TG Therapeutics (NASDAQ:TGTX) Trading 5.5% Higher – Should You Buy?

TG Therapeutics, Inc. (NASDAQ:TGTX)’s share price traded up 5.5% during trading on Thursday . The company traded as high as $32.98 and last traded at $32.85. 468,152 shares changed hands during trading, a decline of 87% from the average session volume of 3,682,331 shares. The stock had previously closed at $31.15.

Wall Street Analysts Forecast Growth

TGTX has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their price objective on TG Therapeutics from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. B. Riley increased their price target on shares of TG Therapeutics from $29.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. TD Cowen started coverage on shares of TG Therapeutics in a research report on Tuesday, October 29th. They issued a “buy” rating and a $50.00 price objective on the stock. Finally, HC Wainwright increased their target price on shares of TG Therapeutics from $49.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, TG Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $37.67.

TG Therapeutics Price Performance

The stock has a market cap of $5.46 billion, a P/E ratio of -350.70 and a beta of 2.19. The company has a quick ratio of 3.91, a current ratio of 4.59 and a debt-to-equity ratio of 1.27. The business’s 50-day simple moving average is $25.62 and its two-hundred day simple moving average is $21.64.

TG Therapeutics (NASDAQ:TGTX) last announced its quarterly earnings results on Monday, November 4th. The biopharmaceutical company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). TG Therapeutics had a negative net margin of 5.42% and a negative return on equity of 8.32%. The business had revenue of $83.90 million for the quarter, compared to analysts’ expectations of $81.68 million. During the same quarter in the previous year, the company posted $0.73 earnings per share. The business’s quarterly revenue was down 49.4% compared to the same quarter last year. Sell-side analysts expect that TG Therapeutics, Inc. will post 0.17 EPS for the current year.

Insider Activity at TG Therapeutics

In other news, Director Sagar Lonial sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were 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 directly owns 100,195 shares in the company, valued at approximately $3,049,935.80. This trade represents a 4.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.50% of the stock is currently owned by corporate insiders.

Institutional Trading of TG Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of TGTX. Teachers Retirement System of The State of Kentucky bought a new position in shares of TG Therapeutics in the third quarter worth $1,039,000. Neo Ivy Capital Management purchased a new position in TG Therapeutics during the third quarter worth about $2,358,000. Barclays PLC increased its stake in TG Therapeutics by 83.9% in the 3rd quarter. Barclays PLC now owns 347,057 shares of the biopharmaceutical company’s stock worth $8,117,000 after acquiring an additional 158,323 shares during the last quarter. Castleark Management LLC purchased a new stake in shares of TG Therapeutics in the 3rd quarter valued at about $3,948,000. Finally, Wellington Management Group LLP boosted its position in shares of TG Therapeutics by 12.7% during the 3rd quarter. Wellington Management Group LLP now owns 73,320 shares of the biopharmaceutical company’s stock valued at $1,715,000 after acquiring an additional 8,249 shares during the last quarter. 58.58% of the stock is currently owned by hedge funds and other 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.