TG Therapeutics (NASDAQ:TGTX) Trading Up 10.1% – Time to Buy?

TG Therapeutics, Inc. (NASDAQ:TGTX) shares traded up 10.1% during mid-day trading on Friday . The company traded as high as $55.69 and last traded at $55.69. Approximately 783,540 shares changed hands during trading, a decline of 64% from the average daily volume of 2,197,085 shares. The stock had previously closed at $50.56.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TGTX. JPMorgan Chase & Co. raised their price target on shares of TG Therapeutics from $65.00 to $72.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Bank of America raised their price target on TG Therapeutics from $17.00 to $20.00 and gave the stock an “underperform” rating in a report on Tuesday, July 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of TG Therapeutics in a research note on Wednesday, July 29th. Jefferies Financial Group reissued a “buy” rating and set a $83.00 price target on shares of TG Therapeutics in a report on Monday, June 22nd. Finally, B. Riley Financial boosted their price objective on TG Therapeutics from $55.00 to $86.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, TG Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $63.00.

TG Therapeutics Stock Performance

The firm’s 50 day simple moving average is $52.93 and its 200-day simple moving average is $40.81. The company has a market capitalization of $8.43 billion, a price-to-earnings ratio of 20.11, a P/E/G ratio of 2.21 and a beta of 1.62. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.72 and a current ratio of 4.27.

TG Therapeutics (NASDAQ:TGTX) last released its earnings results on Monday, August 3rd. The biopharmaceutical company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.26). TG Therapeutics had a net margin of 55.22% and a return on equity of 73.49%. The business had revenue of $240.34 million for the quarter, compared to analysts’ expectations of $229.77 million. During the same period last year, the firm earned $0.17 EPS. The company’s revenue was up 70.2% compared to the same quarter last year. Analysts expect that TG Therapeutics, Inc. will post 0.92 EPS for the current year.

Hedge Funds Weigh In On TG Therapeutics

A number of hedge funds have recently added to or reduced their stakes in TGTX. Sigma Planning Corp bought a new position in shares of TG Therapeutics during the 2nd quarter valued at $845,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in TG Therapeutics by 5.9% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 249,256 shares of the biopharmaceutical company’s stock valued at $13,694,000 after purchasing an additional 13,779 shares during the period. Van ECK Associates Corp bought a new stake in shares of TG Therapeutics in the second quarter valued at approximately $432,000. Wellington Management Group LLP grew its position in TG Therapeutics by 697.6% in the 2nd quarter. Wellington Management Group LLP now owns 478,265 shares of the biopharmaceutical company’s stock worth $26,276,000 after purchasing an additional 418,300 shares during the last quarter. Finally, Empowered Funds LLC bought a new position in TG Therapeutics during the second quarter valued at about $291,000. Institutional investors and hedge funds own 58.58% of the company’s stock.

About TG Therapeutics

TG Therapeutics, Inc is a clinical‐stage biopharmaceutical company headquartered in New York City that specializes in developing targeted therapies for hematological malignancies and autoimmune diseases. The company’s research strategy focuses on the modulation of B-cell biology through novel antibody and small‐molecule agents. Since its founding in 2003, TG Therapeutics has built a diversified portfolio aimed at addressing unmet medical needs in oncology and immunology.

In December 2022, TG Therapeutics achieved its first commercial milestone when ublituximab-xiiy (marketed as Briumvi® in collaboration with Biogen) received U.S.