TG Therapeutics (NASDAQ:TGTX) Trading Down 5.4%

TG Therapeutics, Inc. (NASDAQ:TGTX)’s stock price fell 5.4% during mid-day trading on Friday . The stock traded as low as $23.84 and last traded at $23.92. 1,236,170 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 3,625,487 shares. The stock had previously closed at $25.28.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $49.00 price objective on shares of TG Therapeutics in a report on Wednesday. The Goldman Sachs Group raised their target price on TG Therapeutics from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, B. Riley boosted their price target on shares of TG Therapeutics from $29.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.83.

TG Therapeutics Price Performance

The company has a debt-to-equity ratio of 0.58, a current ratio of 3.58 and a quick ratio of 2.83. The firm has a market cap of $3.72 billion, a price-to-earnings ratio of 104.22 and a beta of 2.21. The stock’s fifty day moving average price is $22.01 and its 200-day moving average price is $18.30.

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

Institutional Trading of TG Therapeutics

Several institutional investors have recently made changes to their positions in TGTX. Vanguard Group Inc. lifted its position in TG Therapeutics by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 13,670,944 shares of the biopharmaceutical company’s stock worth $233,500,000 after buying an additional 199,770 shares in the last quarter. Wellington Management Group LLP boosted its position in TG Therapeutics by 1.4% during the fourth quarter. Wellington Management Group LLP now owns 3,139,764 shares of the biopharmaceutical company’s stock valued at $53,627,000 after purchasing an additional 43,290 shares during the last quarter. Opaleye Management Inc. grew its stake in TG Therapeutics by 2.9% in the first quarter. Opaleye Management Inc. now owns 2,280,000 shares of the biopharmaceutical company’s stock valued at $34,679,000 after purchasing an additional 65,000 shares in the last quarter. Marshall Wace LLP acquired a new position in TG Therapeutics in the 2nd quarter worth about $36,501,000. Finally, Hood River Capital Management LLC raised its stake in shares of TG Therapeutics by 6.7% during the 2nd quarter. Hood River Capital Management LLC now owns 1,572,929 shares of the biopharmaceutical company’s stock worth $27,982,000 after purchasing an additional 98,892 shares in the last quarter. 58.58% of the stock is currently owned by institutional investors and hedge funds.

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.