Abel Hall LLC Purchases New Stake in TG Therapeutics, Inc. $TGTX

Abel Hall LLC acquired a new position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 12,742 shares of the biopharmaceutical company’s stock, valued at approximately $423,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HB Wealth Management LLC increased its stake in shares of TG Therapeutics by 6.7% in the 1st quarter. HB Wealth Management LLC now owns 7,514 shares of the biopharmaceutical company’s stock worth $250,000 after acquiring an additional 475 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of TG Therapeutics during the 1st quarter worth $304,000. Pictet Asset Management Holding SA boosted its position in shares of TG Therapeutics by 19.6% during the 1st quarter. Pictet Asset Management Holding SA now owns 1,747,373 shares of the biopharmaceutical company’s stock valued at $58,048,000 after acquiring an additional 286,325 shares during the last quarter. Signature Wealth Management Partners LLC boosted its position in shares of TG Therapeutics by 9.3% during the 1st quarter. Signature Wealth Management Partners LLC now owns 11,780 shares of the biopharmaceutical company’s stock valued at $391,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Louisiana State Employees Retirement System purchased a new stake in shares of TG Therapeutics in the first quarter valued at about $2,003,000. Institutional investors and hedge funds own 58.58% of the company’s stock.

TG Therapeutics Price Performance

Shares of TGTX opened at $55.47 on Tuesday. The firm has a 50-day simple moving average of $44.35 and a two-hundred day simple moving average of $35.58. The stock has a market cap of $8.49 billion, a PE ratio of 19.40, a P/E/G ratio of 2.18 and a beta of 1.60. TG Therapeutics, Inc. has a 1-year low of $25.28 and a 1-year high of $57.38. The company has a debt-to-equity ratio of 1.28, a current ratio of 5.81 and a quick ratio of 5.12.

TG Therapeutics (NASDAQ:TGTX) last posted its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.11). The company had revenue of $204.92 million during the quarter, compared to analyst estimates of $200.33 million. TG Therapeutics had a net margin of 65.95% and a return on equity of 88.73%. The firm’s revenue for the quarter was up 69.5% on a year-over-year basis. During the same quarter last year, the business posted $0.03 EPS. As a group, analysts forecast that TG Therapeutics, Inc. will post 1.51 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. 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 reissued a “buy” rating and issued a $70.00 price target on shares of TG Therapeutics in a research note on Monday. Jefferies Financial Group restated a “buy” rating and set a $83.00 price target on shares of TG Therapeutics in a report on Monday, June 22nd. Finally, Weiss Ratings upgraded TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $58.60.

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.