TG Therapeutics (NASDAQ:TGTX) Shares Gap Down to $11.29

TG Therapeutics, Inc. (NASDAQ:TGTX) gapped down before the market opened on Friday . The stock had previously closed at $11.29, but opened at $10.99. TG Therapeutics shares last traded at $10.29, with a volume of 1,057,470 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. HC Wainwright lifted their price objective on TG Therapeutics from $34.00 to $41.00 and gave the company a “buy” rating in a report on Tuesday, August 1st. B. Riley reissued a “buy” rating and issued a $32.00 target price (down from $42.00) on shares of TG Therapeutics in a report on Tuesday, August 1st. The Goldman Sachs Group raised TG Therapeutics from a “sell” rating to a “neutral” rating and reduced their target price for the stock from $16.00 to $12.00 in a report on Wednesday, August 2nd. StockNews.com downgraded TG Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, August 27th. Finally, JPMorgan Chase & Co. reduced their target price on TG Therapeutics from $34.00 to $22.00 and set an “overweight” rating on the stock in a report on Monday, August 7th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $23.14.

TG Therapeutics Stock Performance

The firm has a fifty day simple moving average of $15.68 and a 200-day simple moving average of $20.12. The company has a current ratio of 2.87, a quick ratio of 2.45 and a debt-to-equity ratio of 2.42. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of -8.13 and a beta of 2.09.

TG Therapeutics (NASDAQ:TGTX) last issued its earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.08). The business had revenue of $16.07 million for the quarter, compared to the consensus estimate of $17.39 million. TG Therapeutics had a negative net margin of 730.34% and a negative return on equity of 309.58%. The business’s revenue was up 2606.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.30) EPS. Analysts forecast that TG Therapeutics, Inc. will post -0.72 EPS for the current fiscal year.

Insider Buying and Selling at TG Therapeutics

In other TG Therapeutics news, Director Sagar Lonial sold 34,854 shares of the company’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $23.37, for a total transaction of $814,537.98. Following the completion of the sale, the director now owns 93,878 shares in the company, valued at approximately $2,193,928.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Sagar Lonial sold 34,854 shares of the company’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $23.37, for a total value of $814,537.98. Following the completion of the sale, the director now owns 93,878 shares in the company, valued at approximately $2,193,928.86. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael S. Weiss acquired 100,000 shares of the stock in a transaction that occurred on Friday, August 11th. The stock was purchased at an average price of $10.13 per share, with a total value of $1,013,000.00. Following the transaction, the chief executive officer now owns 12,073,021 shares in the company, valued at $122,299,702.73. The disclosure for this purchase can be found here. Corporate insiders own 9.20% of the company’s stock.

Institutional Trading of TG Therapeutics

A number of large investors have recently made changes to their positions in TGTX. Advisor Group Holdings Inc. increased its position in shares of TG Therapeutics by 49.5% in the 1st quarter. Advisor Group Holdings Inc. now owns 34,433 shares of the biopharmaceutical company’s stock valued at $328,000 after buying an additional 11,406 shares in the last quarter. Raymond James & Associates increased its holdings in TG Therapeutics by 4.3% during the 1st quarter. Raymond James & Associates now owns 165,994 shares of the biopharmaceutical company’s stock worth $1,579,000 after purchasing an additional 6,860 shares in the last quarter. HighTower Advisors LLC increased its holdings in TG Therapeutics by 28.3% during the 1st quarter. HighTower Advisors LLC now owns 13,603 shares of the biopharmaceutical company’s stock worth $129,000 after purchasing an additional 2,998 shares in the last quarter. MetLife Investment Management LLC increased its holdings in TG Therapeutics by 59.0% during the 1st quarter. MetLife Investment Management LLC now owns 71,269 shares of the biopharmaceutical company’s stock worth $678,000 after purchasing an additional 26,443 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in TG Therapeutics by 0.4% during the 1st quarter. BlackRock Inc. now owns 8,935,578 shares of the biopharmaceutical company’s stock worth $84,978,000 after purchasing an additional 33,413 shares in the last quarter. Institutional investors own 57.92% 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 diseases. 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.