TG Therapeutics (NASDAQ:TGTX) Shares Gap Up to $13.66

TG Therapeutics, Inc. (NASDAQ:TGTX)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $13.66, but opened at $17.15. TG Therapeutics shares last traded at $16.31, with a volume of 5,961,876 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. LADENBURG THALM/SH SH boosted their target price on TG Therapeutics from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday. HC Wainwright raised their target price on shares of TG Therapeutics from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Thursday. B. Riley boosted their target price on TG Therapeutics from $24.00 to $29.00 and gave the company a “buy” rating in a research report on Monday, February 5th. StockNews.com lowered shares of TG Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, February 24th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $25.00 price target on shares of TG Therapeutics in a research note on Thursday, April 18th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $29.83.

TG Therapeutics Trading Up 3.4 %

The company has a quick ratio of 5.18, a current ratio of 5.92 and a debt-to-equity ratio of 0.62. The stock’s 50 day moving average is $15.13 and its two-hundred day moving average is $14.33. The company has a market capitalization of $2.54 billion, a PE ratio of 821.41 and a beta of 2.33.

TG Therapeutics (NASDAQ:TGTX) last announced its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.02). The business had revenue of $63.47 million during the quarter, compared to analysts’ expectations of $54.60 million. TG Therapeutics had a return on equity of 12.89% and a net margin of 5.42%. TG Therapeutics’s revenue for the quarter was up 713.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.28) EPS. As a group, sell-side analysts predict that TG Therapeutics, Inc. will post -0.11 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Laurence N. Charney sold 22,000 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $15.97, for a total transaction of $351,340.00. Following the sale, the director now directly owns 215,229 shares of the company’s stock, valued at $3,437,207.13. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 9.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Principal Financial Group Inc. boosted its position in TG Therapeutics by 3.9% during the first quarter. Principal Financial Group Inc. now owns 35,374 shares of the biopharmaceutical company’s stock worth $538,000 after purchasing an additional 1,322 shares in the last quarter. Wealth Effects LLC grew its stake in TG Therapeutics by 17.9% in the 1st quarter. Wealth Effects LLC now owns 16,500 shares of the biopharmaceutical company’s stock valued at $251,000 after acquiring an additional 2,500 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in TG Therapeutics by 4.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 107,420 shares of the biopharmaceutical company’s stock worth $1,634,000 after acquiring an additional 4,548 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in TG Therapeutics by 16.9% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 184,815 shares of the biopharmaceutical company’s stock valued at $2,811,000 after purchasing an additional 26,761 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its position in shares of TG Therapeutics by 55.8% in the first quarter. Los Angeles Capital Management LLC now owns 76,616 shares of the biopharmaceutical company’s stock valued at $1,165,000 after purchasing an additional 27,437 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.