The Manufacturers Life Insurance Company Invests $4.27 Million in TG Therapeutics, Inc. $TGTX

Key Points

• The Manufacturers Life Insurance Company acquired 77,771 TG Therapeutics shares worth approximately $4.27 million, giving it a roughly 0.05% stake. Institutional investors collectively own 58.58% of the company.
• Analyst sentiment is mixed: five analysts rate TGTX a Buy, three recommend Hold, and one recommends Sell. The consensus rating is Hold, with a $63 price target.
• TGTX opened at $54.30, near its 52-week high of $59.30. Quarterly revenue rose 70.2% year over year to $240.34 million, though earnings per share of $0.05 fell short of the $0.31 consensus estimate.

The Manufacturers Life Insurance Company bought a new position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 77,771 shares of the biopharmaceutical company's stock, valued at approximately $4,273,000. The Manufacturers Life Insurance Company owned approximately 0.05% of TG Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its stake in TG Therapeutics by 51.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the biopharmaceutical company's stock worth $35,000 after buying an additional 365 shares during the period. Maryland State Retirement & Pension System lifted its holdings in shares of TG Therapeutics by 2.0% during the 4th quarter. Maryland State Retirement & Pension System now owns 19,899 shares of the biopharmaceutical company's stock valued at $593,000 after acquiring an additional 393 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of TG Therapeutics by 1.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,406 shares of the biopharmaceutical company's stock valued at $1,135,000 after acquiring an additional 441 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in TG Therapeutics by 16.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,147 shares of the biopharmaceutical company's stock worth $94,000 after purchasing an additional 454 shares during the period. Finally, HB Wealth Management LLC boosted its position in TG Therapeutics by 6.7% during the 1st quarter. HB Wealth Management LLC now owns 7,514 shares of the biopharmaceutical company's stock worth $250,000 after purchasing an additional 475 shares during the period. Hedge funds and other institutional investors own 58.58% of the company's stock.

Analyst Ratings Changes

TGTX has been the topic of several research reports. HC Wainwright reissued a "buy" rating and issued a $78.00 price objective on shares of TG Therapeutics in a research report on Tuesday, August 4th. Bank of America increased their target price on TG Therapeutics from $17.00 to $20.00 and gave the company an "underperform" rating in a research note on Tuesday, July 7th. Zacks Research upgraded TG Therapeutics from a "strong sell" rating to a "hold" rating in a report on Monday, June 1st. Jefferies Financial Group reissued a "buy" rating and set a $83.00 price target on shares of TG Therapeutics in a research report on Monday, June 22nd. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of TG Therapeutics in a research report on Wednesday, July 29th. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $63.00.

TG Therapeutics Stock Up 0.7%

TGTX stock opened at $54.30 on Tuesday. TG Therapeutics, Inc. has a twelve month low of $26.76 and a twelve month high of $59.30. The company has a current ratio of 4.27, a quick ratio of 3.72 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $8.31 billion, a P/E ratio of 19.82, a PEG ratio of 2.31 and a beta of 1.62. The firm has a 50 day simple moving average of $53.37 and a 200-day simple moving average of $42.09.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.26). The company had revenue of $240.34 million for the quarter, compared to analyst estimates 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 prior year, the business earned $0.17 earnings per share. On average, equities research analysts predict that TG Therapeutics, Inc. will post 0.92 earnings per share for the current fiscal year.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source