Victory Capital Management Inc. Has $3.63 Million Position in TG Therapeutics, Inc. (NASDAQ:TGTX)

Key Points

• Victory Capital Management Inc. increased its stake in TG Therapeutics by 70.4%, acquiring an additional 38,047 shares, bringing its total holdings to approximately 92,081 shares valued at $3.63 million.
• Wall Street analysts have given TG Therapeutics shares an average rating of "Moderate Buy", with a price target of $43.80 following a new "hold" rating set by Goldman Sachs.
• TG Therapeutics reported earnings of $0.03 per share, missing estimates, but saw a 90.4% year-over-year increase in revenue, highlighting strong growth prospects despite the earnings miss.

Victory Capital Management Inc. boosted its stake in shares of TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) by 70.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,081 shares of the biopharmaceutical company's stock after purchasing an additional 38,047 shares during the quarter. Victory Capital Management Inc. owned about 0.06% of TG Therapeutics worth $3,631,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TGTX. HighTower Advisors LLC boosted its position in TG Therapeutics by 19.0% during the fourth quarter. HighTower Advisors LLC now owns 14,912 shares of the biopharmaceutical company's stock worth $449,000 after purchasing an additional 2,386 shares during the period. KLP Kapitalforvaltning AS bought a new position in TG Therapeutics during the fourth quarter worth $924,000. LPL Financial LLC boosted its position in TG Therapeutics by 61.9% during the fourth quarter. LPL Financial LLC now owns 185,062 shares of the biopharmaceutical company's stock worth $5,570,000 after purchasing an additional 70,740 shares during the period. Vanguard Group Inc. boosted its position in TG Therapeutics by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 15,596,480 shares of the biopharmaceutical company's stock worth $469,454,000 after purchasing an additional 209,190 shares during the period. Finally, Norges Bank bought a new position in TG Therapeutics during the fourth quarter worth $12,085,000. 58.58% of the stock is owned by institutional investors.

TG Therapeutics Stock Performance

Shares of TG Therapeutics stock traded up $0.08 during trading on Thursday, reaching $36.35. The company's stock had a trading volume of 401,951 shares, compared to its average volume of 2,402,704. The business's 50-day moving average price is $36.79 and its 200-day moving average price is $35.92. The firm has a market cap of $5.77 billion, a PE ratio of 151.06 and a beta of 1.91. TG Therapeutics, Inc. has a 52 week low of $16.65 and a 52 week 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.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The biopharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.19 by ($0.16). The firm had revenue of $120.86 million for the quarter, compared to analyst estimates of $117.07 million. TG Therapeutics had a return on equity of 18.88% and a net margin of 10.13%. The company's quarterly revenue was up 90.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.07) earnings per share. Equities analysts forecast that TG Therapeutics, Inc. will post 0.08 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other TG Therapeutics news, Director Yann Echelard sold 10,000 shares of the business's 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 transaction, the director owned 228,816 shares of the company's stock, valued at approximately $8,452,463.04. The trade was a 4.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 10.64% of the company's stock.

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.