TG Therapeutics (NASDAQ:TGTX) Shares Up 7.9% – Here’s What Happened

Shares of TG Therapeutics, Inc. (NASDAQ:TGTX) were up 7.9% during trading on Tuesday . The stock traded as high as $30.79 and last traded at $31.0560. Approximately 1,394,719 shares changed hands during mid-day trading, a decline of 30% from the average daily volume of 1,992,616 shares. The stock had previously closed at $28.77.

Analysts Set New Price Targets

Several analysts recently weighed in on TGTX shares. JPMorgan Chase & Co. dropped their target price on shares of TG Therapeutics from $49.00 to $46.00 and set an “overweight” rating for the company in a report on Monday, February 2nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TG Therapeutics in a research note on Monday, December 29th. Cantor Fitzgerald reiterated an “overweight” rating on shares of TG Therapeutics in a report on Wednesday, January 14th. The Goldman Sachs Group raised their target price on TG Therapeutics from $37.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, January 15th. Finally, Wall Street Zen downgraded TG Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, TG Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $50.00.

TG Therapeutics Price Performance

The company has a 50 day moving average of $29.50 and a 200 day moving average of $31.50. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.29 and a current ratio of 4.10. The stock has a market capitalization of $5.09 billion, a price-to-earnings ratio of 11.46 and a beta of 1.87.

TG Therapeutics (NASDAQ:TGTX) last announced its quarterly earnings data on Thursday, February 26th. The biopharmaceutical company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.21). TG Therapeutics had a net margin of 72.56% and a return on equity of 101.12%. The company had revenue of $192.57 million during the quarter, compared to analysts’ expectations of $192.15 million. During the same quarter in the previous year, the business posted $0.15 EPS. The business’s quarterly revenue was up 78.0% compared to the same quarter last year. As a group, equities research analysts anticipate that TG Therapeutics, Inc. will post 0.08 EPS for the current year.

Institutional Investors Weigh In On TG Therapeutics

Institutional investors have recently modified their holdings of the company. Rockefeller Capital Management L.P. grew its stake in shares of TG Therapeutics by 29.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 23,058 shares of the biopharmaceutical company’s stock worth $687,000 after purchasing an additional 5,292 shares in the last quarter. Corient Private Wealth LLC raised its stake in TG Therapeutics by 3.6% in the fourth quarter. Corient Private Wealth LLC now owns 41,764 shares of the biopharmaceutical company’s stock valued at $1,245,000 after buying an additional 1,469 shares in the last quarter. Hsbc Holdings PLC raised its stake in TG Therapeutics by 228.7% in the fourth quarter. Hsbc Holdings PLC now owns 146,087 shares of the biopharmaceutical company’s stock valued at $4,374,000 after buying an additional 101,646 shares in the last quarter. Invesco Ltd. lifted its holdings in TG Therapeutics by 47.1% during the 4th quarter. Invesco Ltd. now owns 1,609,815 shares of the biopharmaceutical company’s stock worth $47,989,000 after buying an additional 515,481 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new position in shares of TG Therapeutics during the 4th quarter worth about $212,000. 58.58% of the stock is owned by hedge funds and other institutional investors.

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.