TG Therapeutics, Inc. (NASDAQ:TGTX) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp reduced its position in TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) by 46.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,888 shares of the biopharmaceutical company's stock after selling 7,609 shares during the quarter. Mackenzie Financial Corp's holdings in TG Therapeutics were worth $268,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Clearbridge Investments LLC acquired a new position in TG Therapeutics in the fourth quarter valued at $55,237,000. Raymond James Financial Inc. purchased a new position in shares of TG Therapeutics during the fourth quarter worth about $14,508,000. Braun Stacey Associates Inc. acquired a new position in TG Therapeutics in the 4th quarter valued at about $13,328,000. Norges Bank acquired a new position in TG Therapeutics in the 4th quarter valued at about $12,085,000. Finally, Penn Capital Management Company LLC purchased a new stake in TG Therapeutics during the 4th quarter valued at approximately $10,577,000. 58.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on TGTX shares. HC Wainwright restated a "buy" rating and set a $55.00 price target on shares of TG Therapeutics in a research note on Tuesday, March 4th. Wall Street Zen upgraded shares of TG Therapeutics from a "sell" rating to a "hold" rating in a research report on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, TG Therapeutics currently has an average rating of "Moderate Buy" and a consensus target price of $40.80.

TG Therapeutics Price Performance

Shares of TGTX traded up $0.76 during mid-day trading on Friday, hitting $40.06. The company's stock had a trading volume of 2,135,380 shares, compared to its average volume of 2,975,380. TG Therapeutics, Inc. has a 1-year low of $15.16 and a 1-year high of $46.48. The company has a current ratio of 4.59, a quick ratio of 3.91 and a debt-to-equity ratio of 1.27. The firm has a 50-day simple moving average of $37.21 and a 200 day simple moving average of $34.69. The firm has a market capitalization of $6.36 billion, a P/E ratio of -400.56 and a beta of 1.94.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.19 by ($0.16). The company had revenue of $120.86 million for the quarter, compared to analyst estimates of $117.07 million. TG Therapeutics had a negative return on equity of 8.32% and a negative net margin of 5.42%. The business's revenue for the quarter was up 90.4% compared to the same quarter last year. During the same period last year, the company earned ($0.07) earnings per share. Analysts predict that TG Therapeutics, Inc. will post 0.08 EPS for the current fiscal year.

TG Therapeutics Profile

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.