Hsbc Holdings PLC Has $884,000 Holdings in TG Therapeutics, Inc. $TGTX

Hsbc Holdings PLC trimmed its position in TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) by 85.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,791 shares of the biopharmaceutical company's stock after selling 90,553 shares during the quarter. Hsbc Holdings PLC's holdings in TG Therapeutics were worth $884,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP grew its stake in TG Therapeutics by 697.6% during the second quarter. Wellington Management Group LLP now owns 478,265 shares of the biopharmaceutical company's stock worth $26,276,000 after buying an additional 418,300 shares during the last quarter. Empowered Funds LLC bought a new position in shares of TG Therapeutics in the 2nd quarter valued at about $291,000. Capstone Investment Advisors LLC acquired a new stake in shares of TG Therapeutics during the 2nd quarter worth approximately $693,000. Corient Private Wealth LP acquired a new stake in shares of TG Therapeutics during the 2nd quarter worth approximately $2,147,000. Finally, Pingora Partners LLC bought a new stake in shares of TG Therapeutics during the second quarter worth approximately $121,000. Institutional investors and hedge funds own 58.58% of the company's stock.

TG Therapeutics Stock Performance

NASDAQ TGTX opened at $53.89 on Monday. TG Therapeutics, Inc. has a 52 week low of $26.76 and a 52 week high of $59.30. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.72 and a current ratio of 4.27. The stock's 50 day moving average price is $53.64 and its two-hundred day moving average price is $43.77. The stock has a market capitalization of $8.25 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 2.31 and a beta of 1.67.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.26). TG Therapeutics had a return on equity of 73.49% and a net margin of 55.22%.The business had revenue of $240.34 million for the quarter, compared to the consensus estimate of $229.77 million. During the same period in the prior year, the business earned $0.17 earnings per share. TG Therapeutics's revenue was up 70.2% compared to the same quarter last year. As a group, analysts anticipate that TG Therapeutics, Inc. will post 0.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TGTX has been the subject of a number of recent analyst reports. Weiss Ratings restated a "hold (c+)" rating on shares of TG Therapeutics in a research report on Wednesday, July 29th. Zacks Research cut TG Therapeutics from a "hold" rating to a "strong sell" rating in a research note on Monday, September 7th. JPMorgan Chase & Co. increased their price target on TG Therapeutics from $65.00 to $72.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Bank of America raised their price target on TG Therapeutics from $17.00 to $20.00 and gave the stock an "underperform" rating in a research report on Tuesday, July 7th. Finally, Jefferies Financial Group reiterated a "buy" rating and set a $83.00 price objective on shares of TG Therapeutics in a report on Monday, June 22nd. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $63.00.

TG Therapeutics Profile

TG Therapeutics, Inc is a commercial-stage biopharmaceutical company focused on developing and delivering treatments for B-cell diseases and autoimmune disorders. The company's research and development programs are centered on therapies that target B cells, which play an important role in several immune-mediated conditions.

TG Therapeutics' principal product is BRIUMVI (ublituximab-xiiy), an anti-CD20 monoclonal antibody approved by the U.S. Food and Drug Administration for the treatment of adults with relapsing forms of multiple sclerosis, including clinically isolated syndrome, relapsing-remitting multiple sclerosis and active secondary progressive multiple sclerosis.

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