TG Therapeutics (NASDAQ:TGTX) Shares Gap Up – What’s Next?

Shares of TG Therapeutics, Inc. (NASDAQ:TGTX) gapped up before the market opened on Tuesday . The stock had previously closed at $24.35, but opened at $26.02. TG Therapeutics shares last traded at $24.82, with a volume of 814,518 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TGTX. HC Wainwright reiterated a “buy” rating and set a $49.00 price target on shares of TG Therapeutics in a research note on Wednesday, September 18th. The Goldman Sachs Group lifted their price target on TG Therapeutics from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. TD Cowen assumed coverage on TG Therapeutics in a research note on Tuesday. They set a “buy” rating and a $50.00 price target for the company. Finally, B. Riley boosted their target price on TG Therapeutics from $29.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $34.43.

TG Therapeutics Trading Up 3.5 %

The firm’s fifty day moving average price is $23.42 and its two-hundred day moving average price is $19.77. The stock has a market cap of $3.90 billion, a P/E ratio of 111.17 and a beta of 2.21. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.58 and a quick ratio of 2.83.

TG Therapeutics (NASDAQ:TGTX) last posted its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.08. The business had revenue of $73.47 million during the quarter, compared to analyst estimates of $65.92 million. TG Therapeutics had a net margin of 27.60% and a return on equity of 57.73%. The company’s revenue was up 357.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.34) earnings per share. As a group, equities research analysts forecast that TG Therapeutics, Inc. will post 0.13 EPS for the current year.

Institutional Investors Weigh In On TG Therapeutics

A number of large investors have recently added to or reduced their stakes in TGTX. Assenagon Asset Management S.A. bought a new stake in shares of TG Therapeutics during the 2nd quarter valued at $8,698,000. Marshall Wace LLP purchased a new stake in shares of TG Therapeutics during the 2nd quarter valued at about $36,501,000. Bank of New York Mellon Corp raised its position in shares of TG Therapeutics by 13.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 503,645 shares of the biopharmaceutical company’s stock valued at $8,960,000 after buying an additional 59,523 shares in the last quarter. Cetera Advisors LLC purchased a new stake in TG Therapeutics in the 1st quarter worth about $622,000. Finally, Russell Investments Group Ltd. raised its position in TG Therapeutics by 133.5% in the 1st quarter. Russell Investments Group Ltd. now owns 52,339 shares of the biopharmaceutical company’s stock worth $796,000 after purchasing an additional 29,923 shares during the period. Institutional investors 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.