Nordea Investment Management AB Buys Shares of 79,696 TG Therapeutics, Inc. $TGTX

Nordea Investment Management AB purchased a new position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 79,696 shares of the biopharmaceutical company’s stock, valued at approximately $2,356,000. Nordea Investment Management AB owned approximately 0.05% of TG Therapeutics as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Johnson Financial Group Inc. acquired a new position in TG Therapeutics during the 2nd quarter worth about $25,000. Danske Bank A S acquired a new position in TG Therapeutics in the 3rd quarter valued at about $25,000. Optiver Holding B.V. increased its stake in TG Therapeutics by 3,485.7% during the third quarter. Optiver Holding B.V. now owns 753 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 732 shares during the period. Bessemer Group Inc. increased its stake in TG Therapeutics by 117.1% during the third quarter. Bessemer Group Inc. now owns 901 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 486 shares during the period. Finally, Salomon & Ludwin LLC acquired a new stake in shares of TG Therapeutics during the third quarter worth about $34,000. 58.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of TG Therapeutics in a report on Wednesday, January 14th. JPMorgan Chase & Co. reduced their target price on shares of TG Therapeutics from $49.00 to $46.00 and set an “overweight” rating on the stock in a report on Monday, February 2nd. The Goldman Sachs Group raised their price target on shares of TG Therapeutics from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, January 15th. Wall Street Zen downgraded shares of TG Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of TG Therapeutics in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $50.00.

TG Therapeutics Stock Down 0.7%

Shares of TG Therapeutics stock opened at $31.75 on Friday. TG Therapeutics, Inc. has a 52-week low of $25.28 and a 52-week high of $46.48. The company has a 50 day moving average of $29.76 and a 200 day moving average of $31.49. The company has a quick ratio of 3.29, a current ratio of 4.10 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $5.07 billion, a P/E ratio of 11.46 and a beta of 1.87.

TG Therapeutics (NASDAQ:TGTX) last announced its quarterly earnings data on Thursday, February 26th. The biopharmaceutical company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.21). TG Therapeutics had a net margin of 72.56% and a return on equity of 101.12%. The firm had revenue of $192.57 million during the quarter, compared to analysts’ expectations of $192.15 million. During the same period in the prior year, the company posted $0.15 earnings per share. The company’s revenue for the quarter was up 78.0% on a year-over-year basis. As a group, research analysts forecast that TG Therapeutics, Inc. will post 0.08 EPS for the current fiscal year.

TG Therapeutics 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.