TG Therapeutics (NASDAQ:TGTX) Hits New 52-Week High – Still a Buy?

TG Therapeutics, Inc. (NASDAQ:TGTX)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $50.60 and last traded at $50.30, with a volume of 2580380 shares changing hands. The stock had previously closed at $49.52.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and issued a $70.00 price objective on shares of TG Therapeutics in a research report on Wednesday, May 27th. Zacks Research raised TG Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. Finally, Weiss Ratings raised TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $52.50.

TG Therapeutics Stock Performance

The firm has a market capitalization of $7.70 billion, a price-to-earnings ratio of 17.59 and a beta of 1.68. The company has a fifty day moving average of $38.72 and a two-hundred day moving average of $33.24. The company has a debt-to-equity ratio of 1.28, a quick ratio of 5.12 and a current ratio of 5.81.

TG Therapeutics (NASDAQ:TGTX) last released its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.11). The firm had revenue of $204.92 million for the quarter, compared to analyst estimates of $200.33 million. TG Therapeutics had a return on equity of 88.73% and a net margin of 65.95%.The business’s revenue for the quarter was up 69.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.03 earnings per share. As a group, equities research analysts predict that TG Therapeutics, Inc. will post 1.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TG Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Danske Bank A S acquired a new position in TG Therapeutics in the 3rd quarter valued at $25,000. Optiver Holding B.V. raised its holdings in 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 in the last quarter. Bessemer Group Inc. raised its holdings in TG Therapeutics by 117.1% in 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 in the last quarter. EverSource Wealth Advisors LLC raised its holdings in TG Therapeutics by 51.9% in the 1st 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. Finally, Hantz Financial Services Inc. raised its holdings in TG Therapeutics by 82.7% in the 4th quarter. Hantz Financial Services Inc. now owns 1,237 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 560 shares in the last quarter. 58.58% of the stock is owned by institutional investors and hedge funds.

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.