Teachers Retirement System of The State of Kentucky Buys New Stake in TG Therapeutics, Inc. (NASDAQ:TGTX)

Teachers Retirement System of The State of Kentucky purchased a new position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 44,450 shares of the biopharmaceutical company’s stock, valued at approximately $1,039,000.

Several other institutional investors and hedge funds have also made changes to their positions in TGTX. State Street Corp lifted its stake in TG Therapeutics by 35.8% during the third quarter. State Street Corp now owns 9,094,158 shares of the biopharmaceutical company’s stock worth $212,712,000 after purchasing an additional 2,398,015 shares during the last quarter. Marshall Wace LLP acquired a new stake in TG Therapeutics during the second quarter worth approximately $36,501,000. Hood River Capital Management LLC lifted its position in shares of TG Therapeutics by 6.7% during the 2nd quarter. Hood River Capital Management LLC now owns 1,572,929 shares of the biopharmaceutical company’s stock worth $27,982,000 after buying an additional 98,892 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of TG Therapeutics by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,184,609 shares of the biopharmaceutical company’s stock valued at $27,708,000 after buying an additional 7,939 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of TG Therapeutics by 1,549.4% in the 3rd quarter. Principal Financial Group Inc. now owns 772,188 shares of the biopharmaceutical company’s stock valued at $18,061,000 after buying an additional 725,371 shares during the last quarter. 58.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TGTX. HC Wainwright upped their price objective on shares of TG Therapeutics from $49.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. The Goldman Sachs Group upped their target price on TG Therapeutics from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price target on TG Therapeutics from $30.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. StockNews.com raised TG Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, December 14th. Finally, TD Cowen initiated coverage on shares of TG Therapeutics in a report on Tuesday, October 29th. They issued a “buy” rating and a $50.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, TG Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.67.

Insider Buying and Selling

In related news, Director Sagar Lonial sold 5,000 shares of the company’s stock in a transaction 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 transaction, the director now owns 100,195 shares of the company’s stock, valued at $3,049,935.80. This represents a 4.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 10.50% of the stock is currently owned by corporate insiders.

TG Therapeutics Trading Down 7.4 %

NASDAQ:TGTX opened at $31.07 on Thursday. TG Therapeutics, Inc. has a 12-month low of $12.84 and a 12-month high of $36.84. The company has a current ratio of 4.59, a quick ratio of 3.91 and a debt-to-equity ratio of 1.27. The stock’s 50 day simple moving average is $29.24 and its 200-day simple moving average is $23.74. The firm has a market cap of $4.84 billion, a P/E ratio of -310.67 and a beta of 2.25.

TG Therapeutics (NASDAQ:TGTX) last announced its quarterly earnings data on Monday, November 4th. The biopharmaceutical company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The firm had revenue of $83.90 million for the quarter, compared to analysts’ expectations of $81.68 million. TG Therapeutics had a negative return on equity of 8.32% and a negative net margin of 5.42%. The firm’s quarterly revenue was down 49.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.73 EPS. Equities analysts anticipate that TG Therapeutics, Inc. will post 0.17 EPS for the current year.

TG Therapeutics Profile

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.