TG Therapeutics (NASDAQ:TGTX) Shares Up 5.2%

Shares of TG Therapeutics, Inc. (NASDAQ:TGTX) shot up 5.2% during trading on Monday . The stock traded as high as $24.97 and last traded at $24.96. 2,060,307 shares changed hands during trading, a decline of 43% from the average session volume of 3,615,897 shares. The stock had previously closed at $23.73.

Wall Street Analysts Forecast Growth

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

TG Therapeutics Trading Up 0.7 %

The company’s 50 day simple moving average is $21.84 and its 200 day simple moving average is $18.20. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of 110.22 and a beta of 2.21. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.58 and a quick ratio of 2.83.

TG Therapeutics (NASDAQ:TGTX) last posted its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.08. The business had revenue of $73.47 million during the quarter, compared to the consensus estimate of $65.92 million. TG Therapeutics had a net margin of 27.60% and a return on equity of 57.73%. The company’s quarterly revenue was up 357.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.34) earnings per share. As a group, research analysts expect that TG Therapeutics, Inc. will post 0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TG Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of TGTX. Marshall Wace LLP acquired a new position in shares of TG Therapeutics during the second quarter worth $36,501,000. Hood River Capital Management LLC acquired a new position in shares of TG Therapeutics during the first quarter worth $22,420,000. Norges Bank acquired a new position in shares of TG Therapeutics during the fourth quarter worth $18,362,000. Point72 Asset Management L.P. acquired a new position in shares of TG Therapeutics during the second quarter worth $10,423,000. Finally, Assenagon Asset Management S.A. acquired a new position in shares of TG Therapeutics during the second quarter worth $8,698,000. 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.