TG Therapeutics (NASDAQ:TGTX) Reaches New 12-Month High – Should You Buy?

Shares of TG Therapeutics, Inc. (NASDAQ:TGTX) hit a new 52-week high during trading on Wednesday . The stock 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.

Wall Street Analyst Weigh In

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

TG Therapeutics Stock Up 2.6 %

The company has a current ratio of 4.59, a quick ratio of 3.91 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $6.75 billion, a P/E ratio of -429.86 and a beta of 2.30. The company has a 50 day simple moving average of $32.89 and a two-hundred day simple moving average of $29.50.

TG Therapeutics (NASDAQ:TGTX) last posted its earnings results on Monday, March 3rd. The biopharmaceutical company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.07. The firm had revenue of $108.19 million during the quarter, compared to the consensus estimate of $100.67 million. TG Therapeutics had a negative return on equity of 8.32% and a negative net margin of 5.42%. On average, equities analysts predict that TG Therapeutics, Inc. will post 0.08 EPS for the current fiscal year.

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 stock was 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 directly owns 670,632 shares in the company, valued at approximately $20,313,443.28. This represents a 1.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 10.50% of the company’s stock.

Institutional Trading of TG Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of TGTX. State Street Corp raised its holdings in TG Therapeutics by 35.8% during the 3rd quarter. State Street Corp now owns 9,094,158 shares of the biopharmaceutical company’s stock valued at $212,712,000 after buying an additional 2,398,015 shares during the period. Clearbridge Investments LLC purchased a new stake in TG Therapeutics during the 4th quarter valued at $55,237,000. Principal Financial Group Inc. raised its holdings in TG Therapeutics by 1,549.4% during the 3rd quarter. Principal Financial Group Inc. now owns 772,188 shares of the biopharmaceutical company’s stock valued at $18,061,000 after buying an additional 725,371 shares during the period. Raymond James Financial Inc. purchased a new stake in TG Therapeutics during the 4th quarter valued at $14,508,000. Finally, Braun Stacey Associates Inc. purchased a new stake in TG Therapeutics during the 4th quarter valued at $13,328,000. 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.