TG Therapeutics (NASDAQ:TGTX) Sets New 1-Year High – Time to Buy?

TG Therapeutics, Inc. (NASDAQ:TGTX) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $33.38 and last traded at $33.13, with a volume of 2339390 shares changing hands. The stock had previously closed at $30.91.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. B. Riley upped their price objective on TG Therapeutics from $29.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. 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. TD Cowen initiated coverage on TG Therapeutics in a research report on Tuesday, October 29th. They set a “buy” rating and a $50.00 target price on the stock. Finally, HC Wainwright boosted their target price on TG Therapeutics from $49.00 to $55.00 and gave the stock 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.67.

TG Therapeutics Trading Down 11.6 %

The firm has a market cap of $4.80 billion, a price-to-earnings ratio of -308.45 and a beta of 2.19. 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 business has a fifty day moving average of $24.59 and a two-hundred day moving average of $20.96.

TG Therapeutics (NASDAQ:TGTX) last released its quarterly earnings results on Monday, November 4th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). TG Therapeutics had a negative return on equity of 8.32% and a negative net margin of 5.42%. The firm had revenue of $83.90 million during the quarter, compared to analyst estimates of $81.68 million. During the same quarter in the prior year, the company earned $0.73 EPS. The business’s revenue was down 49.4% on a year-over-year basis. As a group, equities analysts expect that TG Therapeutics, Inc. will post 0.17 earnings per share 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 on Monday, November 11th. The stock was sold at an average price of $30.44, for a total value of $152,200.00. Following the transaction, the director now directly owns 100,195 shares of the company’s stock, valued at approximately $3,049,935.80. This trade represents a 4.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 10.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. NBC Securities Inc. increased its holdings in TG Therapeutics by 58.9% in the 3rd quarter. NBC Securities Inc. now owns 1,309 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 485 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in TG Therapeutics in the second quarter worth about $35,000. Blue Trust Inc. grew its stake in TG Therapeutics by 127.3% in the third quarter. Blue Trust Inc. now owns 1,516 shares of the biopharmaceutical company’s stock worth $35,000 after purchasing an additional 849 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in TG Therapeutics in the third quarter worth about $53,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in TG Therapeutics in the first quarter worth about $58,000. 58.58% of the stock is owned by hedge funds and other institutional investors.

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.