PDT Partners LLC Acquires New Shares in TG Therapeutics, Inc. $TGTX

PDT Partners LLC acquired a new position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 41,585 shares of the biopharmaceutical company’s stock, valued at approximately $2,285,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Royal Bank of Canada grew its stake in TG Therapeutics by 16.4% in the first quarter. Royal Bank of Canada now owns 75,692 shares of the biopharmaceutical company’s stock valued at $2,985,000 after acquiring an additional 10,660 shares during the period. NewEdge Advisors LLC raised its position in shares of TG Therapeutics by 9.6% during the first quarter. NewEdge Advisors LLC now owns 7,593 shares of the biopharmaceutical company’s stock worth $299,000 after purchasing an additional 665 shares during the period. Goldman Sachs Group Inc. raised its position in shares of TG Therapeutics by 21.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,919,416 shares of the biopharmaceutical company’s stock worth $75,683,000 after purchasing an additional 345,059 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of TG Therapeutics by 5.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 287,059 shares of the biopharmaceutical company’s stock valued at $11,319,000 after purchasing an additional 14,689 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of TG Therapeutics by 86.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,237 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 573 shares in the last quarter. 58.58% of the stock is currently owned by institutional investors.

TG Therapeutics Stock Down 0.7%

NASDAQ:TGTX opened at $55.03 on Thursday. The stock has a 50-day simple moving average of $53.31 and a 200 day simple moving average of $41.55. TG Therapeutics, Inc. has a 52-week low of $26.76 and a 52-week high of $59.30. The company has a market cap of $8.42 billion, a PE ratio of 20.08, a PEG ratio of 2.37 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 released its earnings results on Monday, August 3rd. The biopharmaceutical company reported $0.05 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $229.77 million. During the same quarter in the previous year, the firm posted $0.17 EPS. The company’s revenue was up 70.2% on a year-over-year basis. On average, sell-side analysts expect that TG Therapeutics, Inc. will post 0.92 EPS for the current fiscal year.

Analysts Set New Price Targets

TGTX has been the subject of a number of research reports. HC Wainwright reissued a “buy” rating and set a $78.00 target price on shares of TG Therapeutics in a research note on Tuesday, August 4th. Bank of America lifted their price target on shares of TG Therapeutics from $17.00 to $20.00 and gave the company an “underperform” rating in a research note on Tuesday, July 7th. Jefferies Financial Group reiterated a “buy” rating and issued a $83.00 price target on shares of TG Therapeutics in a report on Monday, June 22nd. Zacks Research raised shares of TG Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of TG Therapeutics in a report on Wednesday, July 29th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company 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.