TG Therapeutics (NASDAQ:TGTX) Trading Up 9.5% – Here’s What Happened

TG Therapeutics, Inc. (NASDAQ:TGTX) shares traded up 9.5% on Friday . The company traded as high as $39.94 and last traded at $40.57. 1,348,486 shares were traded during trading, a decline of 55% from the average session volume of 2,977,866 shares. The stock had previously closed at $37.06.

Wall Street Analysts Forecast Growth

TGTX has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on shares of TG Therapeutics from $30.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. HC Wainwright reiterated a “buy” rating and issued a $55.00 target price on shares of TG Therapeutics in a research note on Tuesday, March 4th. Finally, StockNews.com upgraded TG Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, TG Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.67.

TG Therapeutics Price Performance

The company’s 50-day simple moving average is $31.86 and its 200-day simple moving average is $29.04. 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 capitalization of $6.41 billion, a price-to-earnings ratio of -408.36 and a beta of 2.30.

TG Therapeutics (NASDAQ:TGTX) last released its quarterly earnings results on Monday, March 3rd. The biopharmaceutical company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.07. The business had revenue of $108.19 million during the quarter, compared to the consensus estimate of $100.67 million. TG Therapeutics had a negative return on equity of 8.32% and a negative net margin of 5.42%. Research analysts forecast that TG Therapeutics, Inc. will post 0.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other TG Therapeutics news, CFO Sean A. Power sold 10,021 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $28.53, for a total transaction of $285,899.13. Following the transaction, the chief financial officer now owns 660,611 shares in the company, valued at $18,847,231.83. This trade represents a 1.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 10.50% of the company’s stock.

Institutional Trading of TG Therapeutics

Several large investors have recently modified their holdings of the stock. Vermillion Wealth Management Inc. acquired a new position in TG Therapeutics in the fourth quarter valued at about $30,000. Castleark Management LLC raised its position in shares of TG Therapeutics by 25.2% in the 4th quarter. Castleark Management LLC now owns 211,370 shares of the biopharmaceutical company’s stock valued at $6,362,000 after buying an additional 42,560 shares in the last quarter. Soleus Capital Management L.P. lifted its holdings in shares of TG Therapeutics by 5.8% during the 4th quarter. Soleus Capital Management L.P. now owns 2,681,242 shares of the biopharmaceutical company’s stock worth $80,705,000 after acquiring an additional 146,702 shares during the period. Wexford Capital LP acquired a new stake in shares of TG Therapeutics during the 4th quarter worth approximately $421,000. Finally, Redwood Investments LLC increased its stake in TG Therapeutics by 0.9% in the fourth quarter. Redwood Investments LLC now owns 94,554 shares of the biopharmaceutical company’s stock valued at $2,846,000 after acquiring an additional 886 shares during the last quarter. 58.58% of the stock is 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.