TG Therapeutics (NASDAQ:TGTX) Shares Gap Up – Time to Buy?

Shares of TG Therapeutics, Inc. (NASDAQ:TGTX) gapped up before the market opened 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.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TGTX. StockNews.com raised shares of TG Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, January 7th. 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 report on Tuesday, November 5th. TD Cowen initiated coverage on TG Therapeutics in a report on Tuesday, October 29th. They set a “buy” rating and a $50.00 price objective for the company. JPMorgan Chase & Co. increased 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. Finally, HC Wainwright boosted their target price on shares of TG Therapeutics from $49.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.67.

TG Therapeutics Stock Performance

The firm has a 50 day moving average price of $31.55 and a 200 day moving average price of $25.52. The stock has a market cap of $4.59 billion, a PE ratio of -294.97 and a beta of 2.24. The company has a quick ratio of 3.91, a current ratio of 4.59 and a debt-to-equity ratio of 1.27.

TG Therapeutics (NASDAQ:TGTX) last posted 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). The business had revenue of $83.90 million during the quarter, compared to the consensus estimate of $81.68 million. TG Therapeutics had a negative net margin of 5.42% and a negative return on equity of 8.32%. The company’s revenue for the quarter was down 49.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.73 EPS. As a group, research analysts forecast that TG Therapeutics, Inc. will post 0.17 earnings per share for the current year.

Insider Buying and Selling at TG Therapeutics

In related news, Director Sagar Lonial sold 5,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $30.44, for a total value of $152,200.00. Following the completion of the sale, the director now owns 100,195 shares of the company’s stock, valued at approximately $3,049,935.80. The trade was a 4.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sean A. Power sold 11,337 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $30.29, for a total transaction of $343,397.73. Following the transaction, the chief financial officer now 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 26,358 shares of company stock valued at $781,497. 10.50% of the stock is owned by insiders.

Institutional Trading of TG Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. NBC Securities Inc. boosted 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 buying an additional 485 shares during the last quarter. Quarry LP boosted its stake in shares of TG Therapeutics by 9.1% in the second quarter. Quarry LP now owns 6,003 shares of the biopharmaceutical company’s stock worth $107,000 after acquiring an additional 503 shares during the last quarter. Private Advisor Group LLC increased its position in shares of TG Therapeutics by 3.9% during the third quarter. Private Advisor Group LLC now owns 14,407 shares of the biopharmaceutical company’s stock worth $337,000 after purchasing an additional 542 shares in the last quarter. Brookstone Capital Management lifted its holdings in TG Therapeutics by 3.7% in the 4th quarter. Brookstone Capital Management now owns 17,521 shares of the biopharmaceutical company’s stock valued at $527,000 after purchasing an additional 624 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings 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 purchasing an additional 849 shares in the last quarter. Hedge funds and other institutional investors 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.