VIRGINIA RETIREMENT SYSTEMS ET Al Takes $2.17 Million Position in TG Therapeutics, Inc. $TGTX

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 39,531 shares of the biopharmaceutical company’s stock, valued at approximately $2,172,000.

Several other large investors have also recently added to or reduced their stakes in TGTX. BlackRock Inc. acquired a new position in TG Therapeutics in the second quarter worth $1,211,429,000. California State Teachers Retirement System raised its holdings in shares of TG Therapeutics by 5,233.8% during the second quarter. California State Teachers Retirement System now owns 9,374,083 shares of the biopharmaceutical company’s stock worth $515,012,000 after purchasing an additional 9,198,333 shares during the period. State Street Corp lifted its position in shares of TG Therapeutics by 4.7% in the 4th quarter. State Street Corp now owns 8,479,999 shares of the biopharmaceutical company’s stock worth $252,789,000 after buying an additional 379,380 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of TG Therapeutics by 35.0% in the 4th 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. Finally, Pictet Asset Management Holding SA boosted its holdings in shares of TG Therapeutics by 19.6% in the 1st quarter. Pictet Asset Management Holding SA now owns 1,747,373 shares of the biopharmaceutical company’s stock valued at $58,048,000 after buying an additional 286,325 shares during the period. 58.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on TGTX shares. Bank of America increased their price objective on shares of TG Therapeutics from $17.00 to $20.00 and gave the stock an “underperform” rating in a research note on Tuesday, July 7th. B. Riley Financial upped their target price on TG Therapeutics from $55.00 to $86.00 and gave the company a “buy” rating in a report on Monday, July 27th. HC Wainwright reiterated a “buy” rating and set a $78.00 price target on shares of TG Therapeutics in a research report on Tuesday, September 1st. Zacks Research downgraded TG Therapeutics from a “hold” rating to a “strong sell” rating in a report on Monday. Finally, JPMorgan Chase & Co. boosted their price objective on TG Therapeutics from $65.00 to $72.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $63.00.

TG Therapeutics Stock Up 1.4%

TGTX stock opened at $55.39 on Friday. The stock has a market cap of $8.48 billion, a PE ratio of 20.22, a price-to-earnings-growth ratio of 2.34 and a beta of 1.67. The firm’s 50-day simple moving average is $53.63 and its 200 day simple moving average is $43.61. TG Therapeutics, Inc. has a fifty-two week low of $26.76 and a fifty-two week high of $59.30. The company has a quick ratio of 3.72, a current ratio of 4.27 and a debt-to-equity ratio of 1.23.

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). TG Therapeutics had a net margin of 55.22% and a return on equity of 73.49%. The firm had revenue of $240.34 million for the quarter, compared to analyst estimates of $229.77 million. During the same period in the previous year, the firm earned $0.17 earnings per share. The company’s revenue for the quarter was up 70.2% on a year-over-year basis. As a group, sell-side analysts predict that TG Therapeutics, Inc. will post 0.92 EPS for the current year.

TG Therapeutics Profile

TG Therapeutics, Inc is a commercial-stage biopharmaceutical company focused on developing and delivering treatments for B-cell diseases and autoimmune disorders. The company’s research and development programs are centered on therapies that target B cells, which play an important role in several immune-mediated conditions.

TG Therapeutics’ principal product is BRIUMVI (ublituximab-xiiy), an anti-CD20 monoclonal antibody approved by the U.S. Food and Drug Administration for the treatment of adults with relapsing forms of multiple sclerosis, including clinically isolated syndrome, relapsing-remitting multiple sclerosis and active secondary progressive multiple sclerosis.