17,807 Shares in TG Therapeutics, Inc. $TGTX Bought by PSP Research LLC

PSP Research LLC purchased a new position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 17,807 shares of the biopharmaceutical company’s stock, valued at approximately $531,000.

Other hedge funds also recently made changes to their positions in the company. Congress Asset Management Co. purchased a new position in TG Therapeutics during the 4th quarter valued at about $57,307,000. Man Group plc grew its holdings in shares of TG Therapeutics by 621.5% during the third quarter. Man Group plc now owns 1,008,462 shares of the biopharmaceutical company’s stock worth $36,431,000 after buying an additional 868,697 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of TG Therapeutics by 21.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,919,416 shares of the biopharmaceutical company’s stock worth $75,683,000 after buying an additional 345,059 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of TG Therapeutics by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 15,841,002 shares of the biopharmaceutical company’s stock worth $472,220,000 after buying an additional 319,703 shares in the last quarter. Finally, Two Sigma Investments LP grew its holdings in shares of TG Therapeutics by 45.0% during the third quarter. Two Sigma Investments LP now owns 889,870 shares of the biopharmaceutical company’s stock worth $32,147,000 after buying an additional 276,163 shares in the last quarter. Institutional investors and hedge funds own 58.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Weiss Ratings upgraded shares of TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. HC Wainwright lifted their price target on shares of TG Therapeutics from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Wall Street Zen downgraded shares of TG Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. JPMorgan Chase & Co. lowered their price target on shares of TG Therapeutics from $49.00 to $46.00 and set an “overweight” rating for the company in a report on Monday, February 2nd. Finally, Zacks Research downgraded shares of TG Therapeutics from a “hold” rating to a “strong sell” rating in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $52.50.

TG Therapeutics Price Performance

TGTX opened at $39.43 on Wednesday. The company’s 50 day simple moving average is $34.60 and its 200 day simple moving average is $32.00. The company has a debt-to-equity ratio of 1.28, a quick ratio of 5.12 and a current ratio of 5.81. TG Therapeutics, Inc. has a 1 year low of $25.28 and a 1 year high of $44.65. The stock has a market capitalization of $6.04 billion, a PE ratio of 13.79 and a beta of 1.68.

TG Therapeutics (NASDAQ:TGTX) last released its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.11). TG Therapeutics had a return on equity of 88.73% and a net margin of 65.95%.The company had revenue of $204.92 million during the quarter, compared to analyst estimates of $200.33 million. During the same period in the prior year, the business posted $0.03 earnings per share. TG Therapeutics’s revenue was up 69.5% on a year-over-year basis. As a group, sell-side analysts expect that TG Therapeutics, Inc. will post 1.31 EPS for the current 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.