TG Therapeutics (NASDAQ:TGTX) Hits New 1-Year High Following Analyst Upgrade

TG Therapeutics, Inc. (NASDAQ:TGTX)’s stock price hit a new 52-week high on Monday after JPMorgan Chase & Co. raised their price target on the stock from $30.00 to $43.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. TG Therapeutics traded as high as $36.84 and last traded at $36.48, with a volume of 298445 shares traded. The stock had previously closed at $35.07.

A number of other brokerages have also recently weighed in on TGTX. HC Wainwright lifted their price target on TG Therapeutics from $49.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. 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 note on Wednesday, August 7th. The Goldman Sachs Group lifted their price objective 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. Finally, TD Cowen assumed coverage on TG Therapeutics in a report on Tuesday, October 29th. They set a “buy” rating and a $50.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $40.67.

Insider Buying and Selling

In related news, Director Sagar Lonial sold 5,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $30.44, for a total transaction of $152,200.00. Following the transaction, the director now owns 100,195 shares of the company’s stock, valued at approximately $3,049,935.80. The trade was a 4.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 10.50% of the stock is owned by insiders.

Institutional Trading of TG Therapeutics

A number of hedge funds have recently bought and sold shares of TGTX. NBC Securities Inc. increased its holdings in shares of TG Therapeutics by 58.9% during the 3rd quarter. NBC Securities Inc. now owns 1,309 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 485 shares during the period. Quarry LP increased its stake in TG Therapeutics by 9.1% during the second quarter. Quarry LP now owns 6,003 shares of the biopharmaceutical company’s stock valued at $107,000 after acquiring an additional 503 shares during the period. Private Advisor Group LLC increased its stake in TG Therapeutics by 3.9% during the third quarter. Private Advisor Group LLC now owns 14,407 shares of the biopharmaceutical company’s stock valued at $337,000 after acquiring an additional 542 shares during the period. Blue Trust Inc. raised its holdings in TG Therapeutics by 127.3% in the 3rd quarter. Blue Trust Inc. now owns 1,516 shares of the biopharmaceutical company’s stock valued at $35,000 after acquiring an additional 849 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of TG Therapeutics by 30.5% in the 3rd quarter. KBC Group NV now owns 4,675 shares of the biopharmaceutical company’s stock worth $109,000 after acquiring an additional 1,092 shares during the period. 58.58% of the stock is owned by institutional investors.

TG Therapeutics Price Performance

The company has a market cap of $5.39 billion, a price-to-earnings ratio of -346.07 and a beta of 2.19. The company has a current ratio of 4.59, a quick ratio of 3.91 and a debt-to-equity ratio of 1.27. The company has a fifty day moving average price of $25.81 and a two-hundred day moving average price of $21.83.

TG Therapeutics (NASDAQ:TGTX) last announced its quarterly earnings results on Monday, November 4th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). The business had revenue of $83.90 million during the quarter, compared to the consensus estimate of $81.68 million. TG Therapeutics had a negative net margin of 5.42% and a negative return on equity of 8.32%. The company’s quarterly revenue was down 49.4% compared to the same quarter last year. During the same period last year, the firm earned $0.73 EPS. As a group, equities research analysts anticipate that TG Therapeutics, Inc. will post 0.17 EPS for the current fiscal year.

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.