Legal & General Group Plc bought a new position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 322,229 shares of the biopharmaceutical company's stock, valued at approximately $17,703,000. Legal & General Group Plc owned 0.21% of TG Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TGTX. Royal Bank of Canada boosted its position in TG Therapeutics by 16.4% during the 1st quarter. Royal Bank of Canada now owns 75,692 shares of the biopharmaceutical company's stock worth $2,985,000 after acquiring an additional 10,660 shares during the period. NewEdge Advisors LLC raised its stake in shares of TG Therapeutics by 9.6% during the first quarter. NewEdge Advisors LLC now owns 7,593 shares of the biopharmaceutical company's stock valued at $299,000 after purchasing an additional 665 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of TG Therapeutics by 21.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,919,416 shares of the biopharmaceutical company's stock valued at $75,683,000 after purchasing an additional 345,059 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in TG Therapeutics by 5.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 287,059 shares of the biopharmaceutical company's stock worth $11,319,000 after purchasing an additional 14,689 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in TG Therapeutics by 86.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,237 shares of the biopharmaceutical company's stock worth $45,000 after purchasing an additional 573 shares during the period. Institutional investors and hedge funds own 58.58% of the company's stock.
TG Therapeutics Stock Performance
NASDAQ:TGTX opened at $53.93 on Monday. The stock has a fifty day simple moving average of $53.37 and a 200 day simple moving average of $41.91. The firm has a market capitalization of $8.26 billion, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of 2.31 and a beta of 1.62. TG Therapeutics, Inc. has a 1-year low of $26.76 and a 1-year high of $59.30. The company has a quick ratio of 3.72, a current ratio of 4.27 and a debt-to-equity ratio of 1.23.
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). TG Therapeutics had a return on equity of 73.49% and a net margin of 55.22%.The company had revenue of $240.34 million for the quarter, compared to analyst estimates of $229.77 million. During the same quarter in the previous year, the firm posted $0.17 EPS. TG Therapeutics's quarterly revenue was up 70.2% on a year-over-year basis. Sell-side analysts forecast that TG Therapeutics, Inc. will post 0.92 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on the company. HC Wainwright restated a "buy" rating and issued a $78.00 target price on shares of TG Therapeutics in a research report on Tuesday, August 4th. 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. Zacks Research upgraded TG Therapeutics from a "strong sell" rating to a "hold" rating in a report on Monday, June 1st. Bank of America raised their target price on TG Therapeutics from $17.00 to $20.00 and gave the company an "underperform" rating in a research note on Tuesday, July 7th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $83.00 target price on shares of TG Therapeutics in a report on Monday, June 22nd. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $63.00.
Check Out Our Latest Research Report on TGTX
About TG Therapeutics
(
Free Report)
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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