Hsbc Holdings PLC Has $3.56 Million Stock Holdings in TG Therapeutics, Inc. $TGTX

Key Points

• HSBC Holdings PLC cut its stake in TG Therapeutics by 27.2% in the first quarter, selling 39,743 shares and leaving it with 106,344 shares valued at about $3.56 million.
• Wall Street sentiment is mixed but generally positive, with TG Therapeutics holding a consensus rating of “Moderate Buy” and an average price target of $53.33.
• The stock has been strong recently, opening at $56.04 and trading near its 52-week high of $59.30, while the company reported 69.5% year-over-year revenue growth in its latest quarter despite missing EPS estimates.

Hsbc Holdings PLC reduced its holdings in shares of TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) by 27.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 106,344 shares of the biopharmaceutical company's stock after selling 39,743 shares during the period. Hsbc Holdings PLC owned about 0.07% of TG Therapeutics worth $3,557,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TGTX. Danske Bank A S acquired a new position in TG Therapeutics in the third quarter worth about $25,000. Hantz Financial Services Inc. boosted its holdings in TG Therapeutics by 82.7% during the fourth quarter. Hantz Financial Services Inc. now owns 1,237 shares of the biopharmaceutical company's stock valued at $37,000 after purchasing an additional 560 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of TG Therapeutics by 86.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,237 shares of the biopharmaceutical company's stock valued at $45,000 after purchasing an additional 573 shares during the period. Truvestments Capital LLC raised its holdings in shares of TG Therapeutics by 172.4% in the 4th quarter. Truvestments Capital LLC now owns 1,621 shares of the biopharmaceutical company's stock worth $48,000 after buying an additional 1,026 shares in the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new position in shares of TG Therapeutics in the 4th quarter worth approximately $52,000. Institutional investors own 58.58% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Jefferies Financial Group reaffirmed a "buy" rating and issued a $83.00 price target on shares of TG Therapeutics in a research note on Monday, June 22nd. Weiss Ratings upgraded TG Therapeutics from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, May 1st. Zacks Research upgraded shares of TG Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Monday, June 1st. HC Wainwright upped their target price on shares of TG Therapeutics from $70.00 to $77.00 and gave the stock a "buy" rating in a report on Monday, July 13th. Finally, Bank of America increased their target price on shares of TG Therapeutics from $17.00 to $20.00 and gave the stock an "underperform" rating in a research report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, TG Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $53.33.

TG Therapeutics Stock Up 1.0%

NASDAQ TGTX opened at $56.04 on Friday. The stock's 50 day simple moving average is $49.02 and its 200 day simple moving average is $38.02. TG Therapeutics, Inc. has a one year low of $25.28 and a one year high of $59.30. The firm has a market cap of $8.58 billion, a PE ratio of 19.59, a price-to-earnings-growth ratio of 1.39 and a beta of 1.60. The company has a debt-to-equity ratio of 1.28, a current ratio of 5.81 and a quick ratio of 5.12.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.11). The business had revenue of $204.92 million during the quarter, compared to the consensus estimate of $200.33 million. TG Therapeutics had a net margin of 65.95% and a return on equity of 88.73%. The company's revenue for the quarter was up 69.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.03 EPS. As a group, sell-side analysts forecast that TG Therapeutics, Inc. will post 1.46 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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