Wealthedge Investment Advisors LLC Buys New Shares in TG Therapeutics, Inc. $TGTX

Key Points

• Wealthedge Investment Advisors LLC has acquired a new stake in TG Therapeutics, purchasing 26,895 shares valued at approximately $1,060,000 during the first quarter of 2023.
• TG Therapeutics reported quarterly earnings, missing estimates with $0.17 EPS compared to a consensus of $0.32, and revenue of $141.15 million, which was below expectations of $147.76 million.
• Goldman Sachs Group upgraded TG Therapeutics to a "hold" rating with a target price of $37.00, reflecting a cautious yet optimistic outlook following a significant gain in stock performance.

Wealthedge Investment Advisors LLC bought a new stake in shares of TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 26,895 shares of the biopharmaceutical company's stock, valued at approximately $1,060,000.

A number of other hedge funds have also made changes to their positions in TGTX. Vermillion Wealth Management Inc. acquired a new stake in shares of TG Therapeutics in the fourth quarter valued at approximately $30,000. NBC Securities Inc. increased its holdings in shares of TG Therapeutics by 82,300.0% in the first quarter. NBC Securities Inc. now owns 824 shares of the biopharmaceutical company's stock valued at $32,000 after purchasing an additional 823 shares during the last quarter. Golden State Wealth Management LLC increased its holdings in shares of TG Therapeutics by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 866 shares of the biopharmaceutical company's stock valued at $34,000 after purchasing an additional 433 shares during the last quarter. USA Financial Formulas acquired a new stake in shares of TG Therapeutics in the first quarter valued at approximately $57,000. Finally, CWM LLC increased its holdings in shares of TG Therapeutics by 16.2% in the first quarter. CWM LLC now owns 2,085 shares of the biopharmaceutical company's stock valued at $82,000 after purchasing an additional 290 shares during the last quarter. Institutional investors and hedge funds own 58.58% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group raised TG Therapeutics to a "hold" rating and set a $37.00 price target for the company in a report on Thursday, July 10th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $46.25.

Insider Activity at TG Therapeutics

In other news, Director Yann Echelard sold 10,000 shares of the firm's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $36.94, for a total transaction of $369,400.00. Following the completion of the transaction, the director directly owned 228,816 shares in the company, valued at $8,452,463.04. This trade represents a 4.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 10.64% of the stock is currently owned by corporate insiders.

TG Therapeutics Trading Up 0.4%

Shares of TGTX traded up $0.1010 during midday trading on Wednesday, hitting $28.0210. 597,730 shares of the stock were exchanged, compared to its average volume of 2,493,565. TG Therapeutics, Inc. has a 52-week low of $21.11 and a 52-week high of $46.48. The stock has a fifty day simple moving average of $34.60 and a 200 day simple moving average of $35.78. The firm has a market cap of $4.45 billion, a P/E ratio of 75.74 and a beta of 1.95. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.96 and a current ratio of 3.86.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The biopharmaceutical company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.15). TG Therapeutics had a return on equity of 26.05% and a net margin of 13.31%.The firm had revenue of $141.15 million for the quarter, compared to analysts' expectations of $147.76 million. During the same quarter in the prior year, the business earned $0.04 earnings per share. The company's quarterly revenue was up 92.1% on a year-over-year basis. TG Therapeutics has set its FY 2025 guidance at EPS. On average, research analysts anticipate that TG Therapeutics, Inc. will post 0.08 EPS for the current fiscal year.

About TG Therapeutics

TG Therapeutics, Inc, a commercial stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel treatments for B-cell mediated diseases in the United States and internationally. It provides BRIUMVI, an anti-CD20 monoclonal antibody for the treatment of adult patients with relapsing forms of multiple sclerosis (RMS), including clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease in adults.