TG Therapeutics (NASDAQ:TGTX) Shares Gap Down – Here’s Why

TG Therapeutics, Inc. (NASDAQ:TGTX)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $26.90, but opened at $24.39. TG Therapeutics shares last traded at $24.10, with a volume of 1,692,264 shares.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. B. Riley raised their target price on shares of TG Therapeutics from $29.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. The Goldman Sachs Group boosted their price target on TG Therapeutics from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. HC Wainwright reaffirmed a “buy” rating and set a $49.00 price objective on shares of TG Therapeutics in a research report on Wednesday, September 18th. Finally, TD Cowen initiated coverage on shares of TG Therapeutics in a report on Tuesday, October 29th. They issued a “buy” rating and a $50.00 target price on the stock. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, TG Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $36.33.

TG Therapeutics Trading Down 8.1 %

The stock has a market cap of $3.83 billion, a P/E ratio of 39.11 and a beta of 2.19. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.83 and a current ratio of 3.58. The firm’s fifty day simple moving average is $23.51 and its 200-day simple moving average is $20.05.

TG Therapeutics (NASDAQ:TGTX) last posted its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.08. TG Therapeutics had a return on equity of 57.73% and a net margin of 27.60%. The firm had revenue of $73.47 million during the quarter, compared to analyst estimates of $65.92 million. During the same period last year, the company posted ($0.34) EPS. The business’s quarterly revenue was up 357.0% on a year-over-year basis. Equities research analysts expect that TG Therapeutics, Inc. will post 0.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of TGTX. Opaleye Management Inc. lifted its holdings in shares of TG Therapeutics by 2.9% in the 1st quarter. Opaleye Management Inc. now owns 2,280,000 shares of the biopharmaceutical company’s stock worth $34,679,000 after purchasing an additional 65,000 shares in the last quarter. Marshall Wace LLP bought a new stake in TG Therapeutics during the 2nd quarter worth approximately $36,501,000. Hood River Capital Management LLC raised its stake in shares of TG Therapeutics by 6.7% in the second quarter. Hood River Capital Management LLC now owns 1,572,929 shares of the biopharmaceutical company’s stock worth $27,982,000 after purchasing an additional 98,892 shares during the last quarter. Principal Financial Group Inc. lifted its holdings 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 purchasing an additional 725,371 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of TG Therapeutics during the second quarter valued at approximately $10,423,000. 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.