Balyasny Asset Management L.P. Makes New $274,000 Investment in TG Therapeutics, Inc. (NASDAQ:TGTX)

Balyasny Asset Management L.P. purchased a new stake in TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,100 shares of the biopharmaceutical company's stock, valued at approximately $274,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Baird Financial Group Inc. increased its stake in TG Therapeutics by 7.6% in the fourth quarter. Baird Financial Group Inc. now owns 56,129 shares of the biopharmaceutical company's stock valued at $1,689,000 after purchasing an additional 3,947 shares during the last quarter. Freestone Grove Partners LP purchased a new position in TG Therapeutics in the fourth quarter valued at approximately $224,000. Lido Advisors LLC acquired a new stake in shares of TG Therapeutics in the fourth quarter valued at approximately $231,000. Northern Trust Corp boosted its holdings in shares of TG Therapeutics by 8.6% in the fourth quarter. Northern Trust Corp now owns 1,532,929 shares of the biopharmaceutical company's stock valued at $46,141,000 after acquiring an additional 120,785 shares during the period. Finally, Artia Global Partners LP acquired a new stake in shares of TG Therapeutics in the fourth quarter valued at approximately $1,641,000. 58.58% of the stock is currently owned by hedge funds and other institutional investors.

TG Therapeutics Stock Performance

NASDAQ:TGTX traded up $0.33 during midday trading on Friday, reaching $34.57. The stock had a trading volume of 1,042,767 shares, compared to its average volume of 2,983,166. The firm has a fifty day simple moving average of $38.13 and a two-hundred day simple moving average of $34.22. TG Therapeutics, Inc. has a 12-month low of $15.16 and a 12-month high of $46.48. The company has a quick ratio of 3.91, a current ratio of 4.59 and a debt-to-equity ratio of 1.27. The stock has a market cap of $5.49 billion, a P/E ratio of -345.67 and a beta of 2.21.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The biopharmaceutical company reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.19 by ($0.16). TG Therapeutics had a negative net margin of 5.42% and a negative return on equity of 8.32%. The firm had revenue of $120.86 million during the quarter, compared to analysts' expectations of $117.07 million. During the same quarter last year, the business earned ($0.07) earnings per share. The business's quarterly revenue was up 90.4% on a year-over-year basis. On average, equities analysts expect that TG Therapeutics, Inc. will post 0.08 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on TGTX shares. HC Wainwright reissued a "buy" rating and issued a $55.00 price objective on shares of TG Therapeutics in a report on Tuesday, March 4th. Wall Street Zen raised TG Therapeutics from a "sell" rating to a "hold" rating in a report on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, TG Therapeutics has an average rating of "Moderate Buy" and an average target price of $40.80.

About TG Therapeutics

TG Therapeutics, Inc, a commercial stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel treatments for B-cell mediated diseases in the United States and internationally. It provides BRIUMVI, an anti-CD20 monoclonal antibody for the treatment of adult patients with relapsing forms of multiple sclerosis (RMS), including clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease in adults.