TG Therapeutics (NASDAQ:TGTX) Shares Gap Up – Time to Buy?

Shares of TG Therapeutics, Inc. (NASDAQ:TGTX) gapped up before the market opened on Wednesday . The stock had previously closed at $27.87, but opened at $31.16. TG Therapeutics shares last traded at $30.20, with a volume of 2,367,283 shares traded.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TGTX. Wall Street Zen raised shares of TG Therapeutics from a “hold” rating to a “buy” rating in a report on Sunday, December 14th. B. Riley raised shares of TG Therapeutics to a “strong-buy” rating in a research note on Tuesday, November 4th. Weiss Ratings reiterated a “hold (c+)” rating on shares of TG Therapeutics in a report on Monday, December 29th. JPMorgan Chase & Co. boosted their target price on TG Therapeutics from $46.00 to $49.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. Finally, HC Wainwright assumed coverage on TG Therapeutics in a research note on Monday, October 6th. They set a “buy” rating and a $60.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $50.25.

TG Therapeutics Stock Performance

The company has a debt-to-equity ratio of 0.40, a current ratio of 3.82 and a quick ratio of 2.89. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of 10.61 and a beta of 1.86. The firm’s fifty day simple moving average is $30.94 and its 200 day simple moving average is $32.60.

TG Therapeutics (NASDAQ:TGTX) last issued its earnings results on Monday, November 3rd. The biopharmaceutical company reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $2.19. The firm had revenue of $161.71 million for the quarter, compared to the consensus estimate of $152.12 million. TG Therapeutics had a return on equity of 133.24% and a net margin of 84.13%.The business’s quarterly revenue was up 92.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 earnings per share. On average, sell-side analysts forecast that TG Therapeutics, Inc. will post 0.08 EPS for the current year.

Insiders Place Their Bets

In other TG Therapeutics news, Director Yann Echelard sold 5,000 shares of TG Therapeutics stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $32.57, for a total transaction of $162,850.00. Following the sale, the director directly owned 223,816 shares of the company’s stock, valued at approximately $7,289,687.12. The trade was a 2.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 10.64% of the company’s stock.

Institutional Investors Weigh In On TG Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Johnson Financial Group Inc. bought a new stake in TG Therapeutics in the second quarter valued at about $25,000. Ameritas Advisory Services LLC bought a new stake in shares of TG Therapeutics in the second quarter valued at about $25,000. Danske Bank A S acquired a new position in TG Therapeutics during the 3rd quarter worth approximately $25,000. Optiver Holding B.V. grew its position in TG Therapeutics by 3,485.7% in the third quarter. Optiver Holding B.V. now owns 753 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 732 shares in the last quarter. Finally, Bessemer Group Inc. lifted its position in TG Therapeutics by 117.1% during the 3rd quarter. Bessemer Group Inc. now owns 901 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 486 shares in the last quarter. Institutional investors own 58.58% of the company’s stock.

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.