TG Therapeutics (NASDAQ:TGTX) Sets New 1-Year High – Still a Buy?

TG Therapeutics, Inc. (NASDAQ:TGTX) reached a new 52-week high on Wednesday . The company traded as high as $42.36 and last traded at $42.14, with a volume of 1394831 shares changing hands. The stock had previously closed at $39.88.

Analysts Set New Price Targets

A number of analysts recently weighed in on TGTX shares. HC Wainwright restated a “buy” rating and issued a $55.00 price objective on shares of TG Therapeutics in a report on Tuesday, March 4th. StockNews.com upgraded TG Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. increased their price target on TG Therapeutics from $30.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, TG Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.67.

TG Therapeutics Stock Performance

The firm has a market cap of $6.65 billion, a P/E ratio of -423.50 and a beta of 2.30. The company has a current ratio of 4.59, a quick ratio of 3.91 and a debt-to-equity ratio of 1.27. The company’s 50-day moving average is $32.35 and its two-hundred day moving average is $29.32.

TG Therapeutics (NASDAQ:TGTX) last posted its earnings results on Monday, March 3rd. The biopharmaceutical company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.08 by $0.07. TG Therapeutics had a negative net margin of 5.42% and a negative return on equity of 8.32%. The firm had revenue of $108.19 million for the quarter, compared to analysts’ expectations of $100.67 million. As a group, equities analysts predict that TG Therapeutics, Inc. will post 0.08 EPS for the current fiscal year.

Insider Transactions at TG Therapeutics

In other news, CFO Sean A. Power sold 10,021 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $28.53, for a total transaction of $285,899.13. Following the completion of the sale, the chief financial officer now owns 660,611 shares in the company, valued at $18,847,231.83. This trade represents a 1.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 10.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. State Street Corp increased its holdings in shares of TG Therapeutics by 35.8% in the third quarter. State Street Corp now owns 9,094,158 shares of the biopharmaceutical company’s stock worth $212,712,000 after purchasing an additional 2,398,015 shares during the period. Clearbridge Investments LLC bought a new position in TG Therapeutics in the fourth quarter valued at $55,237,000. Principal Financial Group Inc. increased its stake in TG Therapeutics by 1,549.4% in the third quarter. Principal Financial Group Inc. now owns 772,188 shares of the biopharmaceutical company’s stock valued at $18,061,000 after acquiring an additional 725,371 shares during the last quarter. Raymond James Financial Inc. bought a new position in TG Therapeutics in the fourth quarter valued at $14,508,000. Finally, Braun Stacey Associates Inc. purchased a new stake in TG Therapeutics during the fourth quarter valued at about $13,328,000. 58.58% of the stock is currently owned by hedge funds and other institutional investors.

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.