TG Therapeutics Inc. (NASDAQ: TGTX) shares rose after announcing a $100 million share repurchase program and an additional $100 million buyback authorization. The company repurchased 3.5 million shares at an average price of $28.55. The Board of Directors approved another $100 million in stock repurchases.

The new buyback authorization highlights TG Therapeutics’ confidence in the potential of Briumvi, its multiple sclerosis therapy. Chairman and CEO Michael S. Weiss stated the company repurchased $78 million in August and believes current market prices do not reflect Briumvi’s potential. Analysts use earnings growth and technical analysis to evaluate the stock.

Investors use trends like moving averages and trend lines to predict a stock’s future trajectory. TG Therapeutics’ 200-day moving average is $34.39, above the current price of $31.29. Traders view stocks above the moving average as bullish and below as negative. Trend lines help predict future stock prices based on stable conditions.

Read more at Yahoo Finance: TG Therapeutics CEO Voices Strong Conviction In Briumvi With New $100 Million Buyback