, August 6th. Finally, The Goldman Sachs Group boosted their price target on TG Therapeutics from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, TG Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $31.83.

TG Therapeutics Price Performance

The company has a quick ratio of 2.83, a current ratio of 3.58 and a debt-to-equity ratio of 0.58. The company has a 50 day moving average of $21.73 and a 200-day moving average of $18.15. The stock has a market capitalization of $3.97 billion, a P/E ratio of 109.04 and a beta of 2.21.

TG Therapeutics (NASDAQ:TGTX) last announced its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.08. TG Therapeutics had a net margin of 27.60% and a return on equity of 57.73%. The business had revenue of $73.47 million during the quarter, compared to the consensus estimate of $65.92 million. During the same quarter in the prior year, the firm earned ($0.34) EPS. The company’s revenue for the quarter was up 357.0% compared to the same quarter last year. Sell-side analysts predict that TG Therapeutics, Inc. will post 0.13 EPS for the current year.

Hedge Funds Weigh In On TG Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Point72 Asset Management L.P. acquired a new stake in shares of TG Therapeutics in the 2nd quarter worth about $10,423,000. Quarry LP grew its position in TG Therapeutics by 9.1% in the 2nd quarter. Quarry LP now owns 6,003 shares of the biopharmaceutical company’s stock worth $107,000 after purchasing an additional 503 shares during the last quarter. Creative Planning increased its stake in shares of TG Therapeutics by 34.7% in the second quarter. Creative Planning now owns 46,839 shares of the biopharmaceutical company’s stock valued at $833,000 after purchasing an additional 12,076 shares during the period. Algert Global LLC raised its holdings in shares of TG Therapeutics by 193.8% during the second quarter. Algert Global LLC now owns 147,218 shares of the biopharmaceutical company’s stock valued at $2,619,000 after buying an additional 97,118 shares during the last quarter. Finally, Lighthouse Investment Partners LLC acquired a new position in shares of TG Therapeutics during the second quarter worth approximately $1,976,000. Institutional investors and hedge funds own 58.58% of the company’s stock.

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.