TG Therapeutics Experiences Surge in Trading Volume Following Impressive Earnings Report

TG Therapeutics, Inc. (NASDAQ:TGTX) saw a significant increase in trading activity on Monday after the company released an earnings report that exceeded expectations. The trading volume reached 3,051,440 shares, marking a 42% rise from the previous session's volume of 2,147,864 shares. The stock price was last seen at $35.04, an increase from its prior closing of $30.09.

The biopharmaceutical firm reported earnings per share (EPS) of $0.15 for the quarter, which surpassed the consensus estimate of $0.09 by $0.06. Despite the strong earnings, TG Therapeutics reported a negative return on equity of 8.32% and a negative net margin of 5.42%.

Wall Street Analysts' Perspectives

A variety of financial analysts have recently commented on TG Therapeutics. HC Wainwright reaffirmed a "buy" rating and set a price target of $55.00 in a report dated January 15th. Similarly, JPMorgan Chase & Co. raised their price objective for TG Therapeutics from $30.00 to $43.00 and provided an "overweight" rating in a report from November 25th. Meanwhile, StockNews.com downgraded the stock from a "hold" to a "sell" rating on January 31st. The Goldman Sachs Group increased their target from $20.00 to $22.00 and assigned a "neutral" rating in their November 5th report. Currently, one analyst rates the stock as a "sell," another as a "hold," while five analysts recommend it as a "buy." According to MarketBeat.com, TG Therapeutics holds a consensus rating of "Moderate Buy" with an average price target of $40.67.

Insider Trading Activity

In other updates, Chief Financial Officer (CFO) Sean A. Power sold 10,021 shares of the company's stock on January 6th for an average price of $28.53, totaling approximately $285,899.13. After this transaction, the CFO retains ownership of 660,611 shares, valued at about $18,847,231.83, which represents a 1.49% reduction in his stake. This sale was disclosed in a filing with the Securities and Exchange Commission (SEC). Currently, insiders hold approximately 10.50% of the company's stock.

Institutional Investment Overview

Several hedge funds have been active in adjusting their stakes in TG Therapeutics. Bleakley Financial Group LLC entered a new position in the fourth quarter, valued at $245,000. Castellan Group also made a significant investment of $8,539,000 in the same quarter. Oppenheimer & Co. Inc. acquired a new stake valued at $759,000 in the third quarter, while Segall Bryant & Hamill LLC invested around $1,225,000 during the same timeframe. Additionally, Barclays PLC increased its stake in TG Therapeutics by 83.9%, now owning 347,057 shares valued at approximately $8,117,000. Institutional investors collectively own about 58.58% of the company's shares.

TG Therapeutics Stock Overview

The company's financial metrics reveal a debt-to-equity ratio of 1.27, a current ratio of 4.59, and a quick ratio of 3.91. TG Therapeutics has a market capitalization of $5.37 billion, a price-to-earnings (P/E) ratio of -342.77, and a beta of 2.26. The stock's fifty-day simple moving average stands at $30.75, while the 200-day simple moving average is $28.14.

Company Background

TG Therapeutics, Inc. is a biopharmaceutical company focused on developing and commercializing innovative treatments for diseases mediated by B-cells, both in the U.S. and internationally. The company produces BRIUMVI, an anti-CD20 monoclonal antibody specifically for adults suffering from relapsing forms of multiple sclerosis (RMS), including conditions such as clinically isolated syndrome and active secondary progressive disease.

Therapeutics, Earnings, Stock