Hsbc Holdings PLC Increases Stock Holdings in TG Therapeutics, Inc. $TGTX

Hsbc Holdings PLC boosted its stake in TG Therapeutics, Inc. (NASDAQ:TGTX) by 228.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 146,087 shares of the biopharmaceutical company’s stock after purchasing an additional 101,646 shares during the quarter. Hsbc Holdings PLC’s holdings in TG Therapeutics were worth $4,374,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of 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 purchasing an additional 319,703 shares during the period. State Street Corp boosted its stake in shares of TG Therapeutics by 4.7% during the 4th quarter. State Street Corp now owns 8,479,999 shares of the biopharmaceutical company’s stock valued at $252,789,000 after purchasing an additional 379,380 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of TG Therapeutics by 35.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,051,132 shares of the biopharmaceutical company’s stock valued at $61,144,000 after buying an additional 531,759 shares during the period. Congress Asset Management Co. purchased a new position in shares of TG Therapeutics during the fourth quarter valued at about $57,307,000. Finally, Invesco Ltd. raised its stake in TG Therapeutics by 47.1% in the fourth quarter. Invesco Ltd. now owns 1,609,815 shares of the biopharmaceutical company’s stock worth $47,989,000 after buying an additional 515,481 shares in the last quarter. 58.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on TGTX shares. Bank of America raised their price objective on shares of TG Therapeutics from $17.00 to $20.00 and gave the stock an “underperform” rating in a report on Tuesday. Zacks Research raised TG Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. 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. HC Wainwright restated a “buy” rating and issued a $70.00 target price on shares of TG Therapeutics in a research note on Monday. Finally, Weiss Ratings upgraded TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.17.

TG Therapeutics Stock Up 3.2%

Shares of TG Therapeutics stock opened at $59.06 on Friday. 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 company has a 50-day moving average of $45.71 and a 200 day moving average of $36.16. The firm has a market cap of $9.04 billion, a price-to-earnings ratio of 20.65, a PEG ratio of 1.38 and a beta of 1.60. TG Therapeutics, Inc. has a 1 year low of $25.28 and a 1 year high of $59.30.

TG Therapeutics (NASDAQ:TGTX) last posted its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $0.12 EPS 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 business had revenue of $204.92 million for the quarter, compared to the consensus estimate of $200.33 million. During the same period in the previous year, the firm earned $0.03 EPS. The company’s revenue was up 69.5% on a year-over-year basis. As a group, sell-side analysts anticipate that TG Therapeutics, Inc. will post 1.51 earnings per share for the current fiscal 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.