Market Analysts see TG Therapeutics Inc. [TGTX] gaining to $5. Time to buy?

TG Therapeutics Inc. [NASDAQ: TGTX] gained 63.37% or 3.27 points to close at $8.43 with a heavy trading volume of 13130645 shares. The company report on November 10, 2022 that TG Therapeutics Provides Business Update and Reports Third Quarter 2022 Financial Results.

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Conference call to be held today, November 10, 2022 at 8:30 AM ET.

It opened the trading session at $5.83, the shares rose to $8.84 and dropped to $5.82, the range by which the price of stock traded the whole day. The daily chart for TGTX points out that the company has recorded 39.57% gains over the past six months. However, it is still -142.24% lower than its most recent low trading price.

If we look at the average trading volume of 2.43M shares, TGTX reached to a volume of 13130645 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $17.22 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 2.20. 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.

BofA Securities have made an estimate for TG Therapeutics Inc. shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on May 20, 2022. While these analysts kept the previous recommendation, B. Riley Securities dropped their target price from $49 to $35. The new note on the price target was released on February 23, 2022, representing the official price target for TG Therapeutics Inc. stock. Previously, the target price had yet another drop from $33 to $26, while Goldman kept a Sell rating on TGTX stock.

The Average True Range (ATR) for TG Therapeutics Inc. is set at 0.72, with the Price to Sales ratio for TGTX stock in the period of the last 12 months amounting to 162.13. The Price to Book ratio for the last quarter was 8.78, with the Price to Cash per share for the same quarter was set at 1.45.

Trading performance analysis for TGTX stock

TG Therapeutics Inc. [TGTX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 43.37. With this latest performance, TGTX shares gained by 48.15% in over the last four-week period, additionally plugging by 39.57% over the last 6 months – not to mention a drop of -74.65% 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 70.53, with the RSI for the last a single of trading hit 76.88, and the three-weeks RSI is set at 65.39 for TG Therapeutics Inc. [TGTX]. The present Moving Average for the last 50 days of trading for this stock 6.09, while it was recorded at 6.14 for the last single week of trading, and 7.09 for the last 200 days.

TG Therapeutics Inc. [TGTX]: A deeper dive into fundamental analysis

TG Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.70 and a Current Ratio set at 4.70.

An analysis of insider ownership at TG Therapeutics Inc. [TGTX]

There are presently around $875 million, or 74.10% of TGTX stock, in the hands of institutional investors. The top three institutional holders of TGTX stocks are: STATE STREET CORP with ownership of 14,235,263, which is approximately 47.844% of the company’s market cap and around 1.10% of the total institutional ownership; VANGUARD GROUP INC, holding 13,020,832 shares of the stock with an approximate value of $109.77 million in TGTX stocks shares; and BLACKROCK INC., currently with $78.08 million in TGTX stock with ownership of nearly 3.657% 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 103 institutional holders increased their position in TG Therapeutics Inc. [NASDAQ:TGTX] by around 24,386,869 shares. Additionally, 73 investors decreased positions by around 9,529,997 shares, while 27 investors held positions by with 69,864,226 shares. The mentioned changes placed institutional holdings at 103,781,092 shares, according to the latest SEC report filing. TGTX stock had 33 new institutional investments in for a total of 6,890,519 shares, while 27 institutional investors sold positions of 6,403,738 shares during the same period.


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