TG Therapeutics (NASDAQ:TGTX) Trading Down 5.4%

Shares of TG Therapeutics, Inc. (NASDAQ:TGTX) traded down 5.4% during trading on Friday . The stock traded as low as $23.84 and last traded at $23.92. 1,236,170 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 3,625,487 shares. The stock had previously closed at $25.28.

Analysts Set New Price Targets

TGTX has been the subject of several analyst reports. The Goldman Sachs Group lifted their price objective on shares of TG Therapeutics from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. HC Wainwright reaffirmed a “buy” rating and issued a $49.00 price target on shares of TG Therapeutics in a research report on Wednesday. Finally, B. Riley increased their price objective on TG Therapeutics from $29.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, 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 $3.72 billion, a price-to-earnings ratio of 104.22 and a beta of 2.21. The stock’s 50-day simple moving average is $22.01 and its two-hundred day simple moving average is $18.30. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.83 and a current ratio of 3.58.

TG Therapeutics (NASDAQ:TGTX) last issued its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.08. The company had revenue of $73.47 million during the quarter, compared to analyst estimates of $65.92 million. TG Therapeutics had a return on equity of 57.73% and a net margin of 27.60%. The company’s quarterly revenue was up 357.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.34) earnings per share. Analysts forecast that TG Therapeutics, Inc. will post 0.13 earnings per share for the current year.

Institutional Trading of TG Therapeutics

A number of hedge funds have recently bought and sold shares of TGTX. Victory Capital Management Inc. lifted its stake in shares of 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 during the period. Private Advisor Group LLC bought a new stake in shares of TG Therapeutics in the 4th quarter worth approximately $233,000. Charles Schwab Investment Management Inc. grew its holdings in shares of TG Therapeutics by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,131,896 shares of the biopharmaceutical company’s stock worth $19,333,000 after purchasing an additional 19,214 shares in the last quarter. Norges Bank bought a new stake in shares of TG Therapeutics during the fourth quarter valued at approximately $18,362,000. Finally, UBS Group AG raised its stake in shares of 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 purchasing an additional 226,971 shares in the last quarter. 58.58% of the stock is owned by 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.