Mackenzie Financial Corp Reduces Stock Holdings in TG Therapeutics, Inc. (NASDAQ:TGTX)

Mackenzie Financial Corp trimmed its holdings in shares of TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) by 46.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 8,888 shares of the biopharmaceutical company's stock after selling 7,609 shares during the period. Mackenzie Financial Corp's holdings in TG Therapeutics were worth $268,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in TGTX. Quadrant Capital Group LLC raised its stake in TG Therapeutics by 137.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,686 shares of the biopharmaceutical company's stock valued at $51,000 after buying an additional 975 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of TG Therapeutics by 24.5% during the fourth quarter. Blue Trust Inc. now owns 1,887 shares of the biopharmaceutical company's stock valued at $57,000 after acquiring an additional 371 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of TG Therapeutics by 512.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,905 shares of the biopharmaceutical company's stock worth $60,000 after purchasing an additional 1,594 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of TG Therapeutics by 460.7% in the 4th quarter. Jones Financial Companies Lllp now owns 2,114 shares of the biopharmaceutical company's stock worth $64,000 after purchasing an additional 1,737 shares during the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in TG Therapeutics in the 4th quarter worth about $128,000. 58.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TGTX has been the subject of several recent analyst reports. HC Wainwright reaffirmed a "buy" rating and issued a $55.00 target price on shares of TG Therapeutics in a report on Tuesday, March 4th. Wall Street Zen raised shares of TG Therapeutics from a "sell" rating to a "hold" rating in a research report on Tuesday, March 4th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, TG Therapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $40.80.

TG Therapeutics Stock Performance

TGTX traded up $0.76 during midday trading on Friday, hitting $40.06. 2,134,780 shares of the company traded hands, compared to its average volume of 2,969,379. The company's 50-day moving average is $37.16 and its 200 day moving average is $34.59. The company has a quick ratio of 3.91, a current ratio of 4.59 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $6.36 billion, a PE ratio of -400.56 and a beta of 2.21. TG Therapeutics, Inc. has a 52 week low of $15.16 and a 52 week high of $46.48.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The biopharmaceutical company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.16). TG Therapeutics had a negative net margin of 5.42% and a negative return on equity of 8.32%. The company had revenue of $120.86 million for the quarter, compared to analysts' expectations of $117.07 million. During the same period in the previous year, the firm earned ($0.07) earnings per share. The firm's revenue for the quarter was up 90.4% on a year-over-year basis. On average, research analysts expect that TG Therapeutics, Inc. will post 0.08 EPS for the current year.

About TG Therapeutics

TG Therapeutics, Inc, a commercial stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel treatments for B-cell mediated diseases in the United States and internationally. It provides BRIUMVI, an anti-CD20 monoclonal antibody for the treatment of adult patients with relapsing forms of multiple sclerosis (RMS), including clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease in adults.