Castleark Management LLC bought a new stake in TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 168,810 shares of the biopharmaceutical company's stock, valued at approximately $3,948,000. Castleark Management LLC owned about 0.11% of TG Therapeutics at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in TGTX. NBC Securities Inc. raised its stake in shares of TG Therapeutics by 58.9% in the 3rd quarter. NBC Securities Inc. now owns 1,309 shares of the biopharmaceutical company's stock valued at $30,000 after acquiring an additional 485 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in shares of TG Therapeutics in the second quarter worth about $35,000. Blue Trust Inc. grew its stake in shares of TG Therapeutics by 127.3% in the third quarter. Blue Trust Inc. now owns 1,516 shares of the biopharmaceutical company's stock valued at $35,000 after buying an additional 849 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of TG Therapeutics during the 3rd quarter valued at about $53,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in TG Therapeutics during the 1st quarter worth approximately $58,000. Hedge funds and other institutional investors own 58.58% of the company's stock.
TG Therapeutics Stock Up 0.8 %
Shares of TG Therapeutics stock traded up $0.28 during trading on Friday, reaching $33.93. The company had a trading volume of 1,317,530 shares, compared to its average volume of 3,529,483. The company has a market cap of $5.28 billion, a price-to-earnings ratio of -339.27 and a beta of 2.25. TG Therapeutics, Inc. has a fifty-two week low of $12.84 and a fifty-two week high of $36.84. The firm's fifty day moving average is $27.64 and its 200-day moving average is $22.88. The company has a debt-to-equity ratio of 1.27, a quick ratio of 3.91 and a current ratio of 4.59.
TG Therapeutics (NASDAQ:TGTX - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). TG Therapeutics had a negative net margin of 5.42% and a negative return on equity of 8.32%. The firm had revenue of $83.90 million for the quarter, compared to analyst estimates of $81.68 million. During the same quarter in the previous year, the company earned $0.73 EPS. The company's quarterly revenue was down 49.4% compared to the same quarter last year. On average, analysts anticipate that TG Therapeutics, Inc. will post 0.17 EPS for the current year.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on TGTX. TD Cowen started coverage on shares of TG Therapeutics in a research note on Tuesday, October 29th. They set a "buy" rating and a $50.00 price objective on the stock. JPMorgan Chase & Co. lifted their price target on shares of TG Therapeutics from $30.00 to $43.00 and gave the stock an "overweight" rating in a research note on Monday, November 25th. HC Wainwright boosted their price objective on shares of TG Therapeutics from $49.00 to $55.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. The Goldman Sachs Group raised their target price on TG Therapeutics from $20.00 to $22.00 and gave the company a "neutral" rating in a research note on Tuesday, November 5th. Finally, StockNews.com cut TG Therapeutics from a "hold" rating to a "sell" rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $40.67.
View Our Latest Stock Report on TGTX
Insiders Place Their Bets
In other TG Therapeutics news, Director Sagar Lonial sold 5,000 shares of the firm's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $30.44, for a total value of $152,200.00. Following the transaction, the director now owns 100,195 shares of the company's stock, valued at $3,049,935.80. This trade represents a 4.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 10.50% of the stock is currently owned by corporate insiders.
TG Therapeutics Profile
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Free Report)
TG Therapeutics, Inc, a commercial stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel treatments for B-cell mediated diseases in the United States and internationally. It provides BRIUMVI, an anti-CD20 monoclonal antibody for the treatment of adult patients with relapsing forms of multiple sclerosis (RMS), including clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease in adults.
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