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

TG Therapeutics, Inc. (NASDAQ:TGTX) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $50.60 and last traded at $50.30, with a volume of 2580380 shares changing hands. The stock had previously closed at $49.52.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TGTX. HC Wainwright reiterated a “buy” rating and issued a $70.00 price target on shares of TG Therapeutics in a research note on Wednesday, May 27th. Zacks Research upgraded TG Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. Finally, Weiss Ratings upgraded TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $52.50.

TG Therapeutics Price Performance

The firm has a market cap of $7.70 billion, a P/E ratio of 17.59 and a beta of 1.68. 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 business has a 50-day moving average of $38.72 and a two-hundred day moving average of $33.24.

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 analysts’ consensus estimates of $0.23 by ($0.11). The firm had revenue of $204.92 million for the quarter, compared to the consensus estimate of $200.33 million. TG Therapeutics had a return on equity of 88.73% and a net margin of 65.95%.The company’s revenue was up 69.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.03 EPS. On average, sell-side analysts anticipate that TG Therapeutics, Inc. will post 1.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TG Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. First Nebraska Trust Co bought a new stake in TG Therapeutics during the 1st quarter worth $233,000. Bank of America Corp DE grew its position in TG Therapeutics by 71.7% during the 1st quarter. Bank of America Corp DE now owns 1,461,302 shares of the biopharmaceutical company’s stock worth $48,544,000 after acquiring an additional 610,195 shares during the last quarter. Edgestream Partners L.P. bought a new stake in TG Therapeutics during the 1st quarter worth $5,593,000. Amundi bought a new stake in TG Therapeutics during the 1st quarter worth $460,000. Finally, EverSource Wealth Advisors LLC grew its position in TG Therapeutics by 51.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the biopharmaceutical company’s stock worth $35,000 after acquiring an additional 365 shares during the last quarter. Institutional investors own 58.58% of the company’s stock.

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.