Principal Financial Group Inc. Purchases 11,443 Shares of TG Therapeutics, Inc. (NASDAQ:TGTX)

Principal Financial Group Inc. boosted its position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) by 32.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,817 shares of the biopharmaceutical company’s stock after buying an additional 11,443 shares during the period. Principal Financial Group Inc.’s holdings in TG Therapeutics were worth $833,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Hood River Capital Management LLC purchased a new stake in shares of TG Therapeutics during the 1st quarter valued at about $22,420,000. Norges Bank purchased a new stake in TG Therapeutics during the fourth quarter valued at approximately $18,362,000. Assenagon Asset Management S.A. bought a new stake in shares of TG Therapeutics in the 2nd quarter valued at approximately $8,698,000. Eventide Asset Management LLC purchased a new position in shares of TG Therapeutics in the 4th quarter worth approximately $7,506,000. Finally, Opaleye Management Inc. increased its position in shares of 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. Hedge funds and other institutional investors own 58.58% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. HC Wainwright reaffirmed a “buy” rating and set a $49.00 price objective on shares of TG Therapeutics in a research note on Tuesday, August 6th. The Goldman Sachs Group lifted their price target on shares of TG Therapeutics from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Finally, B. Riley increased their price objective on shares of TG Therapeutics from $29.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $31.83.

TG Therapeutics Price Performance

TG Therapeutics stock opened at $23.73 on Friday. 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 stock has a market cap of $3.67 billion, a price-to-earnings ratio of 103.17 and a beta of 2.21. The firm has a 50-day moving average of $21.63 and a two-hundred day moving average of $18.06. TG Therapeutics, Inc. has a 1 year low of $6.46 and a 1 year high of $25.70.

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

TG Therapeutics Profile

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.