TG Therapeutics (NASDAQ:TGTX) Sets New 1-Year High After Analyst Upgrade

TG Therapeutics, Inc. (NASDAQ:TGTX) shares reached a new 52-week high during mid-day trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $30.00 to $43.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. TG Therapeutics traded as high as $36.84 and last traded at $36.48, with a volume of 298445 shares traded. The stock had previously closed at $35.07.

A number of other brokerages also recently issued reports on TGTX. B. Riley increased their price objective on shares of TG Therapeutics from $29.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group increased their price target on shares of TG Therapeutics from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. TD Cowen initiated coverage on shares of TG Therapeutics in a research report on Tuesday, October 29th. They set a “buy” rating and a $50.00 price objective for the company. Finally, HC Wainwright raised their target price on TG Therapeutics from $49.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.67.

Insider Activity at TG Therapeutics

In other TG Therapeutics news, Director Sagar Lonial sold 5,000 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.44, for a total value of $152,200.00. Following the completion of the transaction, the director now owns 100,195 shares of the company’s stock, valued at $3,049,935.80. This represents a 4.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 10.50% of the stock is owned by insiders.

Institutional Trading of TG Therapeutics

Hedge funds have recently made changes to their positions in the company. NBC Securities Inc. raised its holdings in TG Therapeutics by 58.9% in the 3rd quarter. NBC Securities Inc. now owns 1,309 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 485 shares during the last quarter. Quarry LP raised its stake in shares of TG Therapeutics by 9.1% during the second quarter. Quarry LP now owns 6,003 shares of the biopharmaceutical company’s stock valued at $107,000 after acquiring an additional 503 shares during the last quarter. Private Advisor Group LLC lifted its holdings in shares of TG Therapeutics by 3.9% during the third quarter. Private Advisor Group LLC now owns 14,407 shares of the biopharmaceutical company’s stock worth $337,000 after purchasing an additional 542 shares during the period. Blue Trust Inc. grew its stake in shares of TG Therapeutics by 127.3% in the third quarter. Blue Trust Inc. now owns 1,516 shares of the biopharmaceutical company’s stock worth $35,000 after purchasing an additional 849 shares during the last quarter. Finally, KBC Group NV increased its holdings in TG Therapeutics by 30.5% in the third quarter. KBC Group NV now owns 4,675 shares of the biopharmaceutical company’s stock valued at $109,000 after purchasing an additional 1,092 shares during the period. 58.58% of the stock is owned by institutional investors and hedge funds.

TG Therapeutics Stock Performance

The firm has a market capitalization of $5.33 billion, a P/E ratio of -342.60 and a beta of 2.19. The company has a 50-day moving average of $25.81 and a 200-day moving average of $21.83. The company has a current ratio of 4.59, a quick ratio of 3.91 and a debt-to-equity ratio of 1.27.

TG Therapeutics (NASDAQ:TGTX) last issued its quarterly earnings data 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 return on equity of 8.32% and a negative net margin of 5.42%. The company had revenue of $83.90 million for the quarter, compared to the consensus estimate of $81.68 million. During the same quarter last year, the business earned $0.73 earnings per share. TG Therapeutics’s revenue was down 49.4% compared to the same quarter last year. On average, equities analysts anticipate that TG Therapeutics, Inc. will post 0.17 earnings per share for the current fiscal year.

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.