TG Therapeutics (NASDAQ:TGTX) Shares Up 5.2% After Earnings Beat

TG Therapeutics, Inc. (NASDAQ:TGTX)’s stock price shot up 5.2% on Tuesday following a stronger than expected earnings report. The stock traded as high as $36.77 and last traded at $36.22. 973,114 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 2,388,404 shares. The stock had previously closed at $34.42.

The biopharmaceutical company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.07. The business had revenue of $108.19 million during the quarter, compared to analyst estimates of $100.67 million. TG Therapeutics had a negative net margin of 5.42% and a negative return on equity of 8.32%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on TGTX shares. The Goldman Sachs Group upped their target price on shares of TG Therapeutics from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. HC Wainwright reaffirmed a “buy” rating and issued a $55.00 price objective on shares of TG Therapeutics in a report on Tuesday. JPMorgan Chase & Co. increased 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. Finally, StockNews.com raised TG Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $40.67.

Insider Transactions at TG Therapeutics

In other TG Therapeutics news, CFO Sean A. Power sold 11,337 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $30.29, for a total value of $343,397.73. Following the completion of the sale, the chief financial officer now owns 670,632 shares in the company, valued at $20,313,443.28. This represents a 1.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 10.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TGTX. Private Advisor Group LLC boosted its stake in shares of TG Therapeutics by 3.9% in the third quarter. Private Advisor Group LLC now owns 14,407 shares of the biopharmaceutical company’s stock worth $337,000 after acquiring an additional 542 shares during the period. New York State Teachers Retirement System bought a new position in shares of TG Therapeutics during the third quarter worth $1,004,000. Amalgamated Bank grew its stake in TG Therapeutics by 712.0% during the third quarter. Amalgamated Bank now owns 39,528 shares of the biopharmaceutical company’s stock valued at $925,000 after acquiring an additional 34,660 shares in the last quarter. Principal Financial Group Inc. increased its holdings 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 acquiring an additional 725,371 shares during the last quarter. Finally, Los Angeles Capital Management LLC boosted its holdings in shares of TG Therapeutics by 33.7% during 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 purchasing an additional 31,124 shares during the last quarter. 58.58% of the stock is currently owned by institutional investors.

TG Therapeutics Trading Up 3.5 %

The company has a debt-to-equity ratio of 1.27, a current ratio of 4.59 and a quick ratio of 3.91. The stock has a market cap of $5.54 billion, a PE ratio of -356.16 and a beta of 2.30. The stock has a 50-day moving average price of $30.86 and a two-hundred day moving average price of $28.33.

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.