TG Therapeutics (NASDAQ:TGTX) Shares Gap Up – Still a Buy?

TG Therapeutics, Inc. (NASDAQ:TGTX)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $36.64, but opened at $38.57. TG Therapeutics shares last traded at $39.92, with a volume of 419,881 shares trading hands.

Analyst Ratings Changes

A number of research analysts have issued reports on TGTX shares. Zacks Research raised TG Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday. Weiss Ratings upgraded shares of TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 1st. Wall Street Zen lowered shares of TG Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Finally, HC Wainwright restated a “buy” rating and set a $70.00 price target on shares of TG Therapeutics in a research report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $52.50.

TG Therapeutics Stock Performance

The stock has a market cap of $6.12 billion, a price-to-earnings ratio of 13.97 and a beta of 1.68. The company has a current ratio of 5.81, a quick ratio of 5.12 and a debt-to-equity ratio of 1.28. The firm has a fifty day simple moving average of $36.35 and a 200-day simple moving average of $32.37.

TG Therapeutics (NASDAQ:TGTX) last released its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.11). TG Therapeutics had a return on equity of 88.73% and a net margin of 65.95%.The firm had revenue of $204.92 million for the quarter, compared to the consensus estimate of $200.33 million. During the same quarter in the previous year, the firm earned $0.03 EPS. The company’s revenue was up 69.5% compared to the same quarter last year. Analysts forecast that TG Therapeutics, Inc. will post 1.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TGTX. Congress Asset Management Co. acquired a new stake in TG Therapeutics during the 4th quarter worth $57,307,000. Nordea Investment Management AB acquired a new position in shares of TG Therapeutics in the 4th quarter valued at $2,356,000. Penn Capital Management Company LLC boosted its position in shares of TG Therapeutics by 17.6% in the 3rd quarter. Penn Capital Management Company LLC now owns 521,260 shares of the biopharmaceutical company’s stock worth $18,877,000 after purchasing an additional 77,895 shares during the last quarter. Public Sector Pension Investment Board boosted its position in shares of TG Therapeutics by 14.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 529,271 shares of the biopharmaceutical company’s stock worth $19,120,000 after purchasing an additional 66,911 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of TG Therapeutics by 56.1% during the third quarter. JPMorgan Chase & Co. now owns 227,934 shares of the biopharmaceutical company’s stock worth $8,234,000 after purchasing an additional 81,907 shares during the period. 58.58% of the stock is currently owned by institutional investors and hedge funds.

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.