Bank of New York Mellon Corp Buys 59,523 Shares of TG Therapeutics, Inc. (NASDAQ:TGTX)

Bank of New York Mellon Corp grew its position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) by 13.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 503,645 shares of the biopharmaceutical company’s stock after purchasing an additional 59,523 shares during the period. Bank of New York Mellon Corp owned about 0.33% of TG Therapeutics worth $8,960,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in TGTX. Hood River Capital Management LLC bought a new stake in TG Therapeutics in the first quarter valued at approximately $22,420,000. Norges Bank bought a new position in shares of TG Therapeutics during the fourth quarter valued at about $18,362,000. Assenagon Asset Management S.A. purchased a new stake in shares of TG Therapeutics during the second quarter worth about $8,698,000. Eventide Asset Management LLC bought a new stake in shares of TG Therapeutics in the fourth quarter worth about $7,506,000. Finally, Opaleye Management Inc. raised its position in TG Therapeutics by 17.2% during the 4th quarter. Opaleye Management Inc. now owns 2,215,000 shares of the biopharmaceutical company’s stock valued at $37,832,000 after purchasing an additional 325,000 shares during the last quarter. 58.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TGTX has been the topic of a number of research reports. The Goldman Sachs Group lifted their target price on shares of TG Therapeutics from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. HC Wainwright reissued a “buy” rating and issued a $49.00 price target on shares of TG Therapeutics in a research report on Tuesday, August 6th. Finally, B. Riley raised their price objective on TG Therapeutics from $29.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, TG Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $31.83.

TG Therapeutics Price Performance

TGTX opened at $23.53 on Wednesday. The company’s 50-day simple moving average is $21.36 and its two-hundred day simple moving average is $17.92. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.83 and a current ratio of 3.58. The stock has a market capitalization of $3.64 billion, a P/E ratio of 102.30 and a beta of 2.21. TG Therapeutics, Inc. has a 52-week low of $6.46 and a 52-week high of $25.70.

TG Therapeutics (NASDAQ:TGTX) last released its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.08. TG Therapeutics had a return on equity of 57.73% and a net margin of 27.60%. The firm had revenue of $73.47 million for the quarter, compared to analysts’ expectations of $65.92 million. During the same period in the prior year, the firm earned ($0.34) EPS. The company’s revenue was up 357.0% compared to the same quarter last year. As a group, analysts predict that TG Therapeutics, Inc. will post 0.13 EPS for the current year.

About TG Therapeutics

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.