Jupiter Topco LLC Buys New Holdings in TG Therapeutics, Inc. $TGTX

Key Points

• Jupiter Topco LLC acquired 96,823 shares of TG Therapeutics in the second quarter, valued at approximately $5.3 million and representing about 0.06% of the company. Institutional investors collectively own 58.58% of TGTX.
• Analyst sentiment is mixed, with five Buy, three Hold, and one Sell rating. The consensus rating is Hold, with an average price target of $63, although several analysts recently raised their targets to between $72 and $86.
• TGTX shares opened at $54.30, near their 52-week high of $59.30. TG Therapeutics reported quarterly revenue of $240.34 million, up 70.2% year over year, but missed earnings expectations by $0.26 per share.

Jupiter Topco LLC purchased a new position in TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 96,823 shares of the biopharmaceutical company's stock, valued at approximately $5,319,000. Jupiter Topco LLC owned approximately 0.06% of TG Therapeutics at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TGTX. BlackRock Inc. purchased a new position in shares of TG Therapeutics during the second quarter valued at about $1,211,429,000. Bank of New York Mellon Corp bought a new position in TG Therapeutics during the second quarter valued at approximately $49,472,000. Man Group plc boosted its stake in TG Therapeutics by 621.5% during the third quarter. Man Group plc now owns 1,008,462 shares of the biopharmaceutical company's stock valued at $36,431,000 after buying an additional 868,697 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in TG Therapeutics by 856.6% during the 4th quarter. BNP Paribas Financial Markets now owns 683,653 shares of the biopharmaceutical company's stock valued at $20,380,000 after buying an additional 612,189 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in TG Therapeutics by 129.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,084,855 shares of the biopharmaceutical company's stock worth $36,029,000 after acquiring an additional 612,068 shares during the last quarter. 58.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on TGTX shares. Jefferies Financial Group reaffirmed a "buy" rating and set a $83.00 price objective on shares of TG Therapeutics in a report on Monday, June 22nd. JPMorgan Chase & Co. boosted their price target on shares of TG Therapeutics from $65.00 to $72.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. Bank of America upped their price target on shares of TG Therapeutics from $17.00 to $20.00 and gave the company an "underperform" rating in a research note on Tuesday, July 7th. B. Riley Financial increased their price objective on shares of TG Therapeutics from $55.00 to $86.00 and gave the company a "buy" rating in a research report on Monday, July 27th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of TG Therapeutics in a research note on Wednesday, July 29th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, TG Therapeutics currently has an average rating of "Hold" and a consensus target price of $63.00.

TG Therapeutics Trading Up 0.7%

Shares of TGTX stock opened at $54.30 on Tuesday. TG Therapeutics, Inc. has a 1 year low of $26.76 and a 1 year high of $59.30. 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's 50 day simple moving average is $53.37 and its two-hundred day simple moving average is $42.09. The company has a market cap of $8.31 billion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 2.31 and a beta of 1.62.

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 company had revenue of $240.34 million during the quarter, compared to the consensus estimate of $229.77 million. TG Therapeutics had a net margin of 55.22% and a return on equity of 73.49%. TG Therapeutics's revenue for the quarter was up 70.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.17 earnings per share. Research analysts predict that TG Therapeutics, Inc. will post 0.92 earnings per share for the current year.

About TG Therapeutics

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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