PDT Partners LLC Acquires Shares of 41,585 TG Therapeutics, Inc. $TGTX

Key Points

• PDT Partners initiated a position in TG Therapeutics during the second quarter, purchasing 41,585 shares valued at approximately $2.3 million. Institutional investors and hedge funds collectively own 58.58% of the company.
• Analyst sentiment is mixed: JPMorgan and B. Riley raised their price targets to $72 and $86, respectively, while the overall consensus remains “Hold” with an average target of $63.
• TG Therapeutics reported quarterly revenue of $240.34 million, up 70.2% year over year and above estimates, but earnings per share of $0.05 missed expectations of $0.31.

PDT Partners LLC bought a new position in TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 41,585 shares of the biopharmaceutical company's stock, valued at approximately $2,285,000.

A number of other large investors also recently modified their holdings of the stock. Bank of America Corp DE lifted its stake in shares of 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 acquiring an additional 610,195 shares during the period. Deutsche Bank AG bought a new position in TG Therapeutics in the second quarter valued at about $12,937,000. Hsbc Holdings PLC increased its position in TG Therapeutics by 228.7% in the fourth quarter. Hsbc Holdings PLC now owns 146,087 shares of the biopharmaceutical company's stock worth $4,374,000 after purchasing an additional 101,646 shares during the period. Gibbs Wealth Management increased its position in TG Therapeutics by 75.3% in the first quarter. Gibbs Wealth Management now owns 28,018 shares of the biopharmaceutical company's stock worth $931,000 after purchasing an additional 12,032 shares during the period. Finally, Vanguard Group Inc. raised its holdings in TG Therapeutics by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 15,841,002 shares of the biopharmaceutical company's stock worth $472,220,000 after purchasing an additional 319,703 shares during the last quarter. 58.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TGTX has been the topic of a number of research reports. JPMorgan Chase & Co. upped their target price on shares of TG Therapeutics from $65.00 to $72.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. Weiss Ratings reissued a "hold (c+)" rating on shares of TG Therapeutics in a research note on Wednesday, July 29th. B. Riley Financial increased their price objective on shares of TG Therapeutics from $55.00 to $86.00 and gave the company a "buy" rating in a report on Monday, July 27th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $83.00 price objective on shares of TG Therapeutics in a research note on Monday, June 22nd. Finally, Zacks Research raised shares of TG Therapeutics from a "strong sell" rating to a "hold" rating in a report on Monday, June 1st. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $63.00.

TG Therapeutics Trading Down 0.7%

NASDAQ:TGTX opened at $55.03 on Thursday. The company has a current ratio of 4.27, a quick ratio of 3.72 and a debt-to-equity ratio of 1.23. TG Therapeutics, Inc. has a 1-year low of $26.76 and a 1-year high of $59.30. The firm has a market capitalization of $8.42 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 2.37 and a beta of 1.62. The business's 50-day moving average price is $53.31 and its two-hundred day moving average price is $41.55.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last posted its earnings results 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). The company had revenue of $240.34 million for the quarter, compared to analyst estimates of $229.77 million. TG Therapeutics had a return on equity of 73.49% and a net margin of 55.22%.TG Therapeutics's quarterly revenue was up 70.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.17 earnings per share. On average, equities analysts expect that TG Therapeutics, Inc. will post 0.92 earnings per share for the current year.

TG Therapeutics Profile

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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