Franklin Resources Inc. Trims Position in TG Therapeutics, Inc. (NASDAQ:TGTX)

Franklin Resources Inc. cut its holdings in TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) by 24.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,538 shares of the biopharmaceutical company's stock after selling 31,447 shares during the quarter. Franklin Resources Inc. owned 0.06% of TG Therapeutics worth $2,936,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of TGTX. Vanguard Group Inc. grew its stake in shares of TG Therapeutics by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 15,596,480 shares of the biopharmaceutical company's stock worth $469,454,000 after purchasing an additional 209,190 shares during the period. Clearbridge Investments LLC acquired a new position in TG Therapeutics during the fourth quarter worth about $55,237,000. Charles Schwab Investment Management Inc. increased its holdings in TG Therapeutics by 7.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,269,513 shares of the biopharmaceutical company's stock valued at $38,212,000 after buying an additional 84,904 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of TG Therapeutics by 10.5% during the 4th quarter. Bank of New York Mellon Corp now owns 923,488 shares of the biopharmaceutical company's stock valued at $27,797,000 after acquiring an additional 87,679 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of TG Therapeutics by 7.5% during the 4th quarter. Principal Financial Group Inc. now owns 830,184 shares of the biopharmaceutical company's stock worth $24,989,000 after acquiring an additional 57,996 shares in the last quarter. Hedge funds and other institutional investors own 58.58% of the company's stock.

TG Therapeutics Price Performance

TG Therapeutics stock traded up $0.11 during mid-day trading on Friday, hitting $38.32. 1,074,546 shares of the company were exchanged, compared to its average volume of 3,108,359. TG Therapeutics, Inc. has a 12-month low of $12.93 and a 12-month high of $43.32. The company has a market capitalization of $6.02 billion, a P/E ratio of -383.16 and a beta of 2.14. The business's 50 day simple moving average is $36.20 and its two-hundred day simple moving average is $31.74. The company has a debt-to-equity ratio of 1.27, a current ratio of 4.59 and a quick ratio of 3.91.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last posted its quarterly earnings data on Monday, March 3rd. The biopharmaceutical company reported $0.15 EPS for the quarter, topping analysts' consensus estimates of $0.08 by $0.07. The firm had revenue of $108.19 million during the quarter, compared to analysts' expectations of $100.67 million. TG Therapeutics had a negative return on equity of 8.32% and a negative net margin of 5.42%. Analysts forecast that TG Therapeutics, Inc. will post 0.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TGTX has been the subject of several research reports. StockNews.com raised TG Therapeutics from a "sell" rating to a "hold" rating in a report on Tuesday, March 4th. HC Wainwright reaffirmed a "buy" rating and set a $55.00 price target on shares of TG Therapeutics in a research note on Tuesday, March 4th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $40.67.

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.