TG Therapeutics (NASDAQ:TGTX) Shares Gap Up to $22.03

Shares of TG Therapeutics, Inc. (NASDAQ:TGTX) gapped up before the market opened on Monday . The stock had previously closed at $22.03, but opened at $23.24. TG Therapeutics shares last traded at $23.70, with a volume of 1,313,649 shares traded.

Analysts Set New Price Targets

Several brokerages recently issued reports on TGTX. B. Riley raised their price objective on TG Therapeutics from $29.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group lifted their price target on shares of TG Therapeutics from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, HC Wainwright reiterated a “buy” rating and set a $49.00 price objective on shares of TG Therapeutics in a research note on Tuesday, August 6th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, TG Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.83.

TG Therapeutics Stock Down 0.9 %

The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.83 and a current ratio of 3.58. The company has a market cap of $3.64 billion, a P/E ratio of 102.30 and a beta of 2.21. The stock has a 50 day moving average price of $21.36 and a 200 day moving average price of $17.92.

TG Therapeutics (NASDAQ:TGTX) last issued its earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.08. The firm had revenue of $73.47 million during the quarter, compared to analysts’ expectations of $65.92 million. TG Therapeutics had a net margin of 27.60% and a return on equity of 57.73%. The firm’s revenue for the quarter was up 357.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.34) earnings per share. Research analysts expect that TG Therapeutics, Inc. will post 0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TG Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pingora Partners LLC acquired a new stake in TG Therapeutics during the 4th quarter worth about $27,000. Ashton Thomas Private Wealth LLC purchased a new position in TG Therapeutics during the second quarter valued at approximately $35,000. DekaBank Deutsche Girozentrale purchased a new stake in TG Therapeutics in the 1st quarter worth approximately $58,000. nVerses Capital LLC boosted its stake in shares of TG Therapeutics by 34.9% during the 2nd quarter. nVerses Capital LLC now owns 5,800 shares of the biopharmaceutical company’s stock valued at $103,000 after buying an additional 1,500 shares during the period. Finally, Quarry LP grew its holdings in shares of TG Therapeutics by 9.1% during the 2nd quarter. Quarry LP now owns 6,003 shares of the biopharmaceutical company’s stock valued at $107,000 after acquiring an additional 503 shares in the last quarter. Institutional investors and hedge funds own 58.58% of the company’s stock.

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.