AXQ Capital LP Takes Position in TG Therapeutics, Inc. $TGTX

Key Points

• AXQ Capital LP initiated a new TG Therapeutics position, purchasing 18,335 shares worth approximately $1.01 million in the second quarter. Institutional investors collectively own 58.58% of TGTX.
• Analyst sentiment is mixed but generally favorable: five analysts rate the stock a Buy, three a Hold, and one a Sell. The average price target is $63, with recent targets ranging from $72 to $86.
• TGTX opened at $55.99, near its 52-week high of $59.30. Second-quarter revenue rose 70.2% year over year to $240.34 million, though earnings of $0.05 per share fell short of the $0.31 consensus estimate.

AXQ Capital LP bought a new stake in shares of TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 18,335 shares of the biopharmaceutical company's stock, valued at approximately $1,007,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Round Rock Advisors LLC bought a new stake in TG Therapeutics during the 2nd quarter valued at $273,000. Nykredit A S acquired a new stake in TG Therapeutics during the 2nd quarter worth about $262,000. Sigma Planning Corp acquired a new position in TG Therapeutics in the 2nd quarter worth approximately $845,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in TG Therapeutics by 5.9% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 249,256 shares of the biopharmaceutical company's stock worth $13,694,000 after buying an additional 13,779 shares during the last quarter. Finally, Van ECK Associates Corp purchased a new position in TG Therapeutics during the 2nd quarter worth approximately $432,000. Institutional investors own 58.58% of the company's stock.

Analyst Ratings Changes

TGTX has been the topic of several analyst reports. Zacks Research upgraded TG Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Monday, June 1st. B. Riley Financial increased their price objective on TG Therapeutics from $55.00 to $86.00 and gave the company a "buy" rating in a research note on Monday, July 27th. JPMorgan Chase & Co. raised their price objective on shares of TG Therapeutics from $65.00 to $72.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. HC Wainwright reiterated a "buy" rating and issued a $78.00 target price on shares of TG Therapeutics in a report on Tuesday, September 1st. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $83.00 price objective on shares of TG Therapeutics in a report on Monday, June 22nd. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, TG Therapeutics currently has an average rating of "Hold" and an average target price of $63.00.

TG Therapeutics Price Performance

TGTX stock opened at $55.99 on Friday. The business has a 50 day moving average price of $53.54 and a 200 day moving average price of $42.77. The stock has a market cap of $8.57 billion, a price-to-earnings ratio of 20.43, a PEG ratio of 2.40 and a beta of 1.67. TG Therapeutics, Inc. has a fifty-two week low of $26.76 and a fifty-two week high of $59.30. The company has a quick ratio of 3.72, a current ratio of 4.27 and a debt-to-equity ratio of 1.23.

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

About TG Therapeutics

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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