Public Sector Pension Investment Board Increases Stock Holdings in TG Therapeutics, Inc. (NASDAQ:TGTX)

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

Several other institutional investors and hedge funds have also made changes to their positions in TGTX. NBC Securities Inc. increased its holdings in shares of TG Therapeutics by 82,300.0% in the 1st quarter. NBC Securities Inc. now owns 824 shares of the biopharmaceutical company's stock valued at $32,000 after acquiring an additional 823 shares during the last quarter. Golden State Wealth Management LLC increased its holdings in shares of TG Therapeutics by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 866 shares of the biopharmaceutical company's stock valued at $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 in the 4th quarter valued at about $30,000. USA Financial Formulas purchased a new position in shares of TG Therapeutics in the 1st quarter valued at about $57,000. Finally, CWM LLC raised its stake in TG Therapeutics by 16.2% during the 1st quarter. CWM LLC now owns 2,085 shares of the biopharmaceutical company's stock worth $82,000 after acquiring an additional 290 shares in the last quarter. 58.58% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at TG Therapeutics

In other news, Director Yann Echelard sold 10,000 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was 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 approximately $8,452,463.04. This represents a 4.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 10.64% of the company's stock.

Wall Street Analysts Forecast Growth

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

TG Therapeutics Stock Performance

Shares of TGTX stock traded up $0.31 during trading hours on Friday, hitting $28.08. The stock had a trading volume of 1,811,717 shares, compared to its average volume of 2,818,288. The firm has a market capitalization of $4.46 billion, a PE ratio of 75.89 and a beta of 1.95. TG Therapeutics, Inc. has a twelve month low of $20.81 and a twelve month high of $46.48. The stock's 50 day moving average is $35.07 and its 200 day moving average is $35.83. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.86 and a quick ratio of 3.04.

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

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.