TG Therapeutics (NASDAQ:TGTX) Shares Gap Up - Here's Why

TG Therapeutics, Inc. (NASDAQ:TGTX - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $27.67, but opened at $29.55. TG Therapeutics shares last traded at $28.99, with a volume of 1,568,539 shares trading hands.

Analyst Ratings Changes

TGTX has been the topic of a number of analyst reports. HC Wainwright increased their price objective on TG Therapeutics from $49.00 to $55.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. StockNews.com raised shares of TG Therapeutics from a "sell" rating to a "hold" rating in a research note on Tuesday, January 7th. JPMorgan Chase & Co. lifted their target price on shares of TG Therapeutics from $30.00 to $43.00 and gave the stock an "overweight" rating in a research note on Monday, November 25th. The Goldman Sachs Group increased their price target on TG Therapeutics from $20.00 to $22.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 5th. Finally, TD Cowen began coverage on TG Therapeutics in a research report on Tuesday, October 29th. They issued a "buy" rating and a $50.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, TG Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $40.67.

TG Therapeutics Stock Up 7.5 %

The stock's fifty day simple moving average is $31.55 and its two-hundred day simple moving average is $25.52. 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 capitalization of $4.63 billion, a price-to-earnings ratio of -297.37 and a beta of 2.24.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last released its quarterly 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). 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 for the quarter, compared to the consensus estimate of $81.68 million. During the same quarter in the prior year, the company posted $0.73 EPS. The firm's revenue was down 49.4% on a year-over-year basis. On average, sell-side analysts predict that TG Therapeutics, Inc. will post 0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Sean A. Power sold 10,021 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $28.53, for a total transaction of $285,899.13. Following the completion of the sale, the chief financial officer now directly owns 660,611 shares of the company's stock, valued at $18,847,231.83. This represents a 1.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sagar Lonial sold 5,000 shares of TG Therapeutics stock in a transaction that occurred 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 transaction, the director now owns 100,195 shares in the company, valued at approximately $3,049,935.80. This trade represents a 4.75 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,358 shares of company stock worth $781,497. 10.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On TG Therapeutics

Several hedge funds have recently bought and sold shares of TGTX. NBC Securities Inc. raised its holdings in TG Therapeutics by 58.9% in the 3rd quarter. NBC Securities Inc. now owns 1,309 shares of the biopharmaceutical company's stock worth $30,000 after acquiring an additional 485 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in shares of TG Therapeutics in the 2nd quarter worth approximately $35,000. Blue Trust Inc. lifted its holdings in TG Therapeutics by 127.3% during the 3rd quarter. Blue Trust Inc. now owns 1,516 shares of the biopharmaceutical company's stock valued at $35,000 after purchasing an additional 849 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in TG Therapeutics in the third quarter valued at about $53,000. Finally, Values First Advisors Inc. bought a new stake in TG Therapeutics during the third quarter worth about $58,000. 58.58% of the stock is owned by hedge funds and other institutional investors.

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.