TG Therapeutics (NASDAQ:TGTX) Reaches New 1-Year High – Time to Buy?

TG Therapeutics, Inc. (NASDAQ:TGTX) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $41.24 and last traded at $39.1290, with a volume of 1179057 shares trading hands. The stock had previously closed at $36.10.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Weiss Ratings upgraded TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday. Zacks Research lowered TG Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Friday, May 1st. Wall Street Zen lowered TG Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. JPMorgan Chase & Co. reduced their price objective on TG Therapeutics from $49.00 to $46.00 and set an “overweight” rating for the company in a research report on Monday, February 2nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of TG Therapeutics in a research report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, TG Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $50.00.

TG Therapeutics Stock Up 6.9%

The company has a market capitalization of $5.91 billion, a PE ratio of 13.90 and a beta of 1.68. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.10 and a quick ratio of 3.29. The company has a 50-day moving average of $32.24 and a two-hundred day moving average of $31.49.

TG Therapeutics (NASDAQ:TGTX) last posted its earnings results on Thursday, February 26th. The biopharmaceutical company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.21). TG Therapeutics had a return on equity of 101.12% and a net margin of 72.56%.The firm had revenue of $192.57 million during the quarter, compared to analysts’ expectations of $192.15 million. During the same quarter in the prior year, the firm posted $0.15 earnings per share. TG Therapeutics’s quarterly revenue was up 78.0% on a year-over-year basis. Sell-side analysts anticipate that TG Therapeutics, Inc. will post 1.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TG Therapeutics

Several institutional investors have recently bought and sold shares of the company. Bessemer Group Inc. boosted its holdings in TG Therapeutics by 0.5% in the 1st quarter. Bessemer Group Inc. now owns 132,555 shares of the biopharmaceutical company’s stock worth $4,403,000 after buying an additional 603 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in TG Therapeutics by 10.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 18,887 shares of the biopharmaceutical company’s stock valued at $634,000 after acquiring an additional 1,769 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in TG Therapeutics in the first quarter valued at $256,000. Bleakley Financial Group LLC purchased a new stake in TG Therapeutics in the first quarter valued at $386,000. Finally, Fifth Third Bancorp raised its holdings in shares of TG Therapeutics by 4,186.0% in the first quarter. Fifth Third Bancorp now owns 31,759 shares of the biopharmaceutical company’s stock valued at $1,055,000 after buying an additional 31,018 shares during the last quarter. 58.58% of the stock is currently owned by institutional investors and hedge funds.

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.