TG Therapeutics (NASDAQ:TGTX) Shares Gap Up – Still a Buy?

TG Therapeutics, Inc. (NASDAQ:TGTX) gapped up before the market opened on Tuesday . The stock had previously closed at $24.35, but opened at $26.02. TG Therapeutics shares last traded at $24.82, with a volume of 814,518 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TGTX. HC Wainwright reissued a “buy” rating and set a $49.00 target price on shares of TG Therapeutics in a research report on Wednesday, September 18th. B. Riley raised their target price on shares of TG Therapeutics from $29.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. TD Cowen started coverage on shares of TG Therapeutics in a report on Tuesday. They set a “buy” rating and a $50.00 target price for the company. Finally, The Goldman Sachs Group raised their price target on shares of TG Therapeutics from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $34.43.

TG Therapeutics Stock Performance

The firm’s fifty day moving average price is $23.42 and its 200-day moving average price is $19.77. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of 111.17 and a beta of 2.21. The company has a current ratio of 3.58, a quick ratio of 2.83 and a debt-to-equity ratio of 0.58.

TG Therapeutics (NASDAQ:TGTX) last announced its earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.08. The company had revenue of $73.47 million during the quarter, compared to analysts’ expectations of $65.92 million. TG Therapeutics had a net margin of 27.60% and a return on equity of 57.73%. The firm’s quarterly revenue was up 357.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.34) earnings per share. Analysts expect that TG Therapeutics, Inc. will post 0.13 earnings per share for the current year.

Institutional Trading of TG Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. acquired a new stake in shares of TG Therapeutics during the second quarter worth $8,698,000. Marshall Wace LLP bought a new position in TG Therapeutics in the 2nd quarter valued at about $36,501,000. Bank of New York Mellon Corp grew its position in TG Therapeutics by 13.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 503,645 shares of the biopharmaceutical company’s stock valued at $8,960,000 after buying an additional 59,523 shares in the last quarter. Cetera Advisors LLC bought a new position in TG Therapeutics in the 1st quarter valued at about $622,000. Finally, Russell Investments Group Ltd. boosted its position in shares of TG Therapeutics by 133.5% during the 1st quarter. Russell Investments Group Ltd. now owns 52,339 shares of the biopharmaceutical company’s stock valued at $796,000 after purchasing an additional 29,923 shares in the last quarter. 58.58% of the stock is owned by institutional investors and hedge funds.

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.