TG Therapeutics (NASDAQ:TGTX) Trading Down 5.9% – Here’s Why

TG Therapeutics, Inc. (NASDAQ:TGTX) shares traded down 5.9% during mid-day trading on Monday . The stock traded as low as $30.00 and last traded at $30.3450. 1,156,140 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 2,346,815 shares. The stock had previously closed at $32.24.

Wall Street Analyst Weigh In

Several analysts recently commented on TGTX shares. HC Wainwright assumed coverage on shares of TG Therapeutics in a research report on Monday, October 6th. They set a “buy” rating and a $60.00 price target on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of TG Therapeutics in a research report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price target on TG Therapeutics from $46.00 to $49.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. B. Riley raised TG Therapeutics to a “strong-buy” rating in a report on Tuesday, November 4th. Finally, Wall Street Zen raised TG Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $50.25.

TG Therapeutics Price Performance

The company has a 50-day moving average of $33.91 and a 200 day moving average of $34.64. The company has a quick ratio of 2.96, a current ratio of 3.86 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $4.81 billion, a PE ratio of 81.92 and a beta of 1.95.

TG Therapeutics (NASDAQ:TGTX) last announced its earnings results on Monday, November 3rd. The biopharmaceutical company reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $2.19. TG Therapeutics had a net margin of 13.31% and a return on equity of 26.05%. The company had revenue of $161.71 million for the quarter, compared to analysts’ expectations of $152.12 million. During the same quarter in the previous year, the company posted $0.02 EPS. The firm’s quarterly revenue was up 92.7% on a year-over-year basis. TG Therapeutics has set its FY 2025 guidance at EPS. Sell-side analysts predict that TG Therapeutics, Inc. will post 0.08 EPS for the current year.

Insider Transactions at TG Therapeutics

In related news, Director Sagar Lonial sold 20,852 shares of the company’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $32.24, for a total transaction of $672,268.48. Following the completion of the sale, the director owned 94,061 shares of the company’s stock, valued at approximately $3,032,526.64. This represents a 18.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 10.64% of the company’s stock.

Institutional Investors Weigh In On TG Therapeutics

Large investors have recently made changes to their positions in the stock. Johnson Financial Group Inc. purchased a new position in TG Therapeutics during the second quarter worth approximately $25,000. Ameritas Advisory Services LLC acquired a new stake in shares of TG Therapeutics in the 2nd quarter worth $25,000. Bessemer Group Inc. boosted its position in shares of TG Therapeutics by 117.1% during the 3rd quarter. Bessemer Group Inc. now owns 901 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 486 shares during the last quarter. Salomon & Ludwin LLC acquired a new position in shares of TG Therapeutics during the 3rd quarter valued at about $34,000. Finally, SVB Wealth LLC purchased a new stake in shares of TG Therapeutics in the first quarter valued at about $37,000. 58.58% of the stock is currently owned by hedge funds and other institutional investors.

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.