Shares of TG Therapeutics, Inc. (NASDAQ:TGTX) dropped 7.2% during trading on Tuesday . The stock traded as low as $11.55 and last traded at $11.55. Approximately 1,601,665 shares were traded during trading, an increase of 17% from the average daily volume of 1,368,950 shares. The stock had previously closed at $12.45.
TGTX has been the topic of several research analyst reports. BidaskClub cut shares of TG Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 6th. Zacks Investment Research raised shares of TG Therapeutics from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Thursday, July 13th. Jefferies Group LLC reissued a “buy” rating and set a $23.00 price target on shares of TG Therapeutics in a research note on Monday, June 5th. ValuEngine raised shares of TG Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, FBR & Co reissued a “buy” rating on shares of TG Therapeutics in a research note on Saturday, June 17th. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $25.40.
The stock’s 50-day moving average price is $11.48 and its 200 day moving average price is $11.09. The firm’s market cap is $719.68 million.
TG Therapeutics (NASDAQ:TGTX) last announced its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.45) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.46) by $0.01. TG Therapeutics had a negative net margin of 68,806.59% and a negative return on equity of 154.02%. The firm had revenue of $0.04 million during the quarter, compared to analysts’ expectations of $0.04 million. Equities analysts predict that TG Therapeutics, Inc. will post ($1.84) EPS for the current year.
In other TG Therapeutics news, CFO Sean A. Power sold 59,976 shares of the company’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $11.09, for a total value of $665,133.84. Following the completion of the transaction, the chief financial officer now directly owns 477,464 shares in the company, valued at approximately $5,295,075.76. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 16.70% of the company’s stock.
Large investors have recently bought and sold shares of the company. Legal & General Group Plc boosted its stake in shares of TG Therapeutics by 4.1% in the 1st quarter. Legal & General Group Plc now owns 9,801 shares of the biopharmaceutical company’s stock valued at $113,000 after purchasing an additional 384 shares during the last quarter. BB&T Securities LLC bought a new stake in shares of TG Therapeutics in the 1st quarter valued at $121,000. Hollencrest Securities LLC bought a new stake in shares of TG Therapeutics in the 2nd quarter valued at $121,000. Bank of America Corp DE boosted its stake in shares of TG Therapeutics by 11.0% in the 1st quarter. Bank of America Corp DE now owns 14,076 shares of the biopharmaceutical company’s stock valued at $164,000 after purchasing an additional 1,395 shares during the last quarter. Finally, UBS Group AG boosted its stake in shares of TG Therapeutics by 34.4% in the 1st quarter. UBS Group AG now owns 14,606 shares of the biopharmaceutical company’s stock valued at $171,000 after purchasing an additional 3,736 shares during the last quarter. 49.91% of the stock is currently owned by institutional investors.
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TG Therapeutics Company Profile
TG Therapeutics, Inc (TG) is a biopharmaceutical company focused on the acquisition, development and commercialization of treatments for B-cell malignancies and autoimmune diseases. As of December 31, 2016, the Company was developing two therapies targeting hematological malignancies. TG-1101 (ublituximab) is a glycoengineered monoclonal antibody that targets a specific epitope on the cluster of differentiation (CD20) antigen found on mature B-lymphocytes.
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