TG Therapeutics, Inc. $TGTX Stock Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its holdings in TG Therapeutics, Inc. (NASDAQ:TGTX) by 19.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 50,024 shares of the biopharmaceutical company’s stock after selling 12,378 shares during the quarter. State of Alaska Department of Revenue’s holdings in TG Therapeutics were worth $2,788,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Chiron Capital Management LLC boosted its stake in shares of TG Therapeutics by 10.5% in the third quarter. Chiron Capital Management LLC now owns 4,200 shares of the biopharmaceutical company’s stock valued at $234,000 after buying an additional 400 shares in the last quarter. GAMMA Investing LLC grew its holdings in TG Therapeutics by 15.4% during the third quarter. GAMMA Investing LLC now owns 5,929 shares of the biopharmaceutical company’s stock worth $331,000 after acquiring an additional 789 shares during the period. Farther Finance Advisors LLC raised its position in TG Therapeutics by 45.8% in the third quarter. Farther Finance Advisors LLC now owns 993 shares of the biopharmaceutical company’s stock worth $55,000 after acquiring an additional 312 shares in the last quarter. Cim Investment Management Inc. purchased a new position in TG Therapeutics in the second quarter worth $349,000. Finally, Envestnet Portfolio Solutions Inc. raised its position in TG Therapeutics by 24.8% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 21,192 shares of the biopharmaceutical company’s stock worth $1,164,000 after acquiring an additional 4,215 shares in the last quarter. 58.58% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Laurence Charney sold 5,000 shares of TG Therapeutics stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $54.96, for a total transaction of $274,800.00. Following the completion of the transaction, the director directly owned 168,640 shares of the company’s stock, valued at approximately $9,268,454.40. The trade was a 2.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 8.87% of the stock is owned by insiders.

Analyst Ratings Changes

TGTX has been the subject of a number of recent analyst reports. Weiss Ratings raised TG Therapeutics from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Bank of America upped their price target 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. Zacks Research raised shares of TG Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 6th. 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. Finally, HC Wainwright reiterated a “buy” rating and issued a $78.00 price objective on shares of TG Therapeutics in a research note on Tuesday, September 1st. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $63.00.

TG Therapeutics Price Performance

TGTX stock opened at $53.97 on Friday. The firm has a 50 day moving average of $54.27 and a 200-day moving average of $48.12. TG Therapeutics, Inc. has a 12-month low of $26.76 and a 12-month 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 company has a market cap of $8.26 billion, a price-to-earnings ratio of 19.70, a PEG ratio of 2.28 and a beta of 1.80.

TG Therapeutics (NASDAQ:TGTX) last released its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.26). The firm had revenue of $240.34 million during the quarter, compared to analyst estimates of $229.77 million. TG Therapeutics had a return on equity of 73.49% and a net margin of 55.22%. The business’s revenue was up 70.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 EPS. As a group, equities analysts expect that TG Therapeutics, Inc. will post 0.92 EPS for the current fiscal year.

About TG Therapeutics

TG Therapeutics, Inc is a commercial-stage biopharmaceutical company focused on developing and delivering treatments for B-cell-mediated diseases, including multiple sclerosis and B-cell malignancies. The company’s research and development activities center on antibody-based therapies designed to target B cells and related immune pathways.

TG Therapeutics’ principal marketed product is BRIUMVI (ublituximab-xiiy), an anti-CD20 monoclonal antibody approved in the United States for the treatment of adults with relapsing forms of multiple sclerosis, including clinically isolated syndrome, relapsing-remitting disease and active secondary progressive disease.