TG Therapeutics (NASDAQ:TGTX) Sets New 1-Year High – Here’s What Happened

TG Therapeutics, Inc. (NASDAQ:TGTX)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $57.38 and last traded at $56.07, with a volume of 284057 shares. The stock had previously closed at $53.22.

Analysts Set New Price Targets

Several brokerages recently weighed in on TGTX. Weiss Ratings upgraded TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 1st. Jefferies Financial Group reaffirmed a “buy” rating and set a $83.00 price objective on shares of TG Therapeutics in a research note on Monday. HC Wainwright reaffirmed a “buy” rating and set a $70.00 target price on shares of TG Therapeutics in a report on Wednesday, May 27th. Finally, Zacks Research upgraded shares of TG Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $58.60.

TG Therapeutics Trading Down 0.8%

The company has a debt-to-equity ratio of 1.28, a quick ratio of 5.12 and a current ratio of 5.81. The company has a 50 day moving average of $40.99 and a two-hundred day moving average of $34.10. The stock has a market cap of $8.26 billion, a PE ratio of 18.86 and a beta of 1.68.

TG Therapeutics (NASDAQ:TGTX) last issued its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.11). The business had revenue of $204.92 million for the quarter, compared to analysts’ expectations of $200.33 million. TG Therapeutics had a return on equity of 88.73% and a net margin of 65.95%.The business’s revenue for the quarter was up 69.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.03 EPS. Sell-side analysts anticipate that TG Therapeutics, Inc. will post 1.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TG Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Danske Bank A S purchased a new position in TG Therapeutics during the third quarter valued at $25,000. Optiver Holding B.V. raised its position in shares of TG Therapeutics by 3,485.7% during the 3rd quarter. Optiver Holding B.V. now owns 753 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 732 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of TG Therapeutics by 51.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the biopharmaceutical company’s stock worth $35,000 after purchasing an additional 365 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in TG Therapeutics by 82.7% in the 4th quarter. Hantz Financial Services Inc. now owns 1,237 shares of the biopharmaceutical company’s stock valued at $37,000 after buying an additional 560 shares in the last quarter. Finally, Truvestments Capital LLC lifted its stake in TG Therapeutics by 172.4% in the 4th quarter. Truvestments Capital LLC now owns 1,621 shares of the biopharmaceutical company’s stock valued at $48,000 after buying an additional 1,026 shares in the last quarter. Hedge funds and other institutional investors 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.