TG Therapeutics (NASDAQ:TGTX) Trading Down 2.9% – Here’s What Happened

Shares of TG Therapeutics, Inc. (NASDAQ:TGTX) traded down 2.9% on Monday . The company traded as low as $29.01 and last traded at $29.19. 195,725 shares were traded during mid-day trading, a decline of 87% from the average session volume of 1,519,561 shares. The stock had previously closed at $30.05.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TGTX. StockNews.com upgraded TG Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday. The Goldman Sachs Group increased their price target on shares of TG Therapeutics from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. TD Cowen began coverage on shares of TG Therapeutics in a research report on Tuesday, October 29th. They issued a “buy” rating and a $50.00 price objective for the company. JPMorgan Chase & Co. upped their target price on shares of TG Therapeutics from $30.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Finally, HC Wainwright lifted their price target on TG Therapeutics from $49.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, TG Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $40.67.

TG Therapeutics Trading Up 2.8 %

The company has a market cap of $4.48 billion, a price-to-earnings ratio of -287.67 and a beta of 2.24. 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 business’s 50 day moving average price is $31.30 and its 200-day moving average price is $25.23.

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

Insiders Place Their Bets

In related news, CFO Sean A. Power sold 10,021 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 660,611 shares in the company, valued at approximately $18,847,231.83. The trade was a 1.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Sagar Lonial sold 5,000 shares of TG Therapeutics stock in a transaction on Monday, November 11th. The shares were sold at an average price of $30.44, for a total value of $152,200.00. Following the completion of the transaction, the director now directly owns 100,195 shares of the company’s stock, valued at $3,049,935.80. This represents a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,358 shares of company stock worth $781,497 in the last 90 days. Company insiders own 10.50% of the company’s stock.

Institutional Investors Weigh In On TG Therapeutics

A number of large investors have recently bought and sold shares of TGTX. State Street Corp lifted its holdings in shares of TG Therapeutics by 35.8% during the 3rd quarter. State Street Corp now owns 9,094,158 shares of the biopharmaceutical company’s stock worth $212,712,000 after acquiring an additional 2,398,015 shares during the period. Marshall Wace LLP acquired a new position in TG Therapeutics during the second quarter valued at approximately $36,501,000. Principal Financial Group Inc. lifted 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 purchasing an additional 725,371 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of TG Therapeutics in the 2nd quarter valued at $10,423,000. Finally, Public Sector Pension Investment Board acquired a new position in shares of TG Therapeutics during the 3rd quarter worth $6,619,000. 58.58% of the stock is currently owned by institutional investors and hedge funds.

TG Therapeutics Company Profile

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.