The stock of TG Therapeutics, Inc. (NASDAQ:TGTX) is now priced at $20 and the shares are 0.71 points up or 3.68% higher compared to its previous closing price of $19.29. The stock had 1.37 million contracts set over the past session. TGTX shares’ daily volume is compared to its average trading volume at 2.268 million shares. However, it has a float of 84.68 million and although its performance was -7.36% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the TGTX share price recently placing at $19.16 to $20.61. However, some brokerage firms have priced the stock below the average, including one that has called $23.
The shorts are climbing into the TG Therapeutics, Inc. stock, with the latest data on short interest released on July 15, 2020, showing that short interest numbers in the TGTX shares have risen. Short interest in the stock represents just 18.6% of its float, but the volume has raised by 1207320. The volume of shorted shares rised to 15.751 million from 14.544 million shares over the last two weeks. The average intraday trading volume has been 1.902 million shares, which means that days to cover moved to roughly 8.283546.
In the last trading session, TG Therapeutics, Inc. (NASDAQ:TGTX) dropped by -$1.59 over the week and lost -$0.31 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $24.76. The stock recorded its established 52-week high on 07/09/20.
Since 10/08/19, the stock has traded to a low of $4.95 at 304.04%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 2.44. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, TG Therapeutics, Inc.’s two-week RSI is 43.83. This suggests that the stock is neutral at the moment and that TGTX shares’ price movement remains stable. The stochastic readings are equally revealing at 14.17% meaning the TGTX share price is currently in overbought territory.
The technical chart shows that the TGTX stock will likely settle at between $20.69 and $21.37 per share. However, if the stock dips below $19.24, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $18.47.
Currently, the stock is trading in the red of MACD, with a reading of -1.23. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned TGTX a rating of Outperform in their intiating review released on June 05. H.C. Wainwright analysts see the stock as a Buy, but they also raised the share’s target price from $20 to $24 in a flash note released to investors on January 17. B. Riley FBR analysts see the stock as Buy when the analysts resumed the share price coverage on November 27, placing it at $12.
The average rating for the TGTX equity is 1.67 and is currently gathering a bullish momentum. Of 6 analysts tracking TG Therapeutics, Inc. polled by Reuters, 0 rated TGTX as a hold. The remaining 6 analysts were split evenly. However, the split wasn’t equal as a majority (6) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Zacks Consensus Estimate forecasts that the current-quarter revenues for TG Therapeutics, Inc. (NASDAQ:TGTX) will decrease by about -21.05%, which will see them reach $30 million. The company’s full-year revenues are, however, expected to diminish by about -95.01%, down from $152 million to $7.59 million. TGTX’s expected adjusted earnings should drop almost -19.05% to end up at -$0.34 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -19.9% to record -$1.57/share.