Wealth Effects LLC Purchases New Stake in TG Therapeutics, Inc. $TGTX

Wealth Effects LLC acquired a new position in TG Therapeutics, Inc. (NASDAQ:TGTX) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 11,000 shares of the biopharmaceutical company’s stock, valued at approximately $604,000.

A number of other institutional investors have also recently bought and sold shares of TGTX. Bank of New York Mellon Corp purchased a new position in TG Therapeutics during the 2nd quarter valued at about $49,472,000. Focus Partners Advisor Solutions LLC purchased a new stake in shares of TG Therapeutics in the second quarter worth approximately $344,000. GSA Capital Partners LLP acquired a new stake in shares of TG Therapeutics during the second quarter worth approximately $1,027,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of TG Therapeutics during the second quarter worth approximately $221,000. Finally, Handelsbanken Fonder AB grew its position in TG Therapeutics by 16.0% during the second quarter. Handelsbanken Fonder AB now owns 55,000 shares of the biopharmaceutical company’s stock valued at $3,022,000 after purchasing an additional 7,600 shares in the last quarter. 58.58% of the stock is currently owned by institutional investors and hedge funds.

TG Therapeutics Stock Performance

NASDAQ:TGTX opened at $48.74 on Monday. The stock’s 50 day moving average price is $52.47 and its 200 day moving average price is $40.24. TG Therapeutics, Inc. has a 52 week low of $26.76 and a 52 week high of $59.30. The company has a market capitalization of $7.46 billion, a P/E ratio of 17.79, a P/E/G ratio of 2.09 and a beta of 1.62. 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 (NASDAQ:TGTX) last posted its earnings results on Monday, August 3rd. The biopharmaceutical company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.26). The business had revenue of $240.34 million during the quarter, compared to analyst estimates of $229.77 million. TG Therapeutics had a net margin of 55.22% and a return on equity of 73.49%. TG Therapeutics’s revenue was up 70.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.17 earnings per share. On average, research analysts forecast that TG Therapeutics, Inc. will post 0.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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