Eagle Asset Management Inc. acquired a new position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX – Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 168,795 shares of the biopharmaceutical company’s stock, valued at approximately $3,948,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of TGTX. Sei Investments Co. acquired a new stake in shares of TG Therapeutics during the 1st quarter worth about $591,000. Russell Investments Group Ltd. grew its position in TG Therapeutics by 133.5% in the 1st quarter. Russell Investments Group Ltd. now owns 52,339 shares of the biopharmaceutical company’s stock valued at $796,000 after acquiring an additional 29,923 shares in the last quarter. State Board of Administration of Florida Retirement System grew its position in TG Therapeutics by 10.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 43,283 shares of the biopharmaceutical company’s stock valued at $651,000 after acquiring an additional 4,120 shares in the last quarter. Lazard Asset Management LLC acquired a new position in TG Therapeutics in the 1st quarter valued at about $91,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of TG Therapeutics by 6.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,603 shares of the biopharmaceutical company’s stock valued at $1,303,000 after buying an additional 5,015 shares during the period. 58.58% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on TGTX. TD Cowen began coverage on TG Therapeutics in a research note on Tuesday, October 29th. They issued a “buy” rating and a $50.00 price objective for the company. The Goldman Sachs Group lifted their price objective on TG Therapeutics from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. B. Riley lifted their price objective on TG Therapeutics from $29.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, HC Wainwright lifted their price objective on TG Therapeutics from $49.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, TG Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $37.67.
TG Therapeutics Price Performance
TGTX stock opened at $35.07 on Monday. The business has a 50 day moving average price of $25.62 and a 200 day moving average price of $21.70. The stock has a market cap of $5.46 billion, a price-to-earnings ratio of -350.66 and a beta of 2.19. TG Therapeutics, Inc. has a fifty-two week low of $12.30 and a fifty-two week high of $36.50. The company has a quick ratio of 3.91, a current ratio of 4.59 and a debt-to-equity ratio of 1.27.
TG Therapeutics (NASDAQ:TGTX – Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The firm had revenue of $83.90 million during the quarter, compared to analysts’ expectations of $81.68 million. TG Therapeutics had a negative net margin of 5.42% and a negative return on equity of 8.32%. TG Therapeutics’s quarterly revenue was down 49.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.73 EPS. Equities research analysts anticipate that TG Therapeutics, Inc. will post 0.17 earnings per share for the current fiscal year.
Insider Transactions at TG Therapeutics
In other news, Director Sagar Lonial sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $30.44, for a total transaction of $152,200.00. Following the completion of the sale, the director now owns 100,195 shares in the company, valued at $3,049,935.80. This represents a 4.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 10.50% of the company’s stock.
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.
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