TG Therapeutics (NASDAQ:TGTX) Trading 9.5% Higher – Here’s What Happened

TG Therapeutics, Inc. (NASDAQ:TGTX)’s stock price rose 9.5% on Friday . The stock traded as high as $39.94 and last traded at $40.57. Approximately 1,348,486 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 2,977,866 shares. The stock had previously closed at $37.06.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. lifted their target price on TG Therapeutics from $30.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. StockNews.com raised shares of 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 research note on Tuesday, March 4th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $40.67.

TG Therapeutics Stock Performance

The company has a fifty day moving average price of $31.86 and a two-hundred day moving average price of $29.04. 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 company has a market capitalization of $6.41 billion, a P/E ratio of -408.36 and a beta of 2.30.

TG Therapeutics (NASDAQ:TGTX) last posted its earnings results on Monday, March 3rd. The biopharmaceutical company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.07. The firm had revenue of $108.19 million for the quarter, compared to analyst estimates of $100.67 million. TG Therapeutics had a negative net margin of 5.42% and a negative return on equity of 8.32%. Equities analysts forecast that TG Therapeutics, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Sean A. Power sold 10,021 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $28.53, for a total value of $285,899.13. Following the completion of the sale, the chief financial officer now owns 660,611 shares of the company’s stock, 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 filing with the SEC, which is accessible through the SEC website. 10.50% of the stock is owned by corporate insiders.

Institutional Trading of TG Therapeutics

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

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.