TG Therapeutics (NASDAQ:TGTX) Sees Large Volume Increase After Better-Than-Expected Earnings

TG Therapeutics, Inc. (NASDAQ:TGTX - Get Free Report) saw unusually-strong trading volume on Monday after the company announced better than expected quarterly earnings. Approximately 3,051,440 shares changed hands during mid-day trading, an increase of 42% from the previous session's volume of 2,147,864 shares.The stock last traded at $35.04 and had previously closed at $30.09.

The biopharmaceutical company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.06. TG Therapeutics had a negative return on equity of 8.32% and a negative net margin of 5.42%.

Analyst Ratings Changes

TGTX has been the subject of several recent analyst reports. The Goldman Sachs Group raised 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. JPMorgan Chase & Co. lifted their target price on TG Therapeutics from $30.00 to $43.00 and gave the stock an "overweight" rating in a research note on Monday, November 25th. StockNews.com lowered TG Therapeutics from a "hold" rating to a "sell" rating in a report on Friday, January 31st. Finally, HC Wainwright reaffirmed a "buy" rating and set a $55.00 price target on shares of TG Therapeutics in a report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $40.67.

Insider Activity at TG Therapeutics

In other TG Therapeutics news, CFO Sean A. Power sold 10,021 shares of the business's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $28.53, for a total value of $285,899.13. Following the completion of the sale, the chief financial officer now owns 660,611 shares of the company's stock, valued at $18,847,231.83. The trade was a 1.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 10.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TG Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in TGTX. State Street Corp lifted its holdings in shares of TG Therapeutics by 35.8% during the 3rd quarter. State Street Corp now owns 9,094,158 shares of the biopharmaceutical company's stock worth $212,712,000 after acquiring an additional 2,398,015 shares during the period. Clearbridge Investments LLC bought a new stake in TG Therapeutics during the 4th quarter worth approximately $55,237,000. Principal Financial Group Inc. increased its position in 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 valued at $18,061,000 after acquiring an additional 725,371 shares during the period. Raymond James Financial Inc. acquired a new position in TG Therapeutics in the 4th quarter valued at approximately $14,508,000. Finally, Braun Stacey Associates Inc. bought a new position in shares of TG Therapeutics during the fourth quarter valued at $13,328,000. 58.58% of the stock is currently owned by institutional investors and hedge funds.

TG Therapeutics Trading Up 14.4 %

The company has a debt-to-equity ratio of 1.27, a current ratio of 4.59 and a quick ratio of 3.91. The company has a market cap of $5.36 billion, a price-to-earnings ratio of -344.17 and a beta of 2.26. The business's fifty day moving average price is $30.79 and its 200 day moving average price is $28.24.

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.