TG Therapeutics (NASDAQ:TGTX) Reaches New 52-Week High – What’s Next?

TG Therapeutics, Inc. (NASDAQ:TGTX)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $27.79 and last traded at $27.42, with a volume of 254056 shares. The stock had previously closed at $27.17.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TGTX. HC Wainwright lifted their price target on TG Therapeutics from $49.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday. TD Cowen initiated coverage on shares of TG Therapeutics in a research report on Tuesday, October 29th. They issued a “buy” rating and a $50.00 price target on the stock. B. Riley lifted 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. Finally, The Goldman Sachs Group increased their target price on shares of TG Therapeutics from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.67.

TG Therapeutics Trading Up 2.2 %

The company’s 50-day moving average is $23.65 and its 200 day moving average is $20.30. The company has a current ratio of 3.58, a quick ratio of 2.83 and a debt-to-equity ratio of 0.58. The firm has a market cap of $4.30 billion, a PE ratio of -271.70 and a beta of 2.19.

TG Therapeutics (NASDAQ:TGTX) last issued its earnings results on Monday, November 4th. The biopharmaceutical company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). The business had revenue of $83.90 million during the quarter, compared to analyst estimates of $81.68 million. TG Therapeutics had a return on equity of 57.73% and a net margin of 27.60%. The business’s quarterly revenue was down 49.4% on a year-over-year basis. During the same period last year, the business earned $0.73 EPS. As a group, sell-side analysts predict that TG Therapeutics, Inc. will post 0.13 EPS for the current year.

Institutional Investors Weigh In On TG Therapeutics

A number of institutional investors have recently modified their holdings of the stock. Swiss National Bank increased its stake in shares of TG Therapeutics by 0.5% in the first quarter. Swiss National Bank now owns 284,100 shares of the biopharmaceutical company’s stock worth $4,321,000 after acquiring an additional 1,500 shares during the last quarter. Quantum Private Wealth LLC increased its position in TG Therapeutics by 13.7% in the 1st quarter. Quantum Private Wealth LLC now owns 103,604 shares of the biopharmaceutical company’s stock worth $1,576,000 after purchasing an additional 12,523 shares during the last quarter. Sei Investments Co. purchased a new stake in shares of TG Therapeutics during the 1st quarter worth about $591,000. Russell Investments Group Ltd. lifted its holdings in shares of TG Therapeutics by 133.5% during the 1st quarter. Russell Investments Group Ltd. now owns 52,339 shares of the biopharmaceutical company’s stock valued at $796,000 after buying an additional 29,923 shares during the last quarter. Finally, ProShare Advisors LLC grew its stake in shares of TG Therapeutics by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 24,914 shares of the biopharmaceutical company’s stock valued at $379,000 after buying an additional 1,961 shares in the last quarter. Institutional investors and hedge funds own 58.58% of the company’s stock.

About TG Therapeutics

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.