TG Therapeutics (NASDAQ:TGTX) Sets 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 changing hands. The stock had previously closed at $35.07.

A number of other research analysts have also weighed in on the stock. The Goldman Sachs Group lifted their price target on shares of 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 boosted 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. HC Wainwright raised their price target on TG Therapeutics from $49.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, TD Cowen assumed coverage on TG Therapeutics in a report on Tuesday, October 29th. They set a “buy” rating and a $50.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, TG Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $40.67.

Insider Buying and Selling

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 transaction of $152,200.00. Following the completion of the sale, the director now directly owns 100,195 shares in the company, valued at $3,049,935.80. This represents a 4.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 10.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On TG Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. Sei Investments Co. bought a new position in TG Therapeutics in the 1st quarter valued at approximately $591,000. Russell Investments Group Ltd. grew its stake in shares of TG Therapeutics by 133.5% in the first quarter. Russell Investments Group Ltd. now owns 52,339 shares of the biopharmaceutical company’s stock worth $796,000 after purchasing an additional 29,923 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in TG Therapeutics in the first quarter valued at $91,000. Price T Rowe Associates Inc. MD raised its position in TG Therapeutics by 6.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,603 shares of the biopharmaceutical company’s stock worth $1,303,000 after purchasing an additional 5,015 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in TG Therapeutics by 29.9% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 524,861 shares of the biopharmaceutical company’s stock worth $7,983,000 after buying an additional 120,699 shares during the period. 58.58% of the stock is currently owned by institutional investors and hedge funds.

TG Therapeutics Price Performance

The stock has a market cap of $5.39 billion, a P/E ratio of -346.07 and a beta of 2.19. The business has a 50-day simple moving average of $25.81 and a 200 day simple moving average of $21.83. The company has a current ratio of 4.59, a quick ratio of 3.91 and a debt-to-equity ratio of 1.27.

TG Therapeutics (NASDAQ:TGTX) last issued its quarterly earnings results 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). 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 last year, the firm posted $0.73 EPS. The firm’s revenue for the quarter was down 49.4% on a year-over-year basis. On average, analysts forecast that TG Therapeutics, Inc. will post 0.17 earnings per share for the current year.

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.