TG Therapeutics (NASDAQ:TGTX) Trading Down 9% – Should You Sell?

TG Therapeutics, Inc. (NASDAQ:TGTX)’s stock price dropped 9% during mid-day trading on Thursday . The company traded as low as $31.37 and last traded at $31.76. Approximately 2,935,558 shares were traded during mid-day trading, a decline of 20% from the average daily volume of 3,686,909 shares. The stock had previously closed at $34.90.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TGTX. The Goldman Sachs Group boosted their price target on TG Therapeutics from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. HC Wainwright boosted their target price on shares of TG Therapeutics from $49.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. B. Riley raised their price target on shares of TG Therapeutics from $29.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, TD Cowen started coverage on shares of TG Therapeutics in a research note on Tuesday, October 29th. They set a “buy” rating and a $50.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, TG Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $37.67.

TG Therapeutics Price Performance

The firm has a market cap of $4.60 billion, a PE ratio of -295.37 and a beta of 2.19. The company has a quick ratio of 3.91, a current ratio of 4.59 and a debt-to-equity ratio of 1.27. The stock has a 50 day moving average price of $24.74 and a two-hundred day moving average price of $21.07.

TG Therapeutics (NASDAQ:TGTX) last posted its quarterly earnings results on Monday, November 4th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The company had revenue of $83.90 million during the quarter, compared to analysts’ expectations of $81.68 million. TG Therapeutics had a negative return on equity of 8.32% and a negative net margin of 5.42%. The company’s quarterly revenue was down 49.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.73 EPS. As a group, equities analysts expect that TG Therapeutics, Inc. will post 0.17 earnings per share for the current year.

Insider Buying and Selling at TG Therapeutics

In other news, Director Sagar Lonial sold 5,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $30.44, for a total value of $152,200.00. Following the sale, the director now directly owns 100,195 shares of the company’s stock, valued at $3,049,935.80. This represents a 4.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 10.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. State Street Corp grew its position in TG Therapeutics by 35.8% during the 3rd quarter. State Street Corp now owns 9,094,158 shares of the biopharmaceutical company’s stock worth $212,712,000 after purchasing an additional 2,398,015 shares during the period. Marshall Wace LLP purchased a new stake in shares of TG Therapeutics in the second quarter worth about $36,501,000. Hood River Capital Management LLC acquired a new stake in TG Therapeutics during the first quarter worth about $22,420,000. Principal Financial Group Inc. raised its position in TG Therapeutics by 1,549.4% during the third quarter. Principal Financial Group Inc. now owns 772,188 shares of the biopharmaceutical company’s stock valued at $18,061,000 after acquiring an additional 725,371 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in TG Therapeutics in the second quarter valued at approximately $10,423,000. Hedge funds and other institutional investors own 58.58% of the company’s stock.

TG Therapeutics Company Profile

TG Therapeutics, Inc, a commercial stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel treatments for B-cell mediated diseases in the United States and internationally. It provides BRIUMVI, an anti-CD20 monoclonal antibody for the treatment of adult patients with relapsing forms of multiple sclerosis (RMS), including clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease in adults.