Knott David M Jr Has $2.99 Million Position in TG Therapeutics, Inc. $TGTX

Key Points

• Knott David M Jr doubled its position in TG Therapeutics during the first quarter, buying 45,001 more shares and bringing its total to 90,001 shares worth about $2.99 million.
• Analyst sentiment is mixed but generally constructive, with the stock carrying a consensus rating of Moderate Buy and an average price target of $53.33.
• TG Therapeutics rose 5.4% to open at $55.50 and recently reported better-than-expected revenue of $204.92 million, though earnings per share missed estimates.

Knott David M Jr increased its stake in TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) by 100.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,001 shares of the biopharmaceutical company's stock after purchasing an additional 45,001 shares during the period. TG Therapeutics accounts for 1.8% of Knott David M Jr's portfolio, making the stock its 17th largest holding. Knott David M Jr owned about 0.06% of TG Therapeutics worth $2,990,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Maryland State Retirement & Pension System increased its stake in shares of TG Therapeutics by 2.0% in the 4th quarter. Maryland State Retirement & Pension System now owns 19,899 shares of the biopharmaceutical company's stock valued at $593,000 after buying an additional 393 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of TG Therapeutics by 1.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,406 shares of the biopharmaceutical company's stock worth $1,135,000 after acquiring an additional 441 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of TG Therapeutics by 16.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,147 shares of the biopharmaceutical company's stock valued at $94,000 after acquiring an additional 454 shares during the period. HB Wealth Management LLC lifted its stake in shares of TG Therapeutics by 6.7% during the first quarter. HB Wealth Management LLC now owns 7,514 shares of the biopharmaceutical company's stock valued at $250,000 after acquiring an additional 475 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its holdings in TG Therapeutics by 1.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 31,062 shares of the biopharmaceutical company's stock valued at $926,000 after acquiring an additional 500 shares during the last quarter. Institutional investors and hedge funds own 58.58% of the company's stock.

Analyst Ratings Changes

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

TG Therapeutics Trading Up 5.4%

NASDAQ TGTX opened at $55.50 on Friday. TG Therapeutics, Inc. has a 12 month low of $25.28 and a 12 month high of $59.30. The stock has a 50-day simple moving average of $48.69 and a 200 day simple moving average of $37.89. The company has a current ratio of 5.81, a quick ratio of 5.12 and a debt-to-equity ratio of 1.28. The company has a market capitalization of $8.50 billion, a PE ratio of 19.41, a P/E/G ratio of 1.32 and a beta of 1.60.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last issued its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.11). The firm 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 firm's revenue for the quarter was up 69.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.03 EPS. Research analysts forecast that TG Therapeutics, Inc. will post 1.46 EPS for the current 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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