Gibbs Wealth Management Increases Stock Position in TG Therapeutics, Inc. $TGTX

Gibbs Wealth Management grew its holdings in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) by 75.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,018 shares of the biopharmaceutical company’s stock after purchasing an additional 12,032 shares during the period. Gibbs Wealth Management’s holdings in TG Therapeutics were worth $931,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Nordea Investment Management AB acquired a new position in TG Therapeutics during the fourth quarter worth $2,356,000. JPMorgan Chase & Co. raised its position in TG Therapeutics by 56.1% in the third quarter. JPMorgan Chase & Co. now owns 227,934 shares of the biopharmaceutical company’s stock worth $8,234,000 after acquiring an additional 81,907 shares in the last quarter. M&T Bank Corp acquired a new stake in TG Therapeutics in the fourth quarter valued at $3,750,000. Assenagon Asset Management S.A. lifted its holdings in TG Therapeutics by 1,278.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 160,390 shares of the biopharmaceutical company’s stock valued at $4,781,000 after acquiring an additional 148,757 shares during the period. Finally, Hsbc Holdings PLC boosted its position in shares of TG Therapeutics by 228.7% during the 4th quarter. Hsbc Holdings PLC now owns 146,087 shares of the biopharmaceutical company’s stock worth $4,374,000 after purchasing an additional 101,646 shares in the last quarter. 58.58% of the stock is owned by hedge funds and other institutional investors.

TG Therapeutics Stock Up 1.0%

TGTX opened at $56.04 on Friday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 5.12 and a current ratio of 5.81. The company has a market cap of $8.58 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 1.39 and a beta of 1.60. TG Therapeutics, Inc. has a one year low of $25.28 and a one year high of $59.30. The business’s fifty day moving average is $49.02 and its two-hundred day moving average is $38.02.

TG Therapeutics (NASDAQ:TGTX) last announced its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.11). The firm had revenue of $204.92 million during the quarter, compared to analysts’ expectations of $200.33 million. TG Therapeutics had a net margin of 65.95% and a return on equity of 88.73%. The company’s quarterly revenue was up 69.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.03 EPS. Analysts anticipate that TG Therapeutics, Inc. will post 1.46 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on TGTX. Weiss Ratings raised shares of TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 1st. Zacks Research upgraded shares of TG Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. Jefferies Financial Group reissued a “buy” rating and set a $83.00 price objective on shares of TG Therapeutics in a report on Monday, June 22nd. HC Wainwright upped their target price on shares of TG Therapeutics from $70.00 to $77.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Finally, Bank of America increased their target price on shares of TG Therapeutics from $17.00 to $20.00 and gave the company an “underperform” rating in a report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, TG Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $53.33.

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.