Multiple sclerosis biotech firm TG Therapeutics is a standout in the weakening stock market environment. TGTX stock's latest breakout from an irregular base progressed Monday after two recent attempts had faded, despite a massive market sell-off.
TG Therapeutics stock was selected by Investor's Business Daily's model portfolio managers to be added to the IBD Leaderboard late Friday. And its strong relative price strength and robust fundamentals earned it a spot in the elite IBD 50 Top 10 List. The biotech stock was also Thursday's pick for IBD 50 Growth Stocks To Watch.
TG Therapeutics stock climbed another 2.1% Monday in heavy volume amid a day of harsh selling on the stock market. The biotech stock hit a 52-week high on Monday. Its move easily outshined the major indexes Monday, as the Nasdaq composite and the S&P 500 sank deeper below their 200-day moving averages and the Dow Jones Industrial Average lost nearly 900 points and tested its long-term line.
The Morrisville, N.C.-based biopharmaceutical makes a multiple sclerosis treatment named Briumvi, which is sold in the U.S. and Europe. The treatment is specifically used for a form of relapsing multiple sclerosis.
Stocks To Buy And Watch: Top IPOs, Big And Small Caps, Growth Stocks
TGTX Stock Tops Buy Zone
Shares jumped 9.2% Friday in heavy volume and broke out of a consolidation with a 36.84 buy point. Friday's breakout was the stock's third attempt last week at breaching the buy point. Monday's jump lifted the stock above the buy zone up reaching to 38.68, according to MarketSurge pattern recognition.
The stock had also cleared a 34.58 trendline entry point last week, according to Leaderboard.
But investors should be cautious of breakouts in the current market correction. Be sure to read Investor's Business Daily's The Big Picture column for current market analysis.
The biotech stock's 27.7% jump last week lifted shares back above its 10-week moving average.
TGTX stock holds a near-perfect 98 IBD Relative Strength Rating. Shares have climbed 30% so far this year.
Multiple Sclerosis Treatment Maker Shows Growing Profits
TG Therapeutics topped fourth-quarter sales expectations with in-line earnings March 3. The biotech company's fourth-quarter Briumvi sales grew to $103.6 million. Further, its 2024 net U.S. sales of Briumvi grew around 250%, according to the company's earnings release.
TG Therapeutics gave a full-year 2025 revenue outlook of $540 million for its Briumvi treatment vs. forecasts for $534.4 million.
Full-year 2025 profit estimates show earnings of 99 cents a share, up from 15 cents in 2024. And 2026 estimates call for a 95% increase in earnings to $1.93 a share.
Its IBD Accumulation/Distribution Rating of A- indicates fairly heavy institutional buying over the last 13 weeks. Volume has been trending higher this year, as big money managers scoop up shares. And its 1.4 up/down volume ratio shows positive demand over the last 50 days.
Mutual funds own 48% of shares, while management has an 11% stake in the company, which shows their conviction in the stock. The biotech stock's mutual fund ownership has increased for five straight quarters, according to Leaderboard data.
TGTX stock also boasts a 97 Composite Rating.
Follow Kimberley Koenig for more stock market news on X, the platform formerly known as Twitter, @IBD_KKoenig.
