TG Therapeutics (NASDAQ:TGTX) Shares Gap Up – Here’s What Happened

TG Therapeutics, Inc. (NASDAQ:TGTX) shares gapped up prior to trading on Wednesday . The stock had previously closed at $36.64, but opened at $38.57. TG Therapeutics shares last traded at $39.92, with a volume of 419,881 shares trading hands.

Analyst Upgrades and Downgrades

TGTX has been the subject of several research analyst reports. Weiss Ratings raised TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 1st. Zacks Research raised TG Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday. Wall Street Zen downgraded TG Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $70.00 price objective on shares of TG Therapeutics in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $52.50.

TG Therapeutics Stock Up 1.1%

The stock has a market capitalization of $6.21 billion, a PE ratio of 14.18 and a beta of 1.68. The firm has a 50 day moving average of $36.88 and a two-hundred day moving average of $32.54. The company has a current ratio of 5.81, a quick ratio of 5.12 and a debt-to-equity ratio of 1.28.

TG Therapeutics (NASDAQ:TGTX) last released its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.11). The company had revenue of $204.92 million for the quarter, compared to analysts’ expectations of $200.33 million. TG Therapeutics had a return on equity of 88.73% and a net margin of 65.95%.The business’s quarterly revenue was up 69.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.03 EPS. Equities research analysts anticipate that TG Therapeutics, Inc. will post 1.31 earnings per share for the current year.

Hedge Funds Weigh In On TG Therapeutics

Several hedge funds have recently bought and sold shares of TGTX. Congress Asset Management Co. purchased a new position in TG Therapeutics during the fourth quarter worth $57,307,000. Man Group plc increased its position in TG Therapeutics by 621.5% during the third quarter. Man Group plc now owns 1,008,462 shares of the biopharmaceutical company’s stock worth $36,431,000 after buying an additional 868,697 shares in the last quarter. BNP Paribas Financial Markets increased its position in TG Therapeutics by 856.6% during the fourth quarter. BNP Paribas Financial Markets now owns 683,653 shares of the biopharmaceutical company’s stock worth $20,380,000 after buying an additional 612,189 shares in the last quarter. Dimensional Fund Advisors LP increased its position in TG Therapeutics by 129.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,084,855 shares of the biopharmaceutical company’s stock worth $36,029,000 after buying an additional 612,068 shares in the last quarter. Finally, Bank of America Corp DE increased its position in TG Therapeutics by 71.7% during the first quarter. Bank of America Corp DE now owns 1,461,302 shares of the biopharmaceutical company’s stock worth $48,544,000 after buying an additional 610,195 shares in the last quarter. Hedge funds and other institutional investors own 58.58% of the company’s stock.

TG Therapeutics Company Profile

TG Therapeutics, Inc is a clinical‐stage biopharmaceutical company headquartered in New York City that specializes in developing targeted therapies for hematological malignancies and autoimmune diseases. The company’s research strategy focuses on the modulation of B-cell biology through novel antibody and small‐molecule agents. Since its founding in 2003, TG Therapeutics has built a diversified portfolio aimed at addressing unmet medical needs in oncology and immunology.

In December 2022, TG Therapeutics achieved its first commercial milestone when ublituximab-xiiy (marketed as Briumvi® in collaboration with Biogen) received U.S.