Bleakley Financial Group LLC Purchases Shares of 11,628 TG Therapeutics, Inc. $TGTX

Bleakley Financial Group LLC bought a new position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) during the first quarter, HoldingsChannel reports. The institutional investor bought 11,628 shares of the biopharmaceutical company’s stock, valued at approximately $386,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Royal Bank of Canada grew its holdings in shares of TG Therapeutics by 16.4% in the 1st quarter. Royal Bank of Canada now owns 75,692 shares of the biopharmaceutical company’s stock worth $2,985,000 after acquiring an additional 10,660 shares during the last quarter. NewEdge Advisors LLC boosted its position in shares of TG Therapeutics by 9.6% in the 1st quarter. NewEdge Advisors LLC now owns 7,593 shares of the biopharmaceutical company’s stock valued at $299,000 after purchasing an additional 665 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of TG Therapeutics by 21.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,919,416 shares of the biopharmaceutical company’s stock valued at $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 increased its stake in TG Therapeutics by 5.4% in 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 worth $11,319,000 after purchasing an additional 14,689 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in TG Therapeutics by 86.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,237 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 573 shares during the period. Institutional investors and hedge funds own 58.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Zacks Research raised shares of TG Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. Bank of America boosted their price target 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. Jefferies Financial Group restated a “buy” rating and issued a $83.00 price target on shares of TG Therapeutics in a research report on Monday, June 22nd. HC Wainwright raised their price objective on shares of TG Therapeutics from $70.00 to $77.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Finally, Weiss Ratings upgraded shares of TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.33.

TG Therapeutics Trading Down 0.1%

Shares of NASDAQ TGTX opened at $54.87 on Friday. TG Therapeutics, Inc. has a one year low of $25.28 and a one year high of $59.30. The firm has a market capitalization of $8.40 billion, a PE ratio of 19.19, a PEG ratio of 1.38 and a beta of 1.60. The company has a current ratio of 5.81, a quick ratio of 5.12 and a debt-to-equity ratio of 1.28. The business has a 50-day moving average price of $47.75 and a two-hundred day moving average price of $37.16.

TG Therapeutics (NASDAQ:TGTX) last released 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 business had revenue of $204.92 million for 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 revenue was up 69.5% compared to the same quarter last year. During the same period last year, the firm earned $0.03 EPS. As a group, analysts predict that TG Therapeutics, Inc. will post 1.46 earnings per share for the current fiscal year.

About TG Therapeutics

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.