Wealth Effects LLC acquired a new stake in TG Therapeutics, Inc. (NASDAQ:TGTX – Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 11,000 shares of the biopharmaceutical company’s stock, valued at approximately $604,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TGTX. Bank of America Corp DE lifted its stake in shares of TG Therapeutics by 71.7% in the first quarter. Bank of America Corp DE now owns 1,461,302 shares of the biopharmaceutical company’s stock worth $48,544,000 after buying an additional 610,195 shares during the last quarter. M&T Bank Corp acquired a new position in TG Therapeutics in the 4th quarter valued at $3,750,000. Hsbc Holdings PLC grew its stake in TG Therapeutics by 228.7% in the 4th quarter. Hsbc Holdings PLC now owns 146,087 shares of the biopharmaceutical company’s stock valued at $4,374,000 after buying an additional 101,646 shares during the last quarter. Gibbs Wealth Management raised its holdings in TG Therapeutics by 75.3% in the 1st quarter. Gibbs Wealth Management now owns 28,018 shares of the biopharmaceutical company’s stock worth $931,000 after acquiring an additional 12,032 shares during the period. Finally, Vanguard Group Inc. raised its holdings in TG Therapeutics by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 15,841,002 shares of the biopharmaceutical company’s stock worth $472,220,000 after acquiring an additional 319,703 shares during the period. 58.58% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts have weighed in on the stock. Jefferies Financial Group reissued a “buy” rating and set a $83.00 target price on shares of TG Therapeutics in a research report on Monday, June 22nd. HC Wainwright reiterated a “buy” rating and issued a $78.00 price objective on shares of TG Therapeutics in a research note on Tuesday, August 4th. JPMorgan Chase & Co. boosted their price objective on TG Therapeutics from $65.00 to $72.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Bank of America boosted their price objective on TG Therapeutics from $17.00 to $20.00 and gave the stock an “underperform” rating in a research report on Tuesday, July 7th. Finally, Zacks Research upgraded TG Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $63.00.
TG Therapeutics Price Performance
NASDAQ:TGTX opened at $48.74 on Monday. The stock has a market cap of $7.46 billion, a P/E ratio of 17.79, a PEG ratio of 2.09 and a beta of 1.62. TG Therapeutics, Inc. has a one year low of $26.76 and a one year high of $59.30. The company has a fifty day moving average price of $52.47 and a 200 day moving average price of $40.24. The company has a debt-to-equity ratio of 1.23, a current ratio of 4.27 and a quick ratio of 3.72.
TG Therapeutics (NASDAQ:TGTX – Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.26). TG Therapeutics had a return on equity of 73.49% and a net margin of 55.22%.The company had revenue of $240.34 million during the quarter, compared to analyst estimates of $229.77 million. During the same quarter in the prior year, the business earned $0.17 earnings per share. The business’s revenue for the quarter was up 70.2% on a year-over-year basis. Analysts anticipate that TG Therapeutics, Inc. will post 0.92 earnings per share 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.
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