TG Therapeutics, Inc. $TGTX Stock: Assenagon Asset Management S.A. Cuts Holdings

Key Points

• Assenagon Asset Management cut its TG Therapeutics stake by 75.2% in the third quarter, selling 68,988 shares and retaining 22,693 shares valued at approximately $1.27 million. Institutional investors collectively own 58.58% of TGTX.
• Analyst sentiment remains generally positive: TGTX has a “Moderate Buy” consensus rating from nine analysts, with an average price target of $63.00. Recent targets range from $72 to $86.
• TG Therapeutics shares opened at $53.16, near their 52-week high of $59.30, while the company reported revenue growth of 70.2% year over year but missed quarterly EPS estimates.

Assenagon Asset Management S.A. reduced its position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) by 75.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,693 shares of the biopharmaceutical company's stock after selling 68,988 shares during the quarter. Assenagon Asset Management S.A.'s holdings in TG Therapeutics were worth $1,266,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in TG Therapeutics in the 2nd quarter valued at about $1,211,429,000. Bank of America Corp DE acquired a new position in shares of TG Therapeutics in the second quarter worth about $71,960,000. Bank of New York Mellon Corp acquired a new position in shares of TG Therapeutics in the second quarter worth about $49,472,000. Dimensional Fund Advisors LP increased its position in shares of TG Therapeutics by 129.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,084,855 shares of the biopharmaceutical company's stock worth $36,029,000 after acquiring an additional 612,068 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of TG Therapeutics by 697.6% in the second quarter. Wellington Management Group LLP now owns 478,265 shares of the biopharmaceutical company's stock worth $26,276,000 after acquiring an additional 418,300 shares in the last quarter. 58.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TGTX has been the topic of a number of recent analyst reports. Zacks Research upgraded shares of TG Therapeutics from a "strong sell" rating to a "hold" rating in a report on Tuesday, October 6th. Weiss Ratings upgraded shares of TG Therapeutics from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, October 8th. JPMorgan Chase & Co. lifted their price objective on shares of TG Therapeutics from $65.00 to $72.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. HC Wainwright reissued a "buy" rating and set a $78.00 target price on shares of TG Therapeutics in a research note on Tuesday, September 1st. Finally, B. Riley Financial increased their target price on TG Therapeutics from $55.00 to $86.00 and gave the company a "buy" rating in a report on Monday, July 27th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $63.00.

TG Therapeutics Price Performance

Shares of TG Therapeutics stock opened at $53.16 on Friday. TG Therapeutics, Inc. has a fifty-two week low of $26.76 and a fifty-two week high of $59.30. The company has a debt-to-equity ratio of 1.23, a current ratio of 4.27 and a quick ratio of 3.72. The company has a market cap of $8.14 billion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 2.25 and a beta of 1.80. The firm has a fifty day moving average price of $54.62 and a two-hundred day moving average price of $48.80.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.31 by ($0.26). The business had revenue of $240.34 million for the quarter, compared to the consensus estimate of $229.77 million. TG Therapeutics had a return on equity of 73.49% and a net margin of 55.22%. TG Therapeutics's revenue was up 70.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.17 earnings per share. Analysts expect that TG Therapeutics, Inc. will post 0.92 EPS for the current year.

Insider Buying and Selling

In other TG Therapeutics news, Director Laurence Charney sold 5,000 shares of the business's stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $54.96, for a total value of $274,800.00. Following the transaction, the director owned 168,640 shares of the company's stock, valued at approximately $9,268,454.40. The trade was a 2.88% 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 hyperlink. Corporate insiders own 8.87% of the company's stock.

TG Therapeutics Company Profile

TG Therapeutics, Inc is a commercial-stage biopharmaceutical company focused on developing and delivering medicines for B-cell diseases, including multiple sclerosis and certain blood cancers. The company's research and development programs are centered on therapies that target B cells and the immune system.

TG Therapeutics' primary marketed product is BRIUMVI (ublituximab-xiiy), an anti-CD20 monoclonal antibody approved in the United States for the treatment of relapsing forms of multiple sclerosis in adults.

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