TG Therapeutics (NASDAQ:TGTX) Shares Up 9.8% – Here’s What Happened

TG Therapeutics, Inc. (NASDAQ:TGTX) rose 9.8% on Wednesday . The company traded as high as $39.29 and last traded at $41.46. Approximately 499,481 shares changed hands during trading, a decline of 84% from the average daily volume of 3,064,185 shares. The stock had previously closed at $37.75.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on TGTX shares. StockNews.com upgraded TG Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, March 4th. HC Wainwright restated a “buy” rating and issued a $55.00 price target on shares of TG Therapeutics in a research note on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, TG Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $40.67.

TG Therapeutics Stock Up 6.0 %

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 firm has a market capitalization of $6.29 billion, a PE ratio of -400.16 and a beta of 2.30. The company has a fifty day moving average price of $34.73 and a 200-day moving average price of $30.60.

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 the consensus estimate of $0.08 by $0.07. The firm had revenue of $108.19 million for the quarter, compared to analysts’ expectations of $100.67 million. TG Therapeutics had a negative net margin of 5.42% and a negative return on equity of 8.32%. As a group, analysts expect that TG Therapeutics, Inc. will post 0.08 earnings per share for the current year.

Insider Activity

In other TG Therapeutics news, CFO Sean A. Power sold 11,337 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $30.29, for a total value of $343,397.73. Following the sale, the chief financial officer now owns 670,632 shares in the company, valued at $20,313,443.28. This trade represents a 1.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 10.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TGTX. Charles Schwab Investment Management Inc. grew its position in shares of TG Therapeutics by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,184,609 shares of the biopharmaceutical company’s stock worth $27,708,000 after buying an additional 7,939 shares in the last quarter. Citigroup Inc. raised its holdings in shares of TG Therapeutics by 125.7% in the 3rd quarter. Citigroup Inc. now owns 168,277 shares of the biopharmaceutical company’s stock valued at $3,936,000 after purchasing an additional 93,730 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of TG Therapeutics by 12.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,147 shares of the biopharmaceutical company’s stock valued at $729,000 after purchasing an additional 3,347 shares in the last quarter. Captrust Financial Advisors increased its holdings in TG Therapeutics by 21.1% during the third quarter. Captrust Financial Advisors now owns 30,327 shares of the biopharmaceutical company’s stock valued at $709,000 after buying an additional 5,279 shares during the period. Finally, HighTower Advisors LLC increased its position in TG Therapeutics by 19.6% during the 3rd quarter. HighTower Advisors LLC now owns 12,526 shares of the biopharmaceutical company’s stock valued at $294,000 after buying an additional 2,053 shares in the last quarter. Hedge funds and other institutional investors 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.