Congress Asset Management Co. purchased a new position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,922,410 shares of the biopharmaceutical company's stock, valued at approximately $57,307,000. Congress Asset Management Co. owned 1.21% of TG Therapeutics as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Johnson Financial Group Inc. purchased a new stake in shares of TG Therapeutics during the 2nd quarter valued at $25,000. Danske Bank A S purchased a new position in shares of TG Therapeutics in the 3rd quarter worth $25,000. Optiver Holding B.V. raised its position in shares of TG Therapeutics by 3,485.7% in the 3rd quarter. Optiver Holding B.V. now owns 753 shares of the biopharmaceutical company's stock worth $27,000 after buying an additional 732 shares during the period. Bessemer Group Inc. boosted its holdings in TG Therapeutics by 117.1% in the third quarter. Bessemer Group Inc. now owns 901 shares of the biopharmaceutical company's stock valued at $33,000 after acquiring an additional 486 shares during the last quarter. Finally, Salomon & Ludwin LLC acquired a new position in TG Therapeutics in the third quarter valued at $34,000. Institutional investors and hedge funds own 58.58% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on TGTX shares. Cantor Fitzgerald restated an "overweight" rating on shares of TG Therapeutics in a research note on Wednesday, January 14th. Wall Street Zen lowered TG Therapeutics from a "buy" rating to a "hold" rating in a research note on Saturday, February 14th. Weiss Ratings reiterated a "hold (c+)" rating on shares of TG Therapeutics in a report on Monday, December 29th. The Goldman Sachs Group increased their target price on shares of TG Therapeutics from $37.00 to $39.00 and gave the stock a "neutral" rating in a research report on Thursday, January 15th. Finally, JPMorgan Chase & Co. cut their price target on shares of TG Therapeutics from $49.00 to $46.00 and set an "overweight" rating on the stock in a report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $50.00.
Read Our Latest Analysis on TG Therapeutics
TG Therapeutics Stock Up 1.3%
Shares of NASDAQ TGTX opened at $30.45 on Tuesday. The stock has a fifty day moving average price of $29.62 and a 200 day moving average price of $31.50. The company has a current ratio of 4.10, a quick ratio of 3.29 and a debt-to-equity ratio of 0.38. TG Therapeutics, Inc. has a 12-month low of $25.28 and a 12-month high of $46.48. The company has a market cap of $4.86 billion, a P/E ratio of 10.99 and a beta of 1.87.
TG Therapeutics (NASDAQ:TGTX - Get Free Report) last issued its quarterly earnings data on Thursday, February 26th. The biopharmaceutical company reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.35 by ($0.21). TG Therapeutics had a return on equity of 101.12% and a net margin of 72.56%.The company had revenue of $192.57 million for the quarter, compared to analyst estimates of $192.15 million. During the same quarter in the prior year, the firm earned $0.15 EPS. The company's revenue for the quarter was up 78.0% compared to the same quarter last year. Research analysts anticipate that TG Therapeutics, Inc. will post 0.08 EPS for the current fiscal year.
About TG Therapeutics
(
Free Report)
TG Therapeutics, Inc is a clinical‐stage biopharmaceutical company headquartered in New York City that specializes in developing targeted therapies for hematological malignancies and autoimmune diseases. The company's research strategy focuses on the modulation of B-cell biology through novel antibody and small‐molecule agents. Since its founding in 2003, TG Therapeutics has built a diversified portfolio aimed at addressing unmet medical needs in oncology and immunology.
In December 2022, TG Therapeutics achieved its first commercial milestone when ublituximab-xiiy (marketed as Briumvi® in collaboration with Biogen) received U.S.
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