TG Therapeutics (NASDAQ:TGTX) Hits New 12-Month High on Analyst Upgrade

TG Therapeutics, Inc. (NASDAQ:TGTX) shares reached a new 52-week high during trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $30.00 to $43.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. TG Therapeutics traded as high as $36.84 and last traded at $36.48, with a volume of 298445 shares traded. The stock had previously closed at $35.07.

A number of other analysts also recently weighed in on TGTX. B. Riley lifted their price target 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 boosted their target price on TG Therapeutics from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report 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 assigned a buy rating to the company. According to data from MarketBeat, TG Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $40.67.

Insider Activity

In related news, Director Sagar Lonial sold 5,000 shares of the company’s 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 completion of the transaction, the director now directly owns 100,195 shares in the company, valued at approximately $3,049,935.80. This represents a 4.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 10.50% of the company’s stock.

Hedge Funds Weigh In On TG Therapeutics

A number of large investors have recently modified their holdings of TGTX. Oppenheimer & Co. Inc. purchased a new stake in shares of TG Therapeutics during the 3rd quarter valued at about $759,000. Segall Bryant & Hamill LLC acquired a new position in shares of TG Therapeutics in the 3rd quarter worth approximately $1,225,000. Principal Financial Group Inc. grew its position in shares of TG Therapeutics by 1,549.4% in the 3rd quarter. Principal Financial Group Inc. now owns 772,188 shares of the biopharmaceutical company’s stock worth $18,061,000 after acquiring an additional 725,371 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of TG Therapeutics in the 2nd quarter worth approximately $8,698,000. Finally, Marshall Wace LLP acquired a new position in shares of TG Therapeutics in the 2nd quarter worth approximately $36,501,000. 58.58% of the stock is currently owned by hedge funds and other institutional investors.

TG Therapeutics Trading Up 4.0 %

The firm has a market cap of $5.68 billion, a P/E ratio of -357.76 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 firm has a fifty day moving average of $25.62 and a 200-day moving average of $21.70.

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

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.