Entropy Technologies LP Grows Position in TG Therapeutics, Inc. (NASDAQ:TGTX)

Key Points

• Entropy Technologies LP significantly increased its stake in TG Therapeutics by 251.5% during the first quarter, now owning 30,859 shares worth approximately $1.2 million.
• Analysts have a moderate outlook on TG Therapeutics, with Goldman Sachs upgrading the stock to a "hold" with a price target of $37.00, while others have rated it with a "Moderate Buy" and an average target of $46.25.
• TG Therapeutics reported a quarterly earnings miss with EPS of $0.17 compared to an expected $0.32, alongside a revenue of $141.15 million which fell short of analysts' expectations of $147.76 million.

Entropy Technologies LP grew its position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) by 251.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,859 shares of the biopharmaceutical company's stock after buying an additional 22,079 shares during the period. Entropy Technologies LP's holdings in TG Therapeutics were worth $1,217,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. NBC Securities Inc. lifted its position in shares of TG Therapeutics by 82,300.0% during the 1st quarter. NBC Securities Inc. now owns 824 shares of the biopharmaceutical company's stock valued at $32,000 after buying an additional 823 shares during the last quarter. Golden State Wealth Management LLC lifted its position in shares of TG Therapeutics by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 866 shares of the biopharmaceutical company's stock valued at $34,000 after buying an additional 433 shares during the last quarter. Vermillion Wealth Management Inc. purchased a new position in shares of TG Therapeutics during the 4th quarter valued at $30,000. USA Financial Formulas purchased a new position in shares of TG Therapeutics during the 1st quarter valued at $57,000. Finally, CWM LLC lifted its position in shares of TG Therapeutics by 16.2% during the 1st quarter. CWM LLC now owns 2,085 shares of the biopharmaceutical company's stock valued at $82,000 after buying an additional 290 shares during the last quarter. Hedge funds and other institutional investors own 58.58% of the company's stock.

Insider Transactions at TG Therapeutics

In other TG Therapeutics news, Director Yann Echelard sold 10,000 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $36.94, for a total value of $369,400.00. Following the sale, the director owned 228,816 shares of the company's stock, valued at $8,452,463.04. This trade represents a 4.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 10.64% of the company's stock.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group raised TG Therapeutics to a "hold" rating and set a $37.00 price objective on the stock in a report on Thursday, July 10th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, TG Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $46.25.

TG Therapeutics Price Performance

TGTX traded up $0.75 during trading on Wednesday, reaching $27.87. 2,695,697 shares of the company were exchanged, compared to its average volume of 2,758,838. The company's 50-day moving average is $35.54 and its two-hundred day moving average is $35.90. The company has a market cap of $4.42 billion, a price-to-earnings ratio of 75.32 and a beta of 1.95. The company has a quick ratio of 3.04, a current ratio of 3.86 and a debt-to-equity ratio of 0.89. TG Therapeutics, Inc. has a 12-month low of $20.39 and a 12-month high of $46.48.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.32 by ($0.15). The company had revenue of $141.15 million for the quarter, compared to analysts' expectations of $147.76 million. TG Therapeutics had a return on equity of 26.05% and a net margin of 13.31%. The business's revenue for the quarter was up 92.1% on a year-over-year basis. During the same period last year, the company posted $0.04 EPS. Research analysts forecast that TG Therapeutics, Inc. will post 0.08 earnings per share for the current fiscal 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.