BlackRock Inc. Takes Position in TG Therapeutics, Inc. $TGTX

Key Points

• BlackRock acquired 22.05 million TG Therapeutics shares worth approximately $1.21 billion, giving it a 14.4% stake in the biopharmaceutical company.
• Institutional ownership remains significant at 58.58%, with Vanguard, Bank of America, HSBC and other investors also increasing or initiating positions.
• Analyst sentiment is mixed but improving: the average rating is “Hold” with a $63 price target, while shares recently traded at $54.27 after rising 7.3%. TG Therapeutics exceeded revenue expectations but missed quarterly EPS estimates.

BlackRock Inc. bought a new position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 22,050,045 shares of the biopharmaceutical company's stock, valued at approximately $1,211,429,000. BlackRock Inc. owned about 14.40% of TG Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Bank of America Corp DE raised its stake in TG Therapeutics by 71.7% during the first quarter. Bank of America Corp DE now owns 1,461,302 shares of the biopharmaceutical company's stock valued at $48,544,000 after purchasing an additional 610,195 shares in the last quarter. M&T Bank Corp purchased a new position in shares of TG Therapeutics in the 4th quarter worth $3,750,000. Hsbc Holdings PLC grew its stake in shares of TG Therapeutics by 228.7% in the 4th quarter. Hsbc Holdings PLC now owns 146,087 shares of the biopharmaceutical company's stock worth $4,374,000 after buying an additional 101,646 shares in the last quarter. Gibbs Wealth Management increased its holdings in shares of TG Therapeutics by 75.3% in the 1st quarter. Gibbs Wealth Management now owns 28,018 shares of the biopharmaceutical company's stock worth $931,000 after buying an additional 12,032 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of TG Therapeutics by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 15,841,002 shares of the biopharmaceutical company's stock worth $472,220,000 after buying an additional 319,703 shares during the last quarter. 58.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TGTX has been the topic of several analyst reports. Zacks Research raised TG Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Monday, June 1st. JPMorgan Chase & Co. lifted their price objective on shares of TG Therapeutics from $65.00 to $72.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Jefferies Financial Group reiterated a "buy" rating and set a $83.00 price objective on shares of TG Therapeutics in a research report on Monday, June 22nd. Weiss Ratings reissued a "hold (c+)" rating on shares of TG Therapeutics in a research note on Wednesday, July 29th. Finally, B. Riley Financial raised their target price on shares of TG Therapeutics from $55.00 to $86.00 and gave the stock a "buy" rating in a report on Monday, July 27th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, TG Therapeutics currently has an average rating of "Hold" and an average price target of $63.00.

TG Therapeutics Trading Up 7.3%

Shares of NASDAQ TGTX opened at $54.27 on Friday. TG Therapeutics, Inc. has a 1-year low of $26.76 and a 1-year high of $59.30. The business has a fifty day moving average price of $53.02 and a 200 day moving average price of $40.90. The stock has a market capitalization of $8.31 billion, a P/E ratio of 19.81, a price-to-earnings-growth ratio of 2.17 and a beta of 1.62. The company has a debt-to-equity ratio of 1.23, a current ratio of 4.27 and a quick ratio of 3.72.

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

TG Therapeutics Company 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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