TG Therapeutics (NASDAQ:TGTX) Stock Price Down 2.4% – What’s Next?

TG Therapeutics, Inc. (NASDAQ:TGTX)’s stock price dropped 2.4% during trading on Tuesday . The stock traded as low as $30.61 and last traded at $30.68. Approximately 366,002 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 3,526,031 shares. The stock had previously closed at $31.45.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. StockNews.com lowered TG Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, December 22nd. HC Wainwright upped their price objective on shares of TG Therapeutics from $49.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. The Goldman Sachs Group boosted their price target on shares of TG Therapeutics from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. TD Cowen assumed coverage on shares of TG Therapeutics in a research note on Tuesday, October 29th. They issued a “buy” rating and a $50.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their price target on TG Therapeutics from $30.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, TG Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $40.67.

TG Therapeutics Trading Down 4.3 %

The firm’s 50-day simple moving average is $30.89 and its 200-day simple moving average is $24.83. The firm has a market capitalization of $4.69 billion, a P/E ratio of -300.97 and a beta of 2.25. 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 announced its earnings results on Monday, November 4th. The biopharmaceutical company reported $0.02 earnings per share (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 company had revenue of $83.90 million during the quarter, compared to analysts’ expectations of $81.68 million. During the same quarter last year, the firm posted $0.73 earnings per share. The firm’s revenue was down 49.4% on a year-over-year basis. Analysts anticipate that TG Therapeutics, Inc. will post 0.17 EPS for the current year.

Insider Buying and Selling

In other TG Therapeutics news, 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 value of $152,200.00. Following the transaction, the director now directly owns 100,195 shares of the company’s stock, valued at $3,049,935.80. The trade was a 4.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 10.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TGTX. State Street Corp grew its stake in shares of TG Therapeutics by 35.8% in the third quarter. State Street Corp now owns 9,094,158 shares of the biopharmaceutical company’s stock worth $212,712,000 after purchasing an additional 2,398,015 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of TG Therapeutics during the 2nd quarter valued at $36,501,000. Hood River Capital Management LLC grew its position in shares of TG Therapeutics by 6.7% in the 2nd quarter. Hood River Capital Management LLC now owns 1,572,929 shares of the biopharmaceutical company’s stock worth $27,982,000 after buying an additional 98,892 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of TG Therapeutics by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,184,609 shares of the biopharmaceutical company’s stock worth $27,708,000 after acquiring an additional 7,939 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position 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 acquiring an additional 725,371 shares during the period. 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.