TG Therapeutics (TGTX) Stock Price Down 5.1%

TG Therapeutics Inc (NASDAQ:TGTX) dropped 5.1% during mid-day trading on Friday . The stock traded as low as $14.85 and last traded at $14.95. Approximately 1,536,433 shares changed hands during trading, a decline of 6% from the average daily volume of 1,641,365 shares. The stock had previously closed at $15.75.

TGTX has been the topic of several analyst reports. BidaskClub upgraded TG Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday, March 6th. B. Riley restated a “buy” rating and set a $21.50 price objective on shares of TG Therapeutics in a report on Wednesday, January 17th. HC Wainwright restated a “buy” rating and set a $33.00 price objective on shares of TG Therapeutics in a report on Monday, January 8th. Zacks Investment Research cut TG Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, January 13th. Finally, ValuEngine upgraded TG Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $24.60.

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The firm has a market cap of $1,129.92, a price-to-earnings ratio of -7.83 and a beta of 1.40.

TG Therapeutics (NASDAQ:TGTX) last posted its quarterly earnings data on Thursday, March 8th. The biopharmaceutical company reported ($0.46) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.46). TG Therapeutics had a negative return on equity of 145.58% and a negative net margin of 77,945.40%. The business had revenue of $0.04 million for the quarter, compared to analysts’ expectations of $0.04 million. research analysts expect that TG Therapeutics Inc will post -1.68 earnings per share for the current year.

In related news, CFO Sean A. Power sold 32,006 shares of TG Therapeutics stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $8.50, for a total value of $272,051.00. Following the transaction, the chief financial officer now owns 517,464 shares in the company, valued at $4,398,444. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 16.70% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of TGTX. Senzar Asset Management LLC boosted its holdings in TG Therapeutics by 56.9% in the fourth quarter. Senzar Asset Management LLC now owns 1,355,178 shares of the biopharmaceutical company’s stock valued at $11,112,000 after acquiring an additional 491,678 shares during the last quarter. University of Notre Dame DU Lac acquired a new position in TG Therapeutics in the fourth quarter valued at $2,483,000. Goldman Sachs Group Inc. boosted its holdings in TG Therapeutics by 1,335.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 311,793 shares of the biopharmaceutical company’s stock valued at $2,557,000 after acquiring an additional 290,066 shares during the last quarter. Kennedy Capital Management Inc. boosted its holdings in TG Therapeutics by 39.0% in the fourth quarter. Kennedy Capital Management Inc. now owns 585,439 shares of the biopharmaceutical company’s stock valued at $4,801,000 after acquiring an additional 164,210 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in TG Therapeutics by 176.8% in the third quarter. Schwab Charles Investment Management Inc. now owns 243,485 shares of the biopharmaceutical company’s stock valued at $2,886,000 after acquiring an additional 155,535 shares during the last quarter. Hedge funds and other institutional investors own 50.63% of the company’s stock.

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About TG Therapeutics

TG Therapeutics, Inc (TG) is a biopharmaceutical company focused on the acquisition, development and commercialization of treatments for B-cell malignancies and autoimmune diseases. As of December 31, 2016, the Company was developing two therapies targeting hematological malignancies. TG-1101 (ublituximab) is a glycoengineered monoclonal antibody that targets a specific epitope on the cluster of differentiation (CD20) antigen found on mature B-lymphocytes.

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