The Manufacturers Life Insurance Company Acquires New Position in TG Therapeutics, Inc. $TGTX

The Manufacturers Life Insurance Company acquired a new position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 77,771 shares of the biopharmaceutical company’s stock, valued at approximately $4,273,000.

A number of other large investors have also recently bought and sold shares of TGTX. First Nebraska Trust Co acquired a new position in TG Therapeutics during the 2nd quarter valued at approximately $385,000. Commerce Bank acquired a new stake in TG Therapeutics in the second quarter worth $243,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of TG Therapeutics in the 2nd quarter worth about $324,000. Quantbot Technologies LP acquired a new stake in shares of TG Therapeutics in the 2nd quarter worth about $679,000. Finally, WealthShield Partners LLC bought a new stake in TG Therapeutics in the 2nd quarter valued at about $316,000. Institutional investors own 58.58% of the company’s stock.

TG Therapeutics Stock Up 0.7%

NASDAQ:TGTX opened at $54.30 on Tuesday. The firm has a market capitalization of $8.31 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 2.31 and a beta of 1.62. TG Therapeutics, Inc. has a 1-year low of $26.76 and a 1-year high of $59.30. The company has a current ratio of 4.27, a quick ratio of 3.72 and a debt-to-equity ratio of 1.23. The business’s fifty day moving average price is $53.37 and its 200 day moving average price is $42.09.

TG Therapeutics (NASDAQ:TGTX) last announced its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.26). TG Therapeutics had a return on equity of 73.49% and a net margin of 55.22%.The business had revenue of $240.34 million during the quarter, compared to analysts’ expectations of $229.77 million. During the same period in the prior year, the company posted $0.17 earnings per share. The firm’s revenue was up 70.2% on a year-over-year basis. On average, sell-side analysts forecast that TG Therapeutics, Inc. will post 0.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on TGTX shares. JPMorgan Chase & Co. upped their target price on shares of TG Therapeutics from $65.00 to $72.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Zacks Research upgraded shares of TG Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. HC Wainwright reiterated a “buy” rating and set a $78.00 price objective on shares of TG Therapeutics in a research report on Tuesday, August 4th. Jefferies Financial Group reissued a “buy” rating and issued a $83.00 price target on shares of TG Therapeutics in a research note on Monday, June 22nd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TG Therapeutics in a research note on Wednesday, July 29th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $63.00.

About TG Therapeutics

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.