TG Therapeutics (NASDAQ:TGTX) Hits New 1-Year High - Here's What Happened

TG Therapeutics, Inc. (NASDAQ:TGTX - Get Free Report) shares reached a new 52-week high on Wednesday . The company traded as high as $42.36 and last traded at $42.14, with a volume of 1394831 shares changing hands. The stock had previously closed at $39.88.

Analysts Set New Price Targets

TGTX has been the subject of a number of recent analyst reports. StockNews.com raised shares of TG Therapeutics from a "sell" rating to a "hold" rating in a report on Tuesday, March 4th. JPMorgan Chase & Co. lifted their price objective on shares of TG Therapeutics from $30.00 to $43.00 and gave the company an "overweight" rating in a report on Monday, November 25th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $55.00 price objective on shares of TG Therapeutics in a report on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $40.67.

TG Therapeutics Stock Up 2.6 %

The business's 50 day moving average price is $33.17 and its 200-day moving average price is $29.68. The firm has a market capitalization of $6.75 billion, a PE ratio of -429.86 and a beta of 2.30. The company has a debt-to-equity ratio of 1.27, a quick ratio of 3.91 and a current ratio of 4.59.

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TG Therapeutics (NASDAQ:TGTX - Get Free Report) last released its quarterly earnings results on Monday, March 3rd. The biopharmaceutical company reported $0.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.07. The business had revenue of $108.19 million for the quarter, compared to the consensus estimate of $100.67 million. TG Therapeutics had a negative net margin of 5.42% and a negative return on equity of 8.32%. As a group, equities research analysts forecast that TG Therapeutics, Inc. will post 0.08 earnings per share for the current year.

Insider Buying and Selling

In other TG Therapeutics news, CFO Sean A. Power sold 11,337 shares of the business's stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $30.29, for a total transaction of $343,397.73. Following the completion of the transaction, the chief financial officer now owns 670,632 shares in the company, valued at $20,313,443.28. The trade was a 1.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 10.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. NorthCrest Asset Manangement LLC acquired a new position in TG Therapeutics during the 4th quarter worth approximately $448,000. Vermillion Wealth Management Inc. acquired a new position in TG Therapeutics during the 4th quarter worth approximately $30,000. Castleark Management LLC grew its holdings in TG Therapeutics by 25.2% during the 4th quarter. Castleark Management LLC now owns 211,370 shares of the biopharmaceutical company's stock worth $6,362,000 after acquiring an additional 42,560 shares in the last quarter. Soleus Capital Management L.P. boosted its holdings in shares of TG Therapeutics by 5.8% in the 4th quarter. Soleus Capital Management L.P. now owns 2,681,242 shares of the biopharmaceutical company's stock valued at $80,705,000 after buying an additional 146,702 shares in the last quarter. Finally, Wexford Capital LP acquired a new position in shares of TG Therapeutics in the 4th quarter valued at $421,000. Institutional investors and hedge funds own 58.58% of the company's stock.

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.