TG Therapeutics, Inc. $TGTX Position Trimmed by First Trust Advisors LP

Key Points

• First Trust Advisors LP cut its TG Therapeutics stake by 43.6% in the first quarter, selling 38,545 shares and retaining 49,947 shares valued at approximately $1.66 million. Institutional investors collectively own 58.58% of the company.
• 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 consensus by $0.26.
• Analyst sentiment is mixed, with five Buy, three Hold, and one Sell rating; the stock has an average rating of Hold and an average price target of $63, versus a recent price of $49.76.

First Trust Advisors LP decreased its holdings in TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) by 43.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 49,947 shares of the biopharmaceutical company's stock after selling 38,545 shares during the quarter. First Trust Advisors LP's holdings in TG Therapeutics were worth $1,659,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Danske Bank A S acquired a new position in shares of TG Therapeutics in the 3rd quarter valued at $25,000. Hantz Financial Services Inc. raised its holdings in TG Therapeutics by 82.7% during the 4th quarter. Hantz Financial Services Inc. now owns 1,237 shares of the biopharmaceutical company's stock worth $37,000 after buying an additional 560 shares during the period. EverSource Wealth Advisors LLC raised its holdings in TG Therapeutics by 86.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,237 shares of the biopharmaceutical company's stock worth $45,000 after buying an additional 573 shares during the period. Truvestments Capital LLC lifted its stake in TG Therapeutics by 172.4% during the fourth quarter. Truvestments Capital LLC now owns 1,621 shares of the biopharmaceutical company's stock valued at $48,000 after buying an additional 1,026 shares in the last quarter. Finally, Kemnay Advisory Services Inc. purchased a new stake in TG Therapeutics during the fourth quarter valued at about $52,000. Institutional investors and hedge funds own 58.58% of the company's stock.

TG Therapeutics Price Performance

TG Therapeutics stock opened at $49.76 on Monday. The firm has a market cap of $7.62 billion, a PE ratio of 18.16, a P/E/G ratio of 1.65 and a beta of 1.62. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.72 and a current ratio of 4.27. The firm's 50 day moving average price is $51.47 and its two-hundred day moving average price is $39.61. TG Therapeutics, Inc. has a twelve month low of $25.28 and a twelve month high of $59.30.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last issued its earnings results on Monday, August 3rd. The biopharmaceutical company reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.31 by ($0.26). TG Therapeutics had a net margin of 55.22% and a return on equity of 73.49%. The company had revenue of $240.34 million for the quarter, compared to analyst estimates of $229.77 million. During the same period last year, the business earned $0.17 EPS. The company's quarterly revenue was up 70.2% on a year-over-year basis. On average, research analysts predict that TG Therapeutics, Inc. will post 1.18 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Zacks Research raised shares of TG Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Monday, June 1st. Jefferies Financial Group restated a "buy" rating and issued a $83.00 price target on shares of TG Therapeutics in a research report on Monday, June 22nd. HC Wainwright reaffirmed a "buy" rating and issued a $78.00 price objective on shares of TG Therapeutics in a research note on Tuesday, August 4th. B. Riley Financial lifted their price objective on shares of TG Therapeutics from $55.00 to $86.00 and gave the stock a "buy" rating in a research report on Monday, July 27th. Finally, Bank of America boosted their target price on shares of TG Therapeutics from $17.00 to $20.00 and gave the company an "underperform" rating in a research note on Tuesday, July 7th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, TG Therapeutics presently has an average rating of "Hold" and an average target price of $63.00.

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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