Tidal Investments LLC Buys New Holdings in TG Therapeutics, Inc. $TGTX

Key Points

• Tidal Investments purchased 24,590 shares of TG Therapeutics worth approximately $1.35 million in the second quarter. Institutional investors collectively own 58.58% of TGTX.
• Analyst sentiment is mixed: five analysts rate the stock a Buy, two rate it Hold, and two rate it Sell. The consensus rating is Hold, with an average price target of $63.
• TGTX shares opened at $56.87, near their 52-week high of $59.30. Quarterly revenue rose 70.2% year over year to $240.34 million, although earnings of $0.05 per share missed the $0.31 consensus estimate.

Tidal Investments LLC purchased a new position in TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 24,590 shares of the biopharmaceutical company's stock, valued at approximately $1,351,000.

A number of other institutional investors also recently bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of TG Therapeutics during the second quarter worth $1,211,429,000. Bank of America Corp DE purchased a new position in shares of TG Therapeutics during the 2nd quarter valued at about $71,960,000. Bank of New York Mellon Corp acquired a new position in shares of TG Therapeutics in the 2nd quarter valued at about $49,472,000. BNP Paribas Financial Markets lifted its holdings in shares of TG Therapeutics by 856.6% in the 4th quarter. BNP Paribas Financial Markets now owns 683,653 shares of the biopharmaceutical company's stock valued at $20,380,000 after buying an additional 612,189 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake 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 buying an additional 612,068 shares during the last quarter. 58.58% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at TG Therapeutics

In related news, Director Laurence Charney sold 5,000 shares of the company's stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $54.96, for a total transaction of $274,800.00. Following the completion of the transaction, the director owned 168,640 shares in the company, valued at $9,268,454.40. This represents a 2.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 8.87% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

TGTX has been the subject of a number of analyst reports. Jefferies Financial Group restated a "buy" rating and issued a $83.00 price objective on shares of TG Therapeutics in a research report on Monday, June 22nd. HC Wainwright reaffirmed a "buy" rating and set a $78.00 target price on shares of TG Therapeutics in a report on Tuesday, September 1st. Weiss Ratings reiterated a "hold (c+)" rating on shares of TG Therapeutics in a research note on Wednesday, July 29th. Zacks Research downgraded shares of TG Therapeutics from a "hold" rating to a "strong sell" rating in a report on Monday, September 7th. Finally, B. Riley Financial raised their price target on shares of TG Therapeutics from $55.00 to $86.00 and gave the company a "buy" rating in a research report on Monday, July 27th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, TG Therapeutics currently has an average rating of "Hold" and an average price target of $63.00.

TG Therapeutics Trading Up 0.7%

Shares of NASDAQ:TGTX opened at $56.87 on Friday. The business's 50 day moving average price is $53.43 and its 200-day moving average price is $44.55. TG Therapeutics, Inc. has a 1 year low of $26.76 and a 1 year high of $59.30. The firm has a market capitalization of $8.71 billion, a price-to-earnings ratio of 20.76, a price-to-earnings-growth ratio of 2.42 and a beta of 1.67. The company has a debt-to-equity ratio of 1.23, a current ratio of 4.27 and a quick ratio of 3.72.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last issued its quarterly 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 company had revenue of $240.34 million during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.17 EPS. On average, equities research analysts forecast that TG Therapeutics, Inc. will post 0.92 earnings per share for the current fiscal year.

About TG Therapeutics

TG Therapeutics, Inc is a commercial-stage biopharmaceutical company focused on developing and delivering treatments for B-cell diseases and autoimmune disorders. The company's research and development programs are centered on therapies that target B cells, which play an important role in several immune-mediated conditions.

TG Therapeutics' principal product is BRIUMVI (ublituximab-xiiy), an anti-CD20 monoclonal antibody approved by the U.S. Food and Drug Administration for the treatment of adults with relapsing forms of multiple sclerosis, including clinically isolated syndrome, relapsing-remitting multiple sclerosis and active secondary progressive multiple sclerosis.

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