TG Therapeutics (NASDAQ:TGTX) Trading Up 5.2% on Strong Earnings

TG Therapeutics, Inc. (NASDAQ:TGTX) was up 5.2% during mid-day trading on Tuesday following a better than expected earnings announcement. The company traded as high as $36.77 and last traded at $36.22. Approximately 973,114 shares traded hands during trading, a decline of 59% from the average daily volume of 2,388,404 shares. The stock had previously closed at $34.42.

The biopharmaceutical company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.07. The firm had revenue of $108.19 million during the quarter, compared to analysts’ expectations of $100.67 million. TG Therapeutics had a negative net margin of 5.42% and a negative return on equity of 8.32%.

Wall Street Analyst Weigh In

TGTX has been the topic of several research analyst reports. StockNews.com downgraded shares of TG Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. HC Wainwright reissued a “buy” rating and issued a $55.00 price objective on shares of TG Therapeutics in a report on Tuesday. The Goldman Sachs Group raised their target price on TG Therapeutics from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. boosted their price target on TG Therapeutics from $30.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $40.67.

Insider Transactions at TG Therapeutics

In other TG Therapeutics news, CFO Sean A. Power sold 10,021 shares of TG Therapeutics stock in a transaction on Monday, January 6th. The stock was sold at an average price of $28.53, for a total value of $285,899.13. Following the sale, the chief financial officer now owns 660,611 shares in the company, valued at $18,847,231.83. The trade was a 1.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 10.50% of the company’s stock.

Hedge Funds Weigh In On TG Therapeutics

Several large investors have recently made changes to their positions in the stock. Vermillion Wealth Management Inc. purchased a new position in TG Therapeutics during the 4th quarter valued at about $30,000. Quadrant Capital Group LLC grew its holdings in shares of TG Therapeutics by 137.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,686 shares of the biopharmaceutical company’s stock valued at $51,000 after purchasing an additional 975 shares in the last quarter. Blue Trust Inc. increased its stake in TG Therapeutics by 24.5% during the 4th quarter. Blue Trust Inc. now owns 1,887 shares of the biopharmaceutical company’s stock worth $57,000 after buying an additional 371 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of TG Therapeutics by 512.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,905 shares of the biopharmaceutical company’s stock valued at $60,000 after buying an additional 1,594 shares during the period. Finally, Jones Financial Companies Lllp grew its position in shares of TG Therapeutics by 460.7% during the fourth quarter. Jones Financial Companies Lllp now owns 2,114 shares of the biopharmaceutical company’s stock worth $64,000 after buying an additional 1,737 shares in the last quarter. 58.58% of the stock is currently owned by institutional investors and hedge funds.

TG Therapeutics Price Performance

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 has a market capitalization of $5.67 billion, a PE ratio of -364.27 and a beta of 2.30. The stock’s 50 day moving average is $30.79 and its two-hundred day moving average is $28.24.

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.