Assenagon Asset Management S.A. Lowers Stock Position in TG Therapeutics, Inc. $TGTX

Key Points

• Assenagon Asset Management cut its TG Therapeutics stake by 82% in the second quarter, selling 418,373 shares and retaining 91,681 shares worth approximately $5.0 million. Institutional investors and hedge funds collectively own 58.58% of the company.
• Analyst sentiment is mixed: five analysts rate TGTX a Buy, three rate it Hold, and one rates it Sell. The consensus rating is Hold, with an average price target of $63.
• TG Therapeutics reported quarterly revenue of $240.34 million, up 70.2% year over year, but earnings per share of $0.05 missed estimates of $0.31. The stock recently opened at $49.50, compared with a 12-month range of $26.76 to $59.30.

Assenagon Asset Management S.A. decreased its holdings in shares of TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) by 82.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 91,681 shares of the biopharmaceutical company's stock after selling 418,373 shares during the period. Assenagon Asset Management S.A. owned approximately 0.06% of TG Therapeutics worth $5,037,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of TGTX. Danske Bank A S purchased a new stake in shares of TG Therapeutics during the 3rd quarter worth $25,000. EverSource Wealth Advisors LLC increased its holdings in shares of TG Therapeutics by 51.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the biopharmaceutical company's stock valued at $35,000 after purchasing an additional 365 shares in the last quarter. Hantz Financial Services Inc. increased its holdings in shares of TG Therapeutics by 82.7% in the 4th quarter. Hantz Financial Services Inc. now owns 1,237 shares of the biopharmaceutical company's stock valued at $37,000 after purchasing an additional 560 shares in the last quarter. Truvestments Capital LLC lifted its stake in shares of TG Therapeutics by 172.4% in the fourth quarter. Truvestments Capital LLC now owns 1,621 shares of the biopharmaceutical company's stock valued at $48,000 after purchasing an additional 1,026 shares during the period. Finally, Kemnay Advisory Services Inc. acquired a new stake in shares of TG Therapeutics in the fourth quarter valued at about $52,000. 58.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on TGTX. HC Wainwright restated a "buy" rating and set a $78.00 target price on shares of TG Therapeutics in a research report on Tuesday, August 4th. JPMorgan Chase & Co. lifted their price target on shares of TG Therapeutics from $65.00 to $72.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. Zacks Research raised TG Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Monday, June 1st. Weiss Ratings restated a "hold (c+)" rating on shares of TG Therapeutics in a report on Wednesday, July 29th. Finally, Bank of America raised their price objective on TG Therapeutics from $17.00 to $20.00 and gave the company an "underperform" rating in a research note on Tuesday, July 7th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, TG Therapeutics has a consensus rating of "Hold" and a consensus price target of $63.00.

TG Therapeutics Price Performance

TG Therapeutics stock opened at $49.50 on Thursday. The stock has a market capitalization of $7.58 billion, a P/E ratio of 18.07, a P/E/G ratio of 2.14 and a beta of 1.62. TG Therapeutics, Inc. has a 12-month low of $26.76 and a 12-month high of $59.30. The company has a debt-to-equity ratio of 1.23, a current ratio of 4.27 and a quick ratio of 3.72. The firm's 50-day moving average is $52.15 and its two-hundred day moving average is $39.99.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.31 by ($0.26). The firm had revenue of $240.34 million during the quarter, compared to analyst estimates of $229.77 million. TG Therapeutics had a net margin of 55.22% and a return on equity of 73.49%. The business's quarterly revenue was up 70.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.17 EPS. Equities analysts predict that TG Therapeutics, Inc. will post 0.92 earnings per share for the current year.

TG Therapeutics Profile

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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