TG Therapeutics (NASDAQ:TGTX) Shares Gap Up to $25.08

TG Therapeutics, Inc. (NASDAQ:TGTX)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $25.08, but opened at $26.25. TG Therapeutics shares last traded at $25.75, with a volume of 445,632 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. HC Wainwright restated a “buy” rating and set a $49.00 price target on shares of TG Therapeutics in a research note on Wednesday. The Goldman Sachs Group upped their price target on TG Therapeutics from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Finally, B. Riley upped their price target 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 research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, TG Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $31.83.

TG Therapeutics Stock Performance

The firm has a market capitalization of $3.91 billion, a price-to-earnings ratio of 109.91 and a beta of 2.21. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.58 and a quick ratio of 2.83. The firm has a 50 day moving average price of $21.93 and a 200-day moving average price of $18.25.

TG Therapeutics (NASDAQ:TGTX) last announced its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.08. The business 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 57.73% and a net margin of 27.60%. The company’s revenue for the quarter was up 357.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.34) earnings per share. As a group, sell-side analysts expect that TG Therapeutics, Inc. will post 0.13 earnings per share for the current fiscal year.

Institutional Trading of TG Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of TGTX. Victory Capital Management Inc. raised its stake in TG Therapeutics by 22.7% in the fourth quarter. Victory Capital Management Inc. now owns 18,522 shares of the biopharmaceutical company’s stock valued at $316,000 after buying an additional 3,424 shares in the last quarter. Private Advisor Group LLC acquired a new stake in TG Therapeutics in the fourth quarter valued at $233,000. Charles Schwab Investment Management Inc. raised its stake in TG Therapeutics by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,131,896 shares of the biopharmaceutical company’s stock valued at $19,333,000 after buying an additional 19,214 shares in the last quarter. Norges Bank acquired a new stake in TG Therapeutics in the fourth quarter valued at $18,362,000. Finally, UBS Group AG raised its stake in TG Therapeutics by 67.2% in the fourth quarter. UBS Group AG now owns 564,836 shares of the biopharmaceutical company’s stock valued at $9,647,000 after buying an additional 226,971 shares in the last quarter. 58.58% of the stock is currently owned by institutional investors and hedge funds.

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.