TG Therapeutics Inc. [NASDAQ: TGTX] surged by $1.48 during the normal trading session on Monday and reaching a high of $45.59 during the day while it closed the day at $43.75. The company report on December 15, 2020 that TG Therapeutics Announces Pricing of Upsized Public Offering of Common Stock.
TG Therapeutics, Inc. (NASDAQ: TGTX), a biopharmaceutical company developing medicines for patients with B-cell mediated diseases (“the Company”), announced the pricing of an underwritten public offering of 6,320,000 shares of common stock at a public offering price of $43.50 per share. Gross proceeds to the Company from the offering are expected to be approximately $275,000,000 before deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 948,000 shares of common stock in connection with the offering. All shares are being sold by the Company. The offering is expected to close on December 17, 2020, subject to the satisfaction of customary closing conditions. The offering was upsized from the previously announced offering size of approximately $200,000,000 of common stock.
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The Company anticipates using net proceeds from the offering to fund the continued development of ublituximab and umbralisib, the potential in-license, acquisition, development and commercialization of other pharmaceutical products, and for general corporate purposes.
TG Therapeutics Inc. stock has also gained 56.64% of its value over the past 7 days. However, TGTX stock has inclined by 73.40% in the 3 months of the year. Over the past six months meanwhile, it has gained 140.52% and gained 294.14% year-on date.
The market cap for TGTX stock reached $5.68 billion, with 119.18 million shares outstanding and 101.81 million shares in the current float. Compared to the average trading volume of 1.92M shares, TGTX reached a trading volume of 3292069 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about TG Therapeutics Inc. [TGTX]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TGTX shares is $51.43 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TGTX stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
JP Morgan have made an estimate for TG Therapeutics Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on September 01, 2020. While these analysts kept the previous recommendation, H.C. Wainwright raised their target price from $32 to $38. The new note on the price target was released on August 11, 2020, representing the official price target for TG Therapeutics Inc. stock. Previously, the target price had yet another raise to $60, while Evercore ISI analysts kept a Outperform rating on TGTX stock. On January 17, 2020, analysts increased their price target for TGTX shares from 20 to 24.
The Average True Range (ATR) for TG Therapeutics Inc. is set at 2.88, with the Price to Sales ratio for TGTX stock in the period of the last 12 months amounting to 28389.38. The Price to Book ratio for the last quarter was 30.59, with the Price to Cash per share for the same quarter was set at 1.96.
TGTX stock trade performance evaluation
TG Therapeutics Inc. [TGTX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 56.64. With this latest performance, TGTX shares gained by 58.86% in over the last four-week period, additionally plugging by 140.52% over the last 6 months – not to mention a rise of 333.17% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TGTX stock in for the last two-week period is set at 80.19, with the RSI for the last a single of trading hit 85.61, and the three-weeks RSI is set at 76.88 for TG Therapeutics Inc. [TGTX]. The present Moving Average for the last 50 days of trading for this stock 29.47, while it was recorded at 37.54 for the last single week of trading, and 21.10 for the last 200 days.
TG Therapeutics Inc. [TGTX]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and TG Therapeutics Inc. [TGTX] shares currently have an operating margin of -112009.87. TG Therapeutics Inc.’s Net Margin is presently recorded at -113730.92.
Return on Total Capital for TGTX is now -328.32, given the latest momentum, and Return on Invested Capital for the company is -339.50. Return on Equity for this stock declined to -551.85, with Return on Assets sitting at -140.19. When it comes to the capital structure of this company, TG Therapeutics Inc. [TGTX] has a Total Debt to Total Equity ratio set at 106.16. Additionally, TGTX Total Debt to Total Capital is recorded at 51.49, with Total Debt to Total Assets ending up at 25.15. Long-Term Debt to Equity for the company is recorded at 101.48, with the Long-Term Debt to Total Capital now at 49.23.
Reflecting on the efficiency of the workforce at the company, TG Therapeutics Inc. [TGTX] managed to generate an average of -$1,290,082 per employee. Receivables Turnover for the company is 3.20 with a Total Asset Turnover recorded at a value of 0.00.TG Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.40 and a Current Ratio set at 3.40.
Earnings per share (EPS) analysis for TG Therapeutics Inc. [TGTX] stock
With the latest financial reports released by the company, TG Therapeutics Inc. posted -0.44/share EPS, while the average EPS was predicted by analysts to be reported at -0.46/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 4.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for TGTX.
TG Therapeutics Inc. [TGTX]: Insider Ownership positions
There are presently around $3,782 million, or 69.60% of TGTX stock, in the hands of institutional investors. The top three institutional holders of TGTX stocks are: FMR LLC with ownership of 10,961,505, which is approximately -13.37% of the company’s market cap and around 1.10% of the total institutional ownership; RA CAPITAL MANAGEMENT, L.P., holding 8,825,849 shares of the stock with an approximate value of $386.13 million in TGTX stocks shares; and BLACKROCK INC., currently with $336.21 million in TGTX stock with ownership of nearly 8.476% of the company’s market capitalization.
Positions in TG Therapeutics Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 107 institutional holders increased their position in TG Therapeutics Inc. [NASDAQ:TGTX] by around 20,178,721 shares. Additionally, 76 investors decreased positions by around 17,711,283 shares, while 26 investors held positions by with 48,561,507 shares. The mentioned changes placed institutional holdings at 86,451,511 shares, according to the latest SEC report filing. TGTX stock had 32 new institutional investments in for a total of 5,547,744 shares, while 26 institutional investors sold positions of 2,562,134 shares during the same period.