TG Therapeutics (NASDAQ:TGTX) Trading Down 3.7%

TG Therapeutics, Inc. (NASDAQ:TGTX)’s stock price was down 3.7% during trading on Friday . The company traded as low as $22.60 and last traded at $22.63. Approximately 1,054,944 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 3,623,335 shares. The stock had previously closed at $23.51.

Analyst Ratings Changes

A number of equities research analysts recently commented on TGTX shares. The Goldman Sachs Group boosted their target price on TG Therapeutics from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. HC Wainwright reissued a “buy” rating and set a $49.00 price objective on shares of TG Therapeutics in a research note on Tuesday, August 6th. Finally, B. Riley boosted their price objective on TG Therapeutics from $29.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $31.83.

TG Therapeutics Stock Performance

The stock has a market cap of $3.63 billion, a P/E ratio of 102.13 and a beta of 2.23. The business has a 50 day moving average price of $20.73 and a 200 day moving average price of $17.45. The company has a quick ratio of 2.84, a current ratio of 3.62 and a debt-to-equity ratio of 0.63.

TG Therapeutics (NASDAQ:TGTX) last released its earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.08. The firm had revenue of $73.47 million for the quarter, compared to analysts’ expectations of $65.92 million. TG Therapeutics had a return on equity of 31.34% and a net margin of 14.24%. The company’s quarterly revenue was up 357.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.34) earnings per share. As a group, sell-side analysts expect that TG Therapeutics, Inc. will post -0.01 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TGTX. Pingora Partners LLC bought a new position in shares of TG Therapeutics during the fourth quarter valued at approximately $27,000. Ashton Thomas Private Wealth LLC bought a new position in TG Therapeutics in the second quarter worth approximately $35,000. DekaBank Deutsche Girozentrale bought a new position in TG Therapeutics in the first quarter worth approximately $58,000. Lazard Asset Management LLC bought a new position in TG Therapeutics in the first quarter worth approximately $91,000. Finally, nVerses Capital LLC grew its stake in TG Therapeutics by 34.9% in the second quarter. nVerses Capital LLC now owns 5,800 shares of the biopharmaceutical company’s stock worth $103,000 after purchasing an additional 1,500 shares in the last quarter. 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.