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

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective 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. StockNews.com raised TG Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, March 4th. Finally, HC Wainwright reissued a “buy” rating and issued a $55.00 price objective on shares of TG Therapeutics in a report on Tuesday, March 4th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $40.67.

TG Therapeutics Stock Down 0.9 %

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 firm has a market capitalization of $6.69 billion, a P/E ratio of -426.06 and a beta of 2.30. The firm’s fifty day moving average price is $33.47 and its 200-day moving average price is $29.89.

TG Therapeutics (NASDAQ:TGTX) last issued its quarterly 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 firm had revenue of $108.19 million during the quarter, compared to analyst estimates of $100.67 million. As a group, equities research analysts forecast that TG Therapeutics, Inc. will post 0.08 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Sean A. Power sold 11,337 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $30.29, for a total transaction of $343,397.73. Following the completion of the transaction, the chief financial officer now owns 670,632 shares in the company, valued at approximately $20,313,443.28. This trade represents a 1.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 10.50% of the stock is owned by corporate insiders.

Institutional Trading of TG Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vermillion Wealth Management Inc. bought a new position in shares of TG Therapeutics in the fourth quarter valued at $30,000. Quadrant Capital Group LLC grew its holdings in shares of TG Therapeutics by 137.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,686 shares of the biopharmaceutical company’s stock worth $51,000 after acquiring an additional 975 shares during the last quarter. Blue Trust Inc. raised its position in shares of TG Therapeutics by 24.5% during the fourth quarter. Blue Trust Inc. now owns 1,887 shares of the biopharmaceutical company’s stock worth $57,000 after purchasing an additional 371 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of TG Therapeutics by 512.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,905 shares of the biopharmaceutical company’s stock valued at $60,000 after purchasing an additional 1,594 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its position in shares of TG Therapeutics by 460.7% in the 4th quarter. Jones Financial Companies Lllp now owns 2,114 shares of the biopharmaceutical company’s stock valued at $64,000 after purchasing an additional 1,737 shares during the period. 58.58% of the stock is owned by institutional investors and hedge funds.

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.