TG Therapeutics (NASDAQ:TGTX) Stock Price Down 2.9% – Should You Sell?

TG Therapeutics, Inc. (NASDAQ:TGTX)’s share price dropped 2.9% during mid-day trading on Monday . The company traded as low as $29.01 and last traded at $29.19. Approximately 195,725 shares changed hands during trading, a decline of 87% from the average daily volume of 1,519,561 shares. The stock had previously closed at $30.05.

Analyst Ratings Changes

A number of research firms have commented on TGTX. StockNews.com upgraded shares of TG Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday. JPMorgan Chase & Co. increased their price objective on TG Therapeutics from $30.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. The Goldman Sachs Group upped their price target on TG Therapeutics from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. TD Cowen initiated coverage on TG Therapeutics in a research report on Tuesday, October 29th. They issued a “buy” rating and a $50.00 price objective for the company. Finally, HC Wainwright raised their target price on shares of TG Therapeutics from $49.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $40.67.

TG Therapeutics Price Performance

The company has a debt-to-equity ratio of 1.27, a quick ratio of 3.91 and a current ratio of 4.59. The company has a market capitalization of $4.48 billion, a price-to-earnings ratio of -287.67 and a beta of 2.24. The company has a 50-day moving average price of $31.30 and a 200-day moving average price of $25.23.

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). The firm had revenue of $83.90 million for the quarter, compared to analyst estimates of $81.68 million. TG Therapeutics had a negative net margin of 5.42% and a negative return on equity of 8.32%. The firm’s revenue for the quarter was down 49.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.73 EPS. On average, equities research analysts expect that TG Therapeutics, Inc. will post 0.17 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Sagar Lonial sold 5,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $30.44, for a total transaction of $152,200.00. Following the completion of the sale, the director now directly owns 100,195 shares of the company’s stock, valued at approximately $3,049,935.80. This represents a 4.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sean A. Power sold 10,021 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $28.53, for a total transaction of $285,899.13. Following the completion of the transaction, the chief financial officer now owns 660,611 shares of the company’s stock, valued at $18,847,231.83. This trade represents a 1.49 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,358 shares of company stock worth $781,497. Corporate insiders own 10.50% of the company’s stock.

Institutional Trading of TG Therapeutics

A number of institutional investors have recently modified their holdings of TGTX. State Street Corp raised its position in TG Therapeutics by 35.8% in the 3rd quarter. State Street Corp now owns 9,094,158 shares of the biopharmaceutical company’s stock valued at $212,712,000 after buying an additional 2,398,015 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of TG Therapeutics in the second quarter valued at approximately $36,501,000. Hood River Capital Management LLC lifted its position in shares of TG Therapeutics by 6.7% in the second quarter. Hood River Capital Management LLC now owns 1,572,929 shares of the biopharmaceutical company’s stock worth $27,982,000 after purchasing an additional 98,892 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in TG Therapeutics by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,184,609 shares of the biopharmaceutical company’s stock worth $27,708,000 after purchasing an additional 7,939 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in TG Therapeutics by 1,549.4% in the third quarter. Principal Financial Group Inc. now owns 772,188 shares of the biopharmaceutical company’s stock valued at $18,061,000 after purchasing an additional 725,371 shares in the last quarter. 58.58% of the stock is currently owned by institutional investors.

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.