TG Therapeutics, Inc. (NASDAQ:TGTX – Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $57.38 and last traded at $56.07, with a volume of 284057 shares trading hands. The stock had previously closed at $53.22.
Wall Street Analysts Forecast Growth
Several brokerages have commented on TGTX. Zacks Research upgraded shares of TG Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. Weiss Ratings upgraded TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. Finally, HC Wainwright restated a “buy” rating and issued a $70.00 target price on shares of TG Therapeutics in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $52.50.
Read Our Latest Stock Analysis on TGTX
TG Therapeutics Trading Up 3.4%
TG Therapeutics (NASDAQ:TGTX – Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.11). TG Therapeutics had a return on equity of 88.73% and a net margin of 65.95%.The business had revenue of $204.92 million during the quarter, compared to the consensus estimate of $200.33 million. During the same quarter in the previous year, the business earned $0.03 earnings per share. The firm’s revenue was up 69.5% compared to the same quarter last year. Equities research analysts expect that TG Therapeutics, Inc. will post 1.51 earnings per share for the current year.
Hedge Funds Weigh In On TG Therapeutics
Several large investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its position in shares of TG Therapeutics by 51.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the biopharmaceutical company’s stock valued at $35,000 after acquiring an additional 365 shares in the last quarter. Maryland State Retirement & Pension System grew its position in shares of TG Therapeutics by 2.0% during the fourth quarter. Maryland State Retirement & Pension System now owns 19,899 shares of the biopharmaceutical company’s stock worth $593,000 after purchasing an additional 393 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of TG Therapeutics by 1.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,406 shares of the biopharmaceutical company’s stock worth $1,135,000 after purchasing an additional 441 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in TG Therapeutics by 16.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,147 shares of the biopharmaceutical company’s stock valued at $94,000 after purchasing an additional 454 shares during the period. Finally, HB Wealth Management LLC lifted its holdings in TG Therapeutics by 6.7% in the 1st quarter. HB Wealth Management LLC now owns 7,514 shares of the biopharmaceutical company’s stock worth $250,000 after purchasing an additional 475 shares in the last quarter. 58.58% of the stock is currently owned by hedge funds and other institutional investors.
About TG Therapeutics
TG Therapeutics, Inc is a clinical‐stage biopharmaceutical company headquartered in New York City that specializes in developing targeted therapies for hematological malignancies and autoimmune diseases. The company’s research strategy focuses on the modulation of B-cell biology through novel antibody and small‐molecule agents. Since its founding in 2003, TG Therapeutics has built a diversified portfolio aimed at addressing unmet medical needs in oncology and immunology.
In December 2022, TG Therapeutics achieved its first commercial milestone when ublituximab-xiiy (marketed as Briumvi® in collaboration with Biogen) received U.S.
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