TG Therapeutics (NASDAQ:TGTX) Sets New 1-Year High Following Analyst Upgrade

TG Therapeutics, Inc. (NASDAQ:TGTX - Get Free Report) hit 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 trading hands. The stock had previously closed at $35.07.

A number of other research analysts have also recently weighed in on the stock. TD Cowen initiated coverage on shares of TG Therapeutics in a research note on Tuesday, October 29th. They set a "buy" rating and a $50.00 price objective for the company. HC Wainwright boosted their price target on TG Therapeutics from $49.00 to $55.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. B. Riley increased 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. Finally, The Goldman Sachs Group boosted their target price 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. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, TG Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $40.67.

Insider Buying and Selling

In other TG Therapeutics news, Director Sagar Lonial sold 5,000 shares of the company's stock in a transaction dated 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 10.50% of the stock is currently owned by company insiders.

Institutional Trading of TG Therapeutics

A number of institutional investors have recently modified their holdings of TGTX. NBC Securities Inc. lifted its holdings in shares of TG Therapeutics by 58.9% during the 3rd quarter. NBC Securities Inc. now owns 1,309 shares of the biopharmaceutical company's stock valued at $30,000 after acquiring an additional 485 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in TG Therapeutics in the 2nd quarter worth $35,000. Blue Trust Inc. boosted its position in TG Therapeutics by 127.3% in the 3rd quarter. Blue Trust Inc. now owns 1,516 shares of the biopharmaceutical company's stock valued at $35,000 after buying an additional 849 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of TG Therapeutics during the third quarter valued at about $53,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of TG Therapeutics during the first quarter worth about $58,000. Hedge funds and other institutional investors own 58.58% of the company's stock.

TG Therapeutics Stock Performance

The company has a 50 day moving average of $25.81 and a 200 day moving average of $21.83. 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 firm has a market cap of $5.39 billion, a price-to-earnings ratio of -346.07 and a beta of 2.19.

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