TG Therapeutics (NASDAQ:TGTX) Sees Large Volume Increase on Better-Than-Expected Earnings

TG Therapeutics, Inc. (NASDAQ:TGTX) saw unusually-high trading volume on Monday following a better than expected earnings announcement. Approximately 3,051,440 shares were traded during trading, an increase of 42% from the previous session’s volume of 2,147,864 shares.The stock last traded at $35.04 and had previously closed at $30.09.

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

Wall Street Analyst Weigh In

TGTX has been the topic of a number of research analyst reports. HC Wainwright reissued a “buy” rating and issued a $55.00 price target on shares of TG Therapeutics in a report on Wednesday, January 15th. JPMorgan Chase & Co. boosted their target price on shares of TG Therapeutics from $30.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. The Goldman Sachs Group raised 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. Finally, StockNews.com downgraded shares of TG Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $40.67.

Insider Activity at TG Therapeutics

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

Hedge Funds Weigh In On TG Therapeutics

Large investors have recently made changes to their positions in the company. Bleakley Financial Group LLC bought a new position in TG Therapeutics in the 4th quarter valued at $245,000. Castellan Group purchased a new position in shares of TG Therapeutics in the 4th quarter valued at $8,539,000. Oppenheimer & Co. Inc. bought a new position in shares of TG Therapeutics in the 3rd quarter worth $759,000. Segall Bryant & Hamill LLC purchased a new stake in shares of TG Therapeutics during the 3rd quarter worth $1,225,000. Finally, Barclays PLC boosted its position in TG Therapeutics by 83.9% during the third quarter. Barclays PLC now owns 347,057 shares of the biopharmaceutical company’s stock valued at $8,117,000 after purchasing an additional 158,323 shares in the last quarter. 58.58% of the stock is owned by hedge funds and other institutional investors.

TG Therapeutics Trading Up 14.4 %

The firm has a market capitalization of $5.36 billion, a PE ratio of -344.17 and a beta of 2.26. The company has a quick ratio of 3.91, a current ratio of 4.59 and a debt-to-equity ratio of 1.27. The company’s 50-day simple moving average is $30.79 and its 200 day simple moving average is $28.24.

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.