TG Therapeutics, Inc. TGTX was a big mover last session, as the company saw its shares rise nearly 9% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $7.12 to $10.17 in the past one-month time frame.
The upmove came after the company announced a $50 million registered direct public offering of its common stock to a biotechnology-focused, institutional investor.
The company has not seen any estimate revision in the past month, while the Zacks Consensus Estimate has moved lower over the same time frame, suggesting there may be trouble down the road. So, make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
TG Therapeutics currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
Investors interested in the Medical - Products industry may consider a better-ranked stock like Aphria Inc. , which carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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