Man Group plc Takes Position in TG Therapeutics, Inc. $TGTX

Man Group plc purchased a new position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 132,376 shares of the biopharmaceutical company’s stock, valued at approximately $7,273,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its holdings in TG Therapeutics by 51.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the biopharmaceutical company’s stock worth $35,000 after buying an additional 365 shares during the last quarter. Maryland State Retirement & Pension System lifted its stake in TG Therapeutics by 2.0% during the fourth quarter. Maryland State Retirement & Pension System now owns 19,899 shares of the biopharmaceutical company’s stock worth $593,000 after purchasing an additional 393 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in TG Therapeutics by 1.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,406 shares of the biopharmaceutical company’s stock worth $1,135,000 after purchasing an additional 441 shares during the period. Smartleaf Asset Management LLC increased its stake in TG Therapeutics by 16.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,147 shares of the biopharmaceutical company’s stock valued at $94,000 after purchasing an additional 454 shares during the last quarter. Finally, HB Wealth Management LLC raised its holdings in shares of TG Therapeutics by 6.7% during the first quarter. HB Wealth Management LLC now owns 7,514 shares of the biopharmaceutical company’s stock worth $250,000 after purchasing an additional 475 shares during the period. 58.58% of the stock is owned by institutional investors.

TG Therapeutics Stock Down 3.2%

TG Therapeutics stock opened at $53.93 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.72 and a current ratio of 4.27. TG Therapeutics, Inc. has a one year low of $26.76 and a one year high of $59.30. The company has a 50-day simple moving average of $53.37 and a 200-day simple moving average of $41.82. The firm has a market capitalization of $8.26 billion, a P/E ratio of 19.68, a P/E/G ratio of 2.31 and a beta of 1.62.

TG Therapeutics (NASDAQ:TGTX) last issued its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.26). The firm had revenue of $240.34 million during the quarter, compared to the consensus estimate of $229.77 million. TG Therapeutics had a net margin of 55.22% and a return on equity of 73.49%. The company’s revenue for the quarter was up 70.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.17 earnings per share. As a group, equities analysts expect that TG Therapeutics, Inc. will post 0.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on TGTX shares. Zacks Research raised shares of TG Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. HC Wainwright reiterated a “buy” rating and set a $78.00 price objective on shares of TG Therapeutics in a research note on Tuesday, August 4th. B. Riley Financial raised their target price on shares of TG Therapeutics from $55.00 to $86.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Jefferies Financial Group restated a “buy” rating and issued a $83.00 target price on shares of TG Therapeutics in a research note on Monday, June 22nd. Finally, JPMorgan Chase & Co. increased their price target on TG Therapeutics from $65.00 to $72.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, TG Therapeutics presently has a consensus rating of “Hold” and an average target price of $63.00.

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.