Corient Private Wealth LP Purchases Shares of 39,081 TG Therapeutics, Inc. $TGTX

Key Points

• Corient Private Wealth initiated a position in TG Therapeutics by purchasing 39,081 shares valued at approximately $2.15 million. Institutional investors and hedge funds collectively own 58.58% of TGTX.
• Analyst sentiment is mixed but includes several bullish revisions: JPMorgan, B. Riley, and HC Wainwright raised or maintained buy-equivalent ratings, while the consensus rating remains “Hold” with a $63 price target.
• TG Therapeutics reported quarterly revenue of $240.34 million, up 70.2% year over year and above estimates, but earnings per share of $0.05 missed the $0.31 consensus estimate. The stock opened at $56.90, near its 52-week high of $59.30.

Corient Private Wealth LP bought a new stake in TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 39,081 shares of the biopharmaceutical company's stock, valued at approximately $2,147,000.

Several other hedge funds have also recently bought and sold shares of TGTX. BlackRock Inc. acquired a new stake in shares of TG Therapeutics during the 2nd quarter worth about $1,211,429,000. Vanguard Group Inc. raised its stake in shares of TG Therapeutics by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 15,841,002 shares of the biopharmaceutical company's stock valued at $472,220,000 after acquiring an additional 319,703 shares during the last quarter. State Street Corp raised its stake in shares of TG Therapeutics by 4.7% in the fourth quarter. State Street Corp now owns 8,479,999 shares of the biopharmaceutical company's stock valued at $252,789,000 after acquiring an additional 379,380 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of TG Therapeutics by 35.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,051,132 shares of the biopharmaceutical company's stock worth $61,144,000 after acquiring an additional 531,759 shares in the last quarter. Finally, Pictet Asset Management Holding SA boosted its holdings in shares of TG Therapeutics by 19.6% in the 1st quarter. Pictet Asset Management Holding SA now owns 1,747,373 shares of the biopharmaceutical company's stock worth $58,048,000 after acquiring an additional 286,325 shares in the last quarter. 58.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TGTX has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on TG Therapeutics from $65.00 to $72.00 and gave the company an "overweight" rating in a report on Friday, August 7th. B. Riley Financial boosted their price objective on TG Therapeutics from $55.00 to $86.00 and gave the stock a "buy" rating in a research note on Monday, July 27th. HC Wainwright restated a "buy" rating and set a $78.00 target price on shares of TG Therapeutics in a report on Tuesday. Weiss Ratings restated a "hold (c+)" rating on shares of TG Therapeutics in a research note on Wednesday, July 29th. Finally, Bank of America lifted their price target on TG Therapeutics from $17.00 to $20.00 and gave the company an "underperform" rating in a report on Tuesday, July 7th. 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 company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $63.00.

TG Therapeutics Price Performance

TGTX opened at $56.90 on Thursday. 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 stock has a market capitalization of $8.71 billion, a P/E ratio of 20.77, a price-to-earnings-growth ratio of 2.40 and a beta of 1.67. The company's 50 day simple moving average is $53.48 and its 200-day simple moving average is $42.48. TG Therapeutics, Inc. has a one year low of $26.76 and a one year high of $59.30.

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 (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.26). The firm had revenue of $240.34 million for the quarter, compared to analyst estimates of $229.77 million. TG Therapeutics had a return on equity of 73.49% and a net margin of 55.22%.The firm's quarterly revenue was up 70.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.17 EPS. Sell-side analysts anticipate that TG Therapeutics, Inc. will post 0.92 earnings per share for the current fiscal 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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