TG Therapeutics (NASDAQ:TGTX) Hits New 52-Week High - Time to Buy?

TG Therapeutics, Inc. (NASDAQ:TGTX - Get Free Report)'s stock price hit a new 52-week high on Friday . The company traded as high as $26.74 and last traded at $26.45, with a volume of 2850661 shares traded. The stock had previously closed at $25.06.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. TD Cowen began coverage on shares of TG Therapeutics in a research report on Tuesday. They issued a "buy" rating and a $50.00 price target on the stock. B. Riley increased their target price on shares of TG Therapeutics from $29.00 to $34.00 and gave the stock a "buy" rating in a report on Wednesday, August 7th. HC Wainwright reiterated a "buy" rating and issued a $49.00 target price on shares of TG Therapeutics in a research note on Wednesday, September 18th. Finally, The Goldman Sachs Group upped their target price on TG Therapeutics from $18.00 to $20.00 and gave the company a "neutral" rating in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $34.43.

TG Therapeutics Trading Up 7.3 %

The firm has a market cap of $4.16 billion, a PE ratio of 44.10 and a beta of 2.21. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.58 and a quick ratio of 2.83. The company's 50 day moving average price is $23.51 and its 200 day moving average price is $20.01.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last announced its earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.04 EPS for the quarter, beating analysts' consensus estimates of ($0.04) by $0.08. The business had revenue of $73.47 million for the quarter, compared to analysts' expectations of $65.92 million. TG Therapeutics had a net margin of 27.60% and a return on equity of 57.73%. The company's quarterly revenue was up 357.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.34) EPS. As a group, analysts forecast that TG Therapeutics, Inc. will post 0.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TGTX. Principal Financial Group Inc. boosted its stake in shares of TG Therapeutics by 3.9% during the 1st quarter. Principal Financial Group Inc. now owns 35,374 shares of the biopharmaceutical company's stock valued at $538,000 after buying an additional 1,322 shares during the last quarter. Swiss National Bank increased its stake in TG Therapeutics by 0.5% in the 1st quarter. Swiss National Bank now owns 284,100 shares of the biopharmaceutical company's stock worth $4,321,000 after purchasing an additional 1,500 shares in the last quarter. Quantum Private Wealth LLC raised its holdings in shares of TG Therapeutics by 13.7% during the first quarter. Quantum Private Wealth LLC now owns 103,604 shares of the biopharmaceutical company's stock valued at $1,576,000 after acquiring an additional 12,523 shares during the period. Sei Investments Co. acquired a new stake in shares of TG Therapeutics in the first quarter worth $591,000. Finally, Russell Investments Group Ltd. increased its holdings in shares of TG Therapeutics by 133.5% in the 1st quarter. Russell Investments Group Ltd. now owns 52,339 shares of the biopharmaceutical company's stock valued at $796,000 after purchasing an additional 29,923 shares during the period. 58.58% of the stock is currently owned by institutional investors and hedge funds.

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.