TG Therapeutics (NASDAQ:TGTX) Stock Price Down 2.4% – Here’s Why

Shares of TG Therapeutics, Inc. (NASDAQ:TGTX) fell 2.4% on Tuesday . The company traded as low as $30.61 and last traded at $30.68. 366,002 shares traded hands during trading, a decline of 90% from the average session volume of 3,526,031 shares. The stock had previously closed at $31.45.

Analyst Ratings Changes

Several research firms have commented on TGTX. TD Cowen assumed coverage on TG Therapeutics in a report on Tuesday, October 29th. They issued a “buy” rating and a $50.00 target price on the stock. JPMorgan Chase & Co. increased their price objective on TG Therapeutics from $30.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. HC Wainwright raised their target price on shares of TG Therapeutics from $49.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. The Goldman Sachs Group increased their price target on TG Therapeutics from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Finally, StockNews.com downgraded TG Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, December 22nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.67.

TG Therapeutics Trading Down 4.3 %

The firm has a market capitalization of $4.69 billion, a P/E ratio of -300.97 and a beta of 2.25. The company has a debt-to-equity ratio of 1.27, a current ratio of 4.59 and a quick ratio of 3.91. The stock’s 50-day simple moving average is $30.89 and its two-hundred day simple moving average is $24.83.

TG Therapeutics (NASDAQ:TGTX) last announced its quarterly earnings data on Monday, November 4th. The biopharmaceutical company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). TG Therapeutics had a negative net margin of 5.42% and a negative return on equity of 8.32%. The business had revenue of $83.90 million during the quarter, compared to analysts’ expectations of $81.68 million. During the same quarter in the previous year, the firm earned $0.73 earnings per share. TG Therapeutics’s revenue was down 49.4% on a year-over-year basis. Equities research analysts expect that TG Therapeutics, Inc. will post 0.17 EPS for the current year.

Insiders Place Their Bets

In other TG Therapeutics news, Director Sagar Lonial sold 5,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $30.44, for a total transaction of $152,200.00. Following the completion of the transaction, the director now owns 100,195 shares of the company’s stock, valued at $3,049,935.80. This represents a 4.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 10.50% of the stock is currently owned by corporate insiders.

Institutional Trading of TG Therapeutics

Large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in shares of TG Therapeutics by 60.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 720,798 shares of the biopharmaceutical company’s stock worth $16,859,000 after purchasing an additional 270,286 shares during the period. Principal Financial Group Inc. boosted its stake in TG Therapeutics by 1,549.4% during the third quarter. Principal Financial Group Inc. now owns 772,188 shares of the biopharmaceutical company’s stock worth $18,061,000 after buying an additional 725,371 shares during the period. Franklin Resources Inc. increased its position in TG Therapeutics by 3.8% during the third quarter. Franklin Resources Inc. now owns 128,985 shares of the biopharmaceutical company’s stock valued at $2,945,000 after acquiring an additional 4,756 shares during the last quarter. Synovus Financial Corp purchased a new stake in shares of TG Therapeutics in the third quarter valued at $465,000. Finally, Teachers Retirement System of The State of Kentucky purchased a new position in shares of TG Therapeutics during the 3rd quarter worth about $1,039,000. Institutional investors own 58.58% of the company’s stock.

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.