Neo Ivy Capital Management Invests $268,000 in TG Therapeutics, Inc. (NASDAQ:TGTX)

Key Points

• Neo Ivy Capital Management acquired a new stake in TG Therapeutics, purchasing 6,790 shares valued at approximately $268,000 in the first quarter.
• Goldman Sachs raised TG Therapeutics to a "hold" rating with a price target of $37.00, while analysts maintain a consensus rating of "Moderate Buy" and an average price target of $43.80.
• Despite reporting a miss on EPS estimates at $0.03, TG Therapeutics achieved a revenue of $120.86 million for the quarter, up 90.4% year-over-year.

Neo Ivy Capital Management purchased a new stake in TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,790 shares of the biopharmaceutical company's stock, valued at approximately $268,000.

Other hedge funds also recently added to or reduced their stakes in the company. NBC Securities Inc. increased its stake in TG Therapeutics by 82,300.0% in the first quarter. NBC Securities Inc. now owns 824 shares of the biopharmaceutical company's stock valued at $32,000 after purchasing an additional 823 shares during the last quarter. Golden State Wealth Management LLC grew its position in shares of TG Therapeutics by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 866 shares of the biopharmaceutical company's stock worth $34,000 after acquiring an additional 433 shares during the last quarter. Vermillion Wealth Management Inc. purchased a new position in shares of TG Therapeutics during the fourth quarter worth approximately $30,000. USA Financial Formulas purchased a new position in shares of TG Therapeutics during the first quarter worth approximately $57,000. Finally, Quadrant Capital Group LLC grew its position in shares of TG Therapeutics by 137.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,686 shares of the biopharmaceutical company's stock worth $51,000 after acquiring an additional 975 shares during the last quarter. 58.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group upgraded shares of TG Therapeutics to a "hold" rating and set a $37.00 target price on the stock in a research report on Thursday, July 10th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, TG Therapeutics currently has an average rating of "Moderate Buy" and an average price target of $43.80.

Insider Buying and Selling

In related news, Director Yann Echelard sold 10,000 shares of TG Therapeutics stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $36.94, for a total transaction of $369,400.00. Following the completion of the sale, the director owned 228,816 shares in the company, valued at approximately $8,452,463.04. This trade represents a 4.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 10.64% of the company's stock.

TG Therapeutics Stock Performance

NASDAQ:TGTX traded up $1.43 during midday trading on Wednesday, reaching $36.76. The stock had a trading volume of 616,182 shares, compared to its average volume of 2,405,869. The firm has a fifty day simple moving average of $36.75 and a two-hundred day simple moving average of $35.92. TG Therapeutics, Inc. has a 12-month low of $16.65 and a 12-month high of $46.48. The company has a quick ratio of 3.04, a current ratio of 4.02 and a debt-to-equity ratio of 1.03. The stock has a market cap of $5.84 billion, a P/E ratio of 152.85 and a beta of 1.91.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $120.86 million during the quarter, compared to analysts' expectations of $117.07 million. TG Therapeutics had a net margin of 10.13% and a return on equity of 18.88%. The business's quarterly revenue was up 90.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.07) earnings per share. On average, equities analysts expect that TG Therapeutics, Inc. will post 0.08 EPS for the current 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.