TG Therapeutics (NASDAQ:TGTX) Hits New 52-Week High – Should You Buy?

TG Therapeutics, Inc. (NASDAQ:TGTX) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $47.93 and last traded at $48.48, with a volume of 493673 shares. The stock had previously closed at $43.37.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Wall Street Zen cut shares of TG Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. HC Wainwright restated a “buy” rating and set a $70.00 target price on shares of TG Therapeutics in a research note on Wednesday, May 27th. Zacks Research upgraded shares of TG Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. Finally, Weiss Ratings upgraded shares of TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, TG Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.50.

TG Therapeutics Stock Up 9.2%

The company has a current ratio of 5.81, a quick ratio of 5.12 and a debt-to-equity ratio of 1.28. The firm’s 50 day simple moving average is $37.46 and its two-hundred day simple moving average is $32.77. The firm has a market cap of $7.25 billion, a price-to-earnings ratio of 16.57 and a beta of 1.68.

TG Therapeutics (NASDAQ:TGTX) last issued its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.11). TG Therapeutics had a return on equity of 88.73% and a net margin of 65.95%.The business had revenue of $204.92 million during the quarter, compared to analyst estimates of $200.33 million. During the same quarter last year, the firm earned $0.03 EPS. TG Therapeutics’s revenue for the quarter was up 69.5% compared to the same quarter last year. On average, equities analysts forecast that TG Therapeutics, Inc. will post 1.51 EPS for the current year.

Hedge Funds Weigh In On TG Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its position in shares of TG Therapeutics by 51.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the biopharmaceutical company’s stock valued at $35,000 after buying an additional 365 shares in the last quarter. Maryland State Retirement & Pension System raised its position in shares of TG Therapeutics by 2.0% in the 4th quarter. Maryland State Retirement & Pension System now owns 19,899 shares of the biopharmaceutical company’s stock valued at $593,000 after buying an additional 393 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of TG Therapeutics by 1.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,406 shares of the biopharmaceutical company’s stock valued at $1,135,000 after buying an additional 441 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of TG Therapeutics by 16.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,147 shares of the biopharmaceutical company’s stock valued at $94,000 after buying an additional 454 shares in the last quarter. Finally, HB Wealth Management LLC raised its position in shares of TG Therapeutics by 6.7% in the 1st quarter. HB Wealth Management LLC now owns 7,514 shares of the biopharmaceutical company’s stock valued at $250,000 after buying an additional 475 shares in the last quarter. 58.58% of the stock is currently owned by institutional investors and hedge funds.

TG Therapeutics Company Profile

TG Therapeutics, Inc is a clinical‐stage biopharmaceutical company headquartered in New York City that specializes in developing targeted therapies for hematological malignancies and autoimmune diseases. The company’s research strategy focuses on the modulation of B-cell biology through novel antibody and small‐molecule agents. Since its founding in 2003, TG Therapeutics has built a diversified portfolio aimed at addressing unmet medical needs in oncology and immunology.

In December 2022, TG Therapeutics achieved its first commercial milestone when ublituximab-xiiy (marketed as Briumvi® in collaboration with Biogen) received U.S.