TG Therapeutics (NASDAQ:TGTX) Shares Up 5.2% on Better-Than-Expected Earnings

TG Therapeutics, Inc. (NASDAQ:TGTX - Get Free Report)'s share price was up 5.2% on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $36.77 and last traded at $36.22. Approximately 973,114 shares changed hands during trading, a decline of 59% from the average daily volume of 2,388,404 shares. The stock had previously closed at $34.42.

The biopharmaceutical company reported $0.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.07. TG Therapeutics had a negative net margin of 5.42% and a negative return on equity of 8.32%. The company had revenue of $108.19 million during the quarter, compared to analysts' expectations of $100.67 million.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. StockNews.com upgraded TG Therapeutics from a "sell" rating to a "hold" rating in a research report on Tuesday. JPMorgan Chase & Co. lifted their price objective on 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 target price on shares of TG Therapeutics in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $40.67.

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Insider Activity

In other news, CFO Sean A. Power sold 11,337 shares of the 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 sale, the chief financial officer now directly owns 670,632 shares of the company's stock, valued at $20,313,443.28. This represents a 1.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 10.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TGTX. Vermillion Wealth Management Inc. bought a new stake in shares of TG Therapeutics during the fourth quarter worth $30,000. Quadrant Capital Group LLC raised its holdings in TG Therapeutics by 137.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,686 shares of the biopharmaceutical company's stock worth $51,000 after purchasing an additional 975 shares during the last quarter. Blue Trust Inc. raised its holdings in TG Therapeutics by 24.5% during the 4th quarter. Blue Trust Inc. now owns 1,887 shares of the biopharmaceutical company's stock worth $57,000 after purchasing an additional 371 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in TG Therapeutics by 512.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,905 shares of the biopharmaceutical company's stock valued at $60,000 after purchasing an additional 1,594 shares during the period. Finally, Jones Financial Companies Lllp boosted its stake in shares of TG Therapeutics by 460.7% in the 4th quarter. Jones Financial Companies Lllp now owns 2,114 shares of the biopharmaceutical company's stock valued at $64,000 after purchasing an additional 1,737 shares during the last quarter. Institutional investors and hedge funds own 58.58% of the company's stock.

TG Therapeutics Stock Performance

The company has a debt-to-equity ratio of 1.27, a quick ratio of 3.91 and a current ratio of 4.59. The company has a market cap of $5.98 billion, a price-to-earnings ratio of -384.36 and a beta of 2.30. The firm's 50-day moving average price is $30.95 and its 200 day moving average price is $28.43.

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.