TG Therapeutics (NASDAQ:TGTX) Reaches New 12-Month High – Still a Buy?

TG Therapeutics, Inc. (NASDAQ:TGTX) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $57.38 and last traded at $56.07, with a volume of 284057 shares changing hands. The stock had previously closed at $53.22.

Wall Street Analyst Weigh In

TGTX has been the subject of a number of research reports. 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. Zacks Research upgraded shares of TG Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. Finally, HC Wainwright reissued a “buy” rating and set a $70.00 price objective on shares of TG Therapeutics in a report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.50.

TG Therapeutics Trading Up 3.4%

The firm has a market cap of $8.42 billion, a P/E ratio of 19.18 and a beta of 1.68. The stock has a 50 day simple moving average of $40.19 and a 200-day simple moving average of $33.78. The company has a current ratio of 5.81, a quick ratio of 5.12 and a debt-to-equity ratio of 1.28.

TG Therapeutics (NASDAQ:TGTX) last posted 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 net margin of 65.95% and a return on equity of 88.73%. The business had revenue of $204.92 million during the quarter, compared to analysts’ expectations of $200.33 million. During the same period last year, the business posted $0.03 earnings per share. The company’s revenue for the quarter was up 69.5% compared to the same quarter last year. On average, equities research analysts expect that TG Therapeutics, Inc. will post 1.51 EPS for the current fiscal year.

Hedge Funds Weigh In On TG Therapeutics

Several institutional investors have recently bought and sold shares of TGTX. Danske Bank A S purchased a new stake in shares of TG Therapeutics during the 3rd quarter valued at about $25,000. Optiver Holding B.V. lifted its holdings in shares of TG Therapeutics by 3,485.7% in the 3rd quarter. Optiver Holding B.V. now owns 753 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 732 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in TG Therapeutics by 51.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the biopharmaceutical company’s stock worth $35,000 after acquiring an additional 365 shares in the last quarter. Hantz Financial Services Inc. grew its position in TG Therapeutics by 82.7% in the fourth quarter. Hantz Financial Services Inc. now owns 1,237 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 560 shares in the last quarter. Finally, Truvestments Capital LLC grew its position in TG Therapeutics by 172.4% in the fourth quarter. Truvestments Capital LLC now owns 1,621 shares of the biopharmaceutical company’s stock worth $48,000 after acquiring an additional 1,026 shares in the last quarter. Institutional investors own 58.58% of the company’s stock.

TG Therapeutics Company Profile

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.