TG Therapeutics (NASDAQ:TGTX) Stock Price Up 5.2% Following Earnings Beat

TG Therapeutics, Inc. (NASDAQ:TGTX)’s stock price shot up 5.2% on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $36.77 and last traded at $36.22. 973,114 shares were traded 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 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.07. TG Therapeutics had a negative net margin of 5.42% and a negative return on equity of 8.32%. The company had revenue of $108.19 million for the quarter, compared to analyst estimates of $100.67 million.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on TGTX shares. HC Wainwright reiterated a “buy” rating and issued a $55.00 target price on shares of TG Therapeutics in a research note on Tuesday. The Goldman Sachs Group increased 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. JPMorgan Chase & Co. lifted their target price on shares of TG Therapeutics from $30.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Finally, StockNews.com downgraded shares of TG Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $40.67.

Insiders Place Their Bets

In other news, CFO Sean A. Power sold 10,021 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $28.53, for a total value of $285,899.13. Following the completion of the transaction, the chief financial officer now directly owns 660,611 shares in the company, valued at approximately $18,847,231.83. This represents a 1.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 10.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On TG Therapeutics

A number of institutional investors have recently added to or reduced their stakes in TGTX. State Street Corp increased its position in shares of TG Therapeutics by 35.8% during the third quarter. State Street Corp now owns 9,094,158 shares of the biopharmaceutical company’s stock worth $212,712,000 after acquiring an additional 2,398,015 shares during the last quarter. Clearbridge Investments LLC acquired a new stake in TG Therapeutics during the 4th quarter valued at approximately $55,237,000. Principal Financial Group Inc. increased its holdings in TG Therapeutics by 1,549.4% during the 3rd quarter. Principal Financial Group Inc. now owns 772,188 shares of the biopharmaceutical company’s stock worth $18,061,000 after purchasing an additional 725,371 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of TG Therapeutics in the 4th quarter valued at approximately $14,508,000. Finally, Braun Stacey Associates Inc. purchased a new position in shares of TG Therapeutics during the 4th quarter valued at approximately $13,328,000. Institutional investors and hedge funds own 58.58% of the company’s stock.

TG Therapeutics Stock Performance

The company has a debt-to-equity ratio of 1.27, a quick ratio of 3.91 and a current ratio of 4.59. The company has a 50 day moving average price of $30.79 and a 200 day moving average price of $28.24. The company has a market capitalization of $5.67 billion, a PE ratio of -364.27 and a beta of 2.30.

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.