Man Group plc Makes New Investment in TG Therapeutics, Inc. $TGTX

Key Points

• Man Group plc acquired 132,376 shares of TG Therapeutics during the second quarter, worth approximately $7.3 million and representing about 0.09% of the company. Institutional investors collectively own 58.58% of TGTX.
• Analyst sentiment is mixed but includes several bullish price-target increases: targets range from $20 to $86, while the consensus rating remains “Hold” with a $63 average target.
• TG Therapeutics reported quarterly revenue of $240.3 million, up 70.2% year over year and above estimates, but earnings per share of $0.05 missed expectations of $0.31. Shares recently opened at $53.93, near their 12-month high of $59.30.

Man Group plc acquired a new stake in TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 132,376 shares of the biopharmaceutical company's stock, valued at approximately $7,273,000. Man Group plc owned approximately 0.09% of TG Therapeutics at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Bank of America Corp DE lifted its position in TG Therapeutics by 71.7% during the first quarter. Bank of America Corp DE now owns 1,461,302 shares of the biopharmaceutical company's stock valued at $48,544,000 after buying an additional 610,195 shares in the last quarter. Deutsche Bank AG acquired a new stake in shares of TG Therapeutics in the second quarter worth $12,937,000. Hsbc Holdings PLC raised its stake in shares of TG Therapeutics by 228.7% in the 4th quarter. Hsbc Holdings PLC now owns 146,087 shares of the biopharmaceutical company's stock valued at $4,374,000 after acquiring an additional 101,646 shares during the period. Gibbs Wealth Management raised its stake in shares of TG Therapeutics by 75.3% in the 1st quarter. Gibbs Wealth Management now owns 28,018 shares of the biopharmaceutical company's stock valued at $931,000 after acquiring an additional 12,032 shares during the period. Finally, Edgestream Partners L.P. acquired a new position in shares of TG Therapeutics during the 1st quarter valued at $5,593,000. Hedge funds and other institutional investors own 58.58% of the company's stock.

Wall Street Analysts Forecast Growth

TGTX has been the subject of several recent research reports. Bank of America increased their price target on TG Therapeutics from $17.00 to $20.00 and gave the company an "underperform" rating in a report on Tuesday, July 7th. Zacks Research raised TG Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Monday, June 1st. JPMorgan Chase & Co. increased their target price on TG Therapeutics from $65.00 to $72.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. HC Wainwright reiterated a "buy" rating and set a $78.00 target price on shares of TG Therapeutics in a report on Tuesday, August 4th. Finally, B. Riley Financial boosted their price target on TG Therapeutics from $55.00 to $86.00 and gave the stock a "buy" rating in a research report on Monday, July 27th. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, TG Therapeutics currently has a consensus rating of "Hold" and a consensus target price of $63.00.

TG Therapeutics Stock Performance

Shares of TGTX stock opened at $53.93 on Friday. TG Therapeutics, Inc. has a 12 month low of $26.76 and a 12 month 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 firm has a market capitalization of $8.26 billion, a P/E ratio of 19.68, a P/E/G ratio of 2.31 and a beta of 1.62. The company's fifty day moving average price is $53.37 and its two-hundred day moving average price is $41.82.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last announced its earnings results on Monday, August 3rd. The biopharmaceutical company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.26). TG Therapeutics had a net margin of 55.22% and a return on equity of 73.49%. The business had revenue of $240.34 million for the quarter, compared to analyst estimates of $229.77 million. During the same quarter in the prior year, the business earned $0.17 earnings per share. The firm's revenue was up 70.2% on a year-over-year basis. On average, research analysts anticipate that TG Therapeutics, Inc. will post 0.92 earnings per share for the current fiscal 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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