RA Capital Management LLC recently announced the acquisition of new stake in TG Therapeutics Inc. (NASDAQ:TGTX). The institutional investor has increased its shareholding in the Healthcare company by 23.11% to 12.79 million shares with purchase of 2.4 million shares. This fresh investment now brings its stake to 10.35% valued currently at $249.12 million. In addition, Fidelity Management & Research Co. raised its holdings by 7.58 million to 9.34 million shares. And BlackRock Fund Advisors has lifted its position by 0.70% or 37992.0 shares – to 5.5 million shares.
With over 2.51 million TG Therapeutics Inc. (TGTX) shares trading Wednesday and a closing price of $19.29 on the day, the dollar volume was approximately $48.41 million. The shares have shown a negative weekly performance of -6.83% and its price on 07/28/20 lost nearly -6.95%. Currently, there are 105.46M common shares owned by the public and among those 84.68M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 6 analysts who have offered their price forecasts for TGTX have a consensus price objective of $39.33. The analysts have set the share’s price value over the next 12 months at a high of $65.00 and a low of $23.00 should the stock experience a downside. Incidentally, analysts’ outlook for the TG Therapeutics Inc. stock is 1.70 for the next 12 months. But an upside of 70.32% will see the stock hit the forecast high price target while mean target price for the stock is $36.00.
Insiders at the company have transacted a total of 15 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 13 of these insider trades were purchases, accounting for 2,066,269 shares. Insider sales of the common stock occurred on 2 occasions, with total insider shares sold totaling 22,745 shares.
The top 3 mutual fund holders in TG Therapeutics Inc. are Fidelity Select Port. – Biotechno, SPDR S&P Biotech ETF, and Vanguard Total Stock Market Index. Fidelity Select Port. – Biotechno owns 3.62 million shares of the company’s stock, all valued at over $70.58 million. The company bought an additional 0.63 million shares recently to bring their total holdings to about 2.93% of the shares outstanding. SPDR S&P Biotech ETF bought 69273.0 shares to see its total holdings expand to 3.38 million shares valued at over $65.82 million and representing 2.74% of the shares outstanding. Vanguard Total Stock Market Index sold 38309.0 shares to bring its total holdings to over 3.05 million shares at a value of $59.42 million. Vanguard Total Stock Market Index now owns shares totaling to 2.47% of the shares outstanding.
Shares of TG Therapeutics Inc. (NASDAQ: TGTX) opened at $20.97, up $0.24 from a prior closing price of $20.73. However, the script later closed the day at $19.29, down -6.95%. The company’s stock has a 5-day price change of -6.83% and 72.89% over the past three months. TGTX shares are trading 86.76% year to date (YTD), with the 12-month market performance up to 180.14% higher. It has a 12-month low price of $4.95 and touched a high of $24.76 over the same period. Currently, 2.51 million shares have been traded, compared to an average intraday trading volume of 2.25 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -12.10%, -4.00%, and 44.93% respectively.
Institutional ownership of TG Therapeutics Inc. (NASDAQ: TGTX) shares accounts for 60.70% of the company’s 105.46M shares outstanding. Mutual fund holders own 25.69%, while other institutional holders and individual stakeholders account for 33.32% and 19.30% respectively.
It has a market capitalization of $2.55B and a beta (3y monthly) value of 2.44. The earnings-per-share (ttm) stands at -$2.01. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.45% over the week and 6.03% over the month.
Analysts forecast that TG Therapeutics Inc. (TGTX) will achieve an EPS of -$0.34 for the current quarter, -$0.33 for the next quarter and -$1.2 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.41 while analysts give the company a high EPS estimate of -$0.27. Comparatively, EPS for the current quarter was -$0.42 a year ago. Earnings per share for the fiscal year are expected to increase by 14.90%, and 23.60% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate TG Therapeutics Inc. (TGTX) as a “Strong Buy” at a consensus score of 1.70. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 0 of the 6 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the TGTX, a number of firms have released research notes about the stock. Evercore ISI stated their Outperform rating for the stock in a research note on June 05, 2020, with the firm’s price target at $60. H.C. Wainwright coverage for the TG Therapeutics Inc. (TGTX) stock in a research note released on January 17, 2020 offered a Buy rating with a price target of $24. B. Riley FBR was of a view on November 27, 2019 that the stock is Buy, while Jefferies gave the stock Buy rating on February 06, 2019, issuing a price target of $8. Raymond James on their part issued Outperform rating on September 25, 2018.