Banque Pictet & Cie SA Buys New Shares in TG Therapeutics, Inc. (NASDAQ:TGTX)

Banque Pictet & Cie SA bought a new stake in TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 13,151 shares of the biopharmaceutical company's stock, valued at approximately $519,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Crossmark Global Holdings Inc. purchased a new stake in TG Therapeutics during the 1st quarter worth about $226,000. Penserra Capital Management LLC bought a new stake in TG Therapeutics during the first quarter valued at $1,886,000. Braun Stacey Associates Inc. raised its holdings in shares of TG Therapeutics by 13.5% in the 1st quarter. Braun Stacey Associates Inc. now owns 502,650 shares of the biopharmaceutical company's stock valued at $19,819,000 after acquiring an additional 59,845 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of TG Therapeutics by 1.3% during the 1st quarter. Principal Financial Group Inc. now owns 841,011 shares of the biopharmaceutical company's stock valued at $33,161,000 after buying an additional 10,827 shares in the last quarter. Finally, New York State Teachers Retirement System grew its position in TG Therapeutics by 175.0% during the first quarter. New York State Teachers Retirement System now owns 120,364 shares of the biopharmaceutical company's stock valued at $4,746,000 after acquiring an additional 76,600 shares during the last quarter. Hedge funds and other institutional investors own 58.58% of the company's stock.

TG Therapeutics Stock Down 1.6%

NASDAQ TGTX traded down $0.59 during trading hours on Friday, reaching $37.08. 957,478 shares of the company's stock traded hands, compared to its average volume of 2,877,974. The firm has a market cap of $5.89 billion, a PE ratio of 154.50 and a beta of 1.91. The company has a debt-to-equity ratio of 1.03, a current ratio of 4.02 and a quick ratio of 3.04. TG Therapeutics, Inc. has a 52-week low of $16.65 and a 52-week high of $46.48. The firm has a 50-day simple moving average of $36.18 and a 200 day simple moving average of $35.25.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The biopharmaceutical company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.16). The business had revenue of $120.86 million for the quarter, compared to analysts' expectations of $117.07 million. TG Therapeutics had a net margin of 10.13% and a return on equity of 18.88%. The company's quarterly revenue was up 90.4% on a year-over-year basis. During the same period last year, the business earned ($0.07) earnings per share. Sell-side analysts anticipate that TG Therapeutics, Inc. will post 0.08 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group upgraded TG Therapeutics to a "hold" rating and set a $37.00 price target on the stock in a research report on Thursday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $43.80.

Insider Buying and Selling at TG Therapeutics

In other TG Therapeutics news, Director Yann Echelard sold 10,000 shares of TG Therapeutics stock in a transaction on Friday, June 13th. The shares were sold at an average price of $36.94, for a total value of $369,400.00. Following the sale, the director directly owned 228,816 shares in the company, valued at approximately $8,452,463.04. The trade was a 4.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 10.64% of the stock is currently owned by insiders.

TG Therapeutics Company Profile

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.