Laurence Charney Sells 5,000 Shares of TG Therapeutics (NASDAQ:TGTX) Stock

TG Therapeutics, Inc. (NASDAQ:TGTX) Director Laurence Charney sold 5,000 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $54.96, for a total value of $274,800.00. Following the completion of the transaction, the director directly owned 168,640 shares of the company’s stock, valued at $9,268,454.40. This trade represents a 2.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

TG Therapeutics Stock Down 1.8%

TGTX opened at $53.04 on Wednesday. The stock’s 50 day moving average price is $53.51 and its 200 day moving average price is $44.10. The company has a debt-to-equity ratio of 1.23, a current ratio of 4.27 and a quick ratio of 3.72. The stock has a market cap of $8.12 billion, a P/E ratio of 19.36, a P/E/G ratio of 2.31 and a beta of 1.67. TG Therapeutics, Inc. has a 12 month low of $26.76 and a 12 month high of $59.30.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TGTX. Tidal Investments LLC bought a new stake in shares of TG Therapeutics during the 2nd quarter worth $1,351,000. Gemmer Asset Management LLC acquired a new position in shares of TG Therapeutics in the 2nd quarter worth $217,000. Engineers Gate Manager LP acquired a new stake in shares of TG Therapeutics during the second quarter worth $589,000. NewEdge Advisors LLC raised its position in shares of TG Therapeutics by 15.3% during the second quarter. NewEdge Advisors LLC now owns 10,103 shares of the biopharmaceutical company’s stock worth $555,000 after purchasing an additional 1,343 shares during the period. Finally, IFP Advisors Inc lifted its holdings in shares of TG Therapeutics by 1.3% during the second quarter. IFP Advisors Inc now owns 209,318 shares of the biopharmaceutical company’s stock valued at $11,500,000 after purchasing an additional 2,780 shares during the last quarter. 58.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on TGTX. Jefferies Financial Group reiterated a “buy” rating and issued a $83.00 target price on shares of TG Therapeutics in a research report on Monday, June 22nd. HC Wainwright restated a “buy” rating and set a $78.00 price target on shares of TG Therapeutics in a research report on Tuesday, September 1st. JPMorgan Chase & Co. upped their price target on shares of TG Therapeutics from $65.00 to $72.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. B. Riley Financial increased their price objective on shares of TG Therapeutics from $55.00 to $86.00 and gave the company a “buy” rating in a report on Monday, July 27th. Finally, Bank of America raised their price objective on shares of TG Therapeutics from $17.00 to $20.00 and gave the company an “underperform” rating in a research note on Tuesday, July 7th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $63.00.

About TG Therapeutics

TG Therapeutics, Inc is a commercial-stage biopharmaceutical company focused on developing and delivering treatments for B-cell diseases and autoimmune disorders. The company’s research and development programs are centered on therapies that target B cells, which play an important role in several immune-mediated conditions.

TG Therapeutics’ principal product is BRIUMVI (ublituximab-xiiy), an anti-CD20 monoclonal antibody approved by the U.S. Food and Drug Administration for the treatment of adults with relapsing forms of multiple sclerosis, including clinically isolated syndrome, relapsing-remitting multiple sclerosis and active secondary progressive multiple sclerosis.