TG Therapeutics, Inc. $TGTX Shares Bought by Fifth Third Bancorp

Fifth Third Bancorp grew its position in TG Therapeutics, Inc. (NASDAQ:TGTX) by 4,186.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 31,759 shares of the biopharmaceutical company’s stock after purchasing an additional 31,018 shares during the period. Fifth Third Bancorp’s holdings in TG Therapeutics were worth $1,055,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Royal Bank of Canada raised its position in shares of TG Therapeutics by 16.4% during the 1st quarter. Royal Bank of Canada now owns 75,692 shares of the biopharmaceutical company’s stock valued at $2,985,000 after buying an additional 10,660 shares during the period. NewEdge Advisors LLC grew its position in TG Therapeutics by 9.6% in the first quarter. NewEdge Advisors LLC now owns 7,593 shares of the biopharmaceutical company’s stock worth $299,000 after acquiring an additional 665 shares during the period. Goldman Sachs Group Inc. grew its position in TG Therapeutics by 21.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,919,416 shares of the biopharmaceutical company’s stock worth $75,683,000 after acquiring 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% during the first 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 acquiring an additional 14,689 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in TG Therapeutics by 86.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,237 shares of the biopharmaceutical company’s stock worth $45,000 after acquiring an additional 573 shares during the last quarter. Institutional investors and hedge funds own 58.58% of the company’s stock.

TG Therapeutics Stock Performance

Shares of TGTX stock opened at $56.04 on Friday. The company has a quick ratio of 5.12, a current ratio of 5.81 and a debt-to-equity ratio of 1.28. TG Therapeutics, Inc. has a 52 week low of $25.28 and a 52 week high of $59.30. The stock has a market capitalization of $8.58 billion, a PE ratio of 19.59, a P/E/G ratio of 1.40 and a beta of 1.60. The firm has a 50 day moving average of $49.02 and a two-hundred day moving average of $38.02.

TG Therapeutics (NASDAQ:TGTX) last posted its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.11). TG Therapeutics had a return on equity of 88.73% and a net margin of 65.95%.The business had revenue of $204.92 million during the quarter, compared to analyst estimates of $200.33 million. During the same quarter last year, the firm earned $0.03 EPS. The business’s revenue was up 69.5% on a year-over-year basis. On average, research analysts predict that TG Therapeutics, Inc. will post 1.46 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Zacks Research upgraded TG Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Jefferies Financial Group reiterated a “buy” rating and set a $83.00 price target on shares of TG Therapeutics in a report on Monday, June 22nd. Bank of America raised their price objective on TG Therapeutics from $17.00 to $20.00 and gave the stock an “underperform” rating in a research report on Tuesday, July 7th. HC Wainwright boosted their price objective on shares of TG Therapeutics from $70.00 to $77.00 and gave the company a “buy” rating in a report on Monday, July 13th. Finally, Weiss Ratings raised shares of TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.33.

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.