TG Therapeutics (NASDAQ:TGTX) Sets New 52-Week High – Here’s Why

TG Therapeutics, Inc. (NASDAQ:TGTX) shares reached a new 52-week high on Tuesday . The stock traded as high as $43.32 and last traded at $42.61, with a volume of 2055275 shares traded. The stock had previously closed at $42.99.

Analysts Set New Price Targets

TGTX has been the subject of several 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 Tuesday, March 4th. StockNews.com upgraded TG Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $40.67.

TG Therapeutics Stock Performance

The stock has a fifty day simple moving average of $33.95 and a 200-day simple moving average of $30.11. The stock has a market cap of $6.41 billion, a P/E ratio of -407.86 and a beta of 2.30. The company has a debt-to-equity ratio of 1.27, a quick ratio of 3.91 and a current ratio of 4.59.

TG Therapeutics (NASDAQ:TGTX) last announced its earnings results on Monday, March 3rd. The biopharmaceutical company reported $0.15 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $100.67 million. On average, equities analysts expect that TG Therapeutics, Inc. will post 0.08 earnings per share for the current year.

Insider Buying and Selling

In other TG Therapeutics news, CFO Sean A. Power sold 10,021 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $28.53, for a total transaction of $285,899.13. Following the sale, the chief financial officer now directly owns 660,611 shares of the company’s stock, valued at $18,847,231.83. The trade was a 1.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 10.50% of the stock is currently owned by corporate insiders.

Institutional Trading of TG Therapeutics

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

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.