Traders Buy High Volume of Call Options on TG Therapeutics (NASDAQ:TGTX)

TG Therapeutics, Inc. (NASDAQ:TGTX) saw unusually large options trading activity on Friday. Investors purchased 5,368 call options on the company. This represents an increase of approximately 73% compared to the average daily volume of 3,103 call options.

TG Therapeutics Trading Up 11.8%

NASDAQ:TGTX traded up $5.95 on Friday, hitting $56.51. 2,057,522 shares of the stock were exchanged, compared to its average volume of 2,205,747. The stock has a fifty day moving average of $52.93 and a 200-day moving average of $40.81. The stock has a market cap of $8.65 billion, a PE ratio of 20.62, a PEG ratio of 2.21 and a beta of 1.62. TG Therapeutics has a fifty-two week low of $26.76 and a fifty-two week high of $59.30. The company has a current ratio of 4.27, a quick ratio of 3.72 and a debt-to-equity ratio of 1.23.

TG Therapeutics (NASDAQ:TGTX) last released its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.26). TG Therapeutics had a return on equity of 73.49% and a net margin of 55.22%.The business had revenue of $240.34 million for the quarter, compared to analysts’ expectations of $229.77 million. During the same quarter in the prior year, the firm earned $0.17 earnings per share. TG Therapeutics’s quarterly revenue was up 70.2% compared to the same quarter last year. As a group, equities analysts expect that TG Therapeutics will post 0.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of TG Therapeutics from $65.00 to $72.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Bank of America upped their target price on TG Therapeutics from $17.00 to $20.00 and gave the company an “underperform” rating in a research note on Tuesday, July 7th. Zacks Research upgraded TG Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. HC Wainwright reissued a “buy” rating and set a $78.00 price target on shares of TG Therapeutics in a research report on Tuesday, August 4th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $83.00 price target on shares of TG Therapeutics in a report on Monday, June 22nd. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, TG Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $63.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in TG Therapeutics during the 2nd quarter worth $1,211,429,000. Bank of America Corp DE acquired a new stake in TG Therapeutics during the second quarter valued at approximately $71,960,000. Bank of New York Mellon Corp acquired a new stake in shares of TG Therapeutics during the 2nd quarter valued at approximately $49,472,000. Man Group plc lifted its position in shares of TG Therapeutics by 621.5% in the 3rd quarter. Man Group plc now owns 1,008,462 shares of the biopharmaceutical company’s stock worth $36,431,000 after buying an additional 868,697 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in TG Therapeutics by 856.6% in the fourth quarter. BNP Paribas Financial Markets now owns 683,653 shares of the biopharmaceutical company’s stock worth $20,380,000 after acquiring an additional 612,189 shares during the last quarter. Institutional investors and hedge funds 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.