New York State Teachers Retirement System bought a new position in TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 42,927 shares of the biopharmaceutical company's stock, valued at approximately $1,004,000.
A number of other institutional investors have also modified their holdings of TGTX. Opaleye Management Inc. raised its position in TG Therapeutics by 2.9% during the 1st quarter. Opaleye Management Inc. now owns 2,280,000 shares of the biopharmaceutical company's stock worth $34,679,000 after buying an additional 65,000 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of TG Therapeutics during the 2nd quarter valued at about $36,501,000. Hood River Capital Management LLC lifted its holdings in shares of TG Therapeutics by 6.7% in the 2nd quarter. Hood River Capital Management LLC now owns 1,572,929 shares of the biopharmaceutical company's stock valued at $27,982,000 after buying an additional 98,892 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of TG Therapeutics in the second quarter worth about $10,423,000. Finally, Jacobs Levy Equity Management Inc. grew its holdings in TG Therapeutics by 29.9% during the first quarter. Jacobs Levy Equity Management Inc. now owns 524,861 shares of the biopharmaceutical company's stock worth $7,983,000 after acquiring an additional 120,699 shares during the period. 58.58% of the stock is currently owned by institutional investors.
TG Therapeutics Stock Performance
Shares of TGTX stock traded up $0.91 during midday trading on Friday, hitting $28.81. The company had a trading volume of 3,346,624 shares, compared to its average volume of 3,044,248. The stock has a market cap of $4.46 billion, a price-to-earnings ratio of -288.07 and a beta of 2.19. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.58 and a quick ratio of 2.83. The company's 50 day simple moving average is $23.84 and its 200 day simple moving average is $20.50. TG Therapeutics, Inc. has a 52-week low of $9.81 and a 52-week high of $28.92.
TG Therapeutics (NASDAQ:TGTX - Get Free Report) last released its earnings results on Monday, November 4th. The biopharmaceutical company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). TG Therapeutics had a negative return on equity of 8.65% and a negative net margin of 5.42%. The firm had revenue of $83.90 million during the quarter, compared to analyst estimates of $81.68 million. During the same quarter last year, the business posted $0.73 EPS. The firm's revenue was down 49.4% on a year-over-year basis. Research analysts anticipate that TG Therapeutics, Inc. will post 0.15 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
TGTX has been the subject of several recent analyst reports. B. Riley lifted their price target on TG Therapeutics from $29.00 to $34.00 and gave the company a "buy" rating in a research note on Wednesday, August 7th. TD Cowen assumed coverage on TG Therapeutics in a research note on Tuesday, October 29th. They set a "buy" rating and a $50.00 price objective on the stock. HC Wainwright boosted their target price on shares of TG Therapeutics from $49.00 to $55.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Finally, The Goldman Sachs Group increased their price target on TG Therapeutics from $20.00 to $22.00 and gave the stock a "neutral" rating in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $37.67.
Get Our Latest Research Report on TGTX
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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