TG Therapeutics, Inc. (NASDAQ:TGTX) Shares Bought by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its holdings in TG Therapeutics by 27.3%, owning 423,318 shares valued at approximately $16.69 million after purchasing additional shares in the first quarter.
• Analysts have upgraded TG Therapeutics to a "hold" rating with a target price of $37.00, with a consensus price target of $46.25 indicating a generally positive outlook from research analysts.
• In its most recent earnings report, TG Therapeutics reported $0.17 EPS, falling short of analyst estimates, with revenues of $141.15 million, but still marking a 92.1% increase from the previous year.

Public Sector Pension Investment Board lifted its holdings in TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) by 27.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 423,318 shares of the biopharmaceutical company's stock after purchasing an additional 90,741 shares during the period. Public Sector Pension Investment Board owned about 0.27% of TG Therapeutics worth $16,691,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of TG Therapeutics by 54.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 23,775 shares of the biopharmaceutical company's stock worth $898,000 after buying an additional 8,338 shares during the period. New York State Teachers Retirement System boosted its holdings in shares of TG Therapeutics by 175.0% in the first quarter. New York State Teachers Retirement System now owns 120,364 shares of the biopharmaceutical company's stock worth $4,746,000 after buying an additional 76,600 shares during the period. Crossmark Global Holdings Inc. acquired a new position in shares of TG Therapeutics in the first quarter worth about $226,000. GAMMA Investing LLC boosted its holdings in shares of TG Therapeutics by 77.7% in the first quarter. GAMMA Investing LLC now owns 4,543 shares of the biopharmaceutical company's stock worth $179,000 after buying an additional 1,986 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in shares of TG Therapeutics by 85.4% in the fourth quarter. Wells Fargo & Company MN now owns 331,403 shares of the biopharmaceutical company's stock worth $9,975,000 after buying an additional 152,682 shares during the period. Institutional investors and hedge funds own 58.58% of the company's stock.

Analyst Ratings Changes

Separately, The Goldman Sachs Group upgraded shares of TG Therapeutics to a "hold" rating and set a $37.00 target price for the company in a report on Thursday, July 10th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, TG Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $46.25.

TG Therapeutics Price Performance

NASDAQ TGTX opened at $26.39 on Tuesday. The company has a 50 day simple moving average of $35.91 and a 200-day simple moving average of $36.01. The company has a debt-to-equity ratio of 1.03, a current ratio of 4.02 and a quick ratio of 3.04. The firm has a market capitalization of $4.19 billion, a price-to-earnings ratio of 71.32 and a beta of 1.95. TG Therapeutics, Inc. has a 52-week low of $20.05 and a 52-week high of $46.48.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last posted its quarterly earnings results 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 during the quarter, compared to analysts' expectations of $147.76 million. TG Therapeutics had a return on equity of 27.83% and a net margin of 13.31%. TG Therapeutics's revenue for the quarter was up 92.1% compared to the same quarter last year. During the same period last year, the company earned $0.04 earnings per share. Equities research analysts predict that TG Therapeutics, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Yann Echelard sold 10,000 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $36.94, for a total value of $369,400.00. Following the completion of the sale, the director directly owned 228,816 shares of the company's stock, valued at $8,452,463.04. This represents a 4.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 10.64% of the stock is owned by company insiders.

TG Therapeutics Company 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.

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