TG Therapeutics, Inc. $TGTX Shares Purchased by Gibbs Wealth Management

Gibbs Wealth Management boosted its holdings in TG Therapeutics, Inc. (NASDAQ:TGTX) by 75.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,018 shares of the biopharmaceutical company’s stock after buying an additional 12,032 shares during the quarter. Gibbs Wealth Management’s holdings in TG Therapeutics were worth $931,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Danske Bank A S acquired a new position in shares of TG Therapeutics during the 3rd quarter worth about $25,000. Hantz Financial Services Inc. raised its position in shares of TG Therapeutics by 82.7% during the 4th quarter. Hantz Financial Services Inc. now owns 1,237 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 560 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of TG Therapeutics by 86.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,237 shares of the biopharmaceutical company’s stock worth $45,000 after acquiring an additional 573 shares in the last quarter. Truvestments Capital LLC lifted its stake in TG Therapeutics by 172.4% during the fourth quarter. Truvestments Capital LLC now owns 1,621 shares of the biopharmaceutical company’s stock worth $48,000 after purchasing an additional 1,026 shares during the last quarter. Finally, Kemnay Advisory Services Inc. purchased a new stake in TG Therapeutics during the fourth quarter worth approximately $52,000. 58.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Weiss Ratings upgraded shares of TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 1st. Zacks Research upgraded shares of TG Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. HC Wainwright increased their target price on shares of TG Therapeutics from $70.00 to $77.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Jefferies Financial Group reiterated a “buy” rating and set a $83.00 price target on shares of TG Therapeutics in a research note on Monday, June 22nd. Finally, Bank of America boosted their price target on shares of TG Therapeutics from $17.00 to $20.00 and gave the company an “underperform” rating in a research report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.33.

TG Therapeutics Price Performance

TG Therapeutics stock opened at $56.04 on Friday. TG Therapeutics, Inc. has a 12 month low of $25.28 and a 12 month high of $59.30. The company has a debt-to-equity ratio of 1.28, a current ratio of 5.81 and a quick ratio of 5.12. The business has a 50 day simple moving average of $49.02 and a 200-day simple moving average of $38.02. The stock has a market capitalization of $8.58 billion, a PE ratio of 19.59, a price-to-earnings-growth ratio of 1.39 and a beta of 1.60.

TG Therapeutics (NASDAQ:TGTX) last issued its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.12 earnings per share 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 for the quarter, compared to analyst estimates of $200.33 million. During the same period in the prior year, the business earned $0.03 earnings per share. TG Therapeutics’s revenue for the quarter was up 69.5% compared to the same quarter last year. Equities analysts predict that TG Therapeutics, Inc. will post 1.46 earnings per share for the current year.

TG Therapeutics Company 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.