TG Therapeutics, Inc. $TGTX Stock: Bridge City Capital LLC Raises Holdings

Key Points

• Bridge City Capital increased its TG Therapeutics stake by 76.6% in the third quarter to 156,988 shares valued at approximately $8.76 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, but earnings of $0.05 per share fell short of the $0.31 analyst consensus. Its primary marketed product is BRIUMVI, approved for relapsing multiple sclerosis.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $63.00; targets from several firms range from $72 to $86.

Bridge City Capital LLC boosted its position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) by 76.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 156,988 shares of the biopharmaceutical company's stock after acquiring an additional 68,092 shares during the quarter. TG Therapeutics accounts for approximately 1.8% of Bridge City Capital LLC's investment portfolio, making the stock its 12th biggest holding. Bridge City Capital LLC owned approximately 0.10% of TG Therapeutics worth $8,757,000 at the end of the most recent reporting period.

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

TG Therapeutics Stock Performance

Shares of TGTX stock opened at $61.18 on Monday. The firm has a 50 day moving average price of $55.33 and a two-hundred day moving average price of $43.75. The company has a quick ratio of 3.72, a current ratio of 4.27 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $9.36 billion, a PE ratio of 22.33, a price-to-earnings-growth ratio of 2.58 and a beta of 1.80. TG Therapeutics, Inc. has a 12-month low of $26.76 and a 12-month high of $61.76.

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

Insiders Place Their Bets

In related news, Director Laurence Charney sold 5,000 shares of TG Therapeutics stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $54.96, for a total transaction of $274,800.00. Following the completion of the sale, the director directly owned 168,640 shares of the company's stock, valued at approximately $9,268,454.40. This trade represents a 2.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 8.87% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. B. Riley Financial boosted their price target on TG Therapeutics from $55.00 to $86.00 and gave the stock a "buy" rating in a research report on Monday, July 27th. JPMorgan Chase & Co. raised their price objective on TG Therapeutics from $65.00 to $72.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. HC Wainwright reiterated a "buy" rating and set a $78.00 target price on shares of TG Therapeutics in a research note on Tuesday, September 1st. Weiss Ratings downgraded TG Therapeutics from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, October 23rd. Finally, Bank of America boosted their target price on TG Therapeutics from $17.00 to $20.00 and gave the stock an "underperform" rating in a report on Tuesday, July 7th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, TG Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $63.00.

About TG Therapeutics

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.

Want to see what other hedge funds are holding TGTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.