TG Therapeutics (NASDAQ:TGTX) Hits New 52-Week High – Time to Buy?

TG Therapeutics, Inc. (NASDAQ:TGTX) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $33.38 and last traded at $33.13, with a volume of 2339390 shares changing hands. The stock had previously closed at $30.91.

Analysts Set New Price Targets

Several research firms have weighed in on TGTX. The Goldman Sachs Group increased their target price on shares of TG Therapeutics from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. HC Wainwright raised their price objective on TG Therapeutics from $49.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. TD Cowen assumed coverage on TG Therapeutics in a report on Tuesday, October 29th. They issued a “buy” rating and a $50.00 price target for the company. Finally, B. Riley raised their price target on TG Therapeutics from $29.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, TG Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $37.67.

TG Therapeutics Stock Performance

The company has a 50 day simple moving average of $24.15 and a 200-day simple moving average of $20.79. The company has a quick ratio of 3.91, a current ratio of 4.59 and a debt-to-equity ratio of 1.27.

TG Therapeutics (NASDAQ:TGTX) last announced its earnings results on Monday, November 4th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). TG Therapeutics had a negative net margin of 5.42% and a negative return on equity of 8.32%. The firm had revenue of $83.90 million during the quarter, compared to analyst estimates of $81.68 million. During the same period in the prior year, the business posted $0.73 EPS. The firm’s quarterly revenue was down 49.4% compared to the same quarter last year. On average, analysts expect that TG Therapeutics, Inc. will post 0.17 EPS for the current fiscal year.

Insider Buying and Selling

In other TG Therapeutics news, Director Sagar Lonial sold 5,000 shares of TG Therapeutics stock in a transaction on Monday, November 11th. The shares were sold at an average price of $30.44, for a total value of $152,200.00. Following the sale, the director now directly owns 100,195 shares in the company, valued at approximately $3,049,935.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 10.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Harvest Fund Management Co. Ltd bought a new position in shares of TG Therapeutics in the third quarter valued at $111,000. Penserra Capital Management LLC grew its position in shares of TG Therapeutics by 293.6% in the 3rd quarter. Penserra Capital Management LLC now owns 98,144 shares of the biopharmaceutical company’s stock valued at $2,295,000 after acquiring an additional 73,211 shares during the period. Citigroup Inc. increased its stake in shares of TG Therapeutics by 125.7% during the 3rd quarter. Citigroup Inc. now owns 168,277 shares of the biopharmaceutical company’s stock worth $3,936,000 after purchasing an additional 93,730 shares during the last quarter. Eagle Asset Management Inc. bought a new stake in shares of TG Therapeutics in the 3rd quarter valued at about $3,948,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of TG Therapeutics by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,184,609 shares of the biopharmaceutical company’s stock valued at $27,708,000 after purchasing an additional 7,939 shares during the period. Institutional investors and hedge funds own 58.58% of the company’s stock.

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.