State of New Jersey Common Pension Fund D Acquires New Shares in TG Therapeutics, Inc. (NASDAQ:TGTX)

State of New Jersey Common Pension Fund D bought a new position in TG Therapeutics, Inc. (NASDAQ:TGTX) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 113,683 shares of the biopharmaceutical company’s stock, valued at approximately $2,022,000.

Several other hedge funds and other institutional investors have also bought and sold shares of TGTX. Assenagon Asset Management S.A. purchased a new position in shares of TG Therapeutics in the 2nd quarter worth $8,698,000. Eventide Asset Management LLC purchased a new position in TG Therapeutics in the fourth quarter worth about $7,506,000. Bank of New York Mellon Corp grew its stake in shares of TG Therapeutics by 13.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 503,645 shares of the biopharmaceutical company’s stock valued at $8,960,000 after purchasing an additional 59,523 shares during the period. Wellington Management Group LLP increased its position in shares of TG Therapeutics by 1.4% during the 4th quarter. Wellington Management Group LLP now owns 3,139,764 shares of the biopharmaceutical company’s stock valued at $53,627,000 after purchasing an additional 43,290 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of TG Therapeutics by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,131,896 shares of the biopharmaceutical company’s stock worth $19,333,000 after purchasing an additional 19,214 shares during the period. Institutional investors own 58.58% of the company’s stock.

TG Therapeutics Stock Down 2.5 %

Shares of TGTX stock opened at $24.65 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. TG Therapeutics, Inc. has a one year low of $6.46 and a one year high of $26.41. The company’s fifty day moving average price is $22.01 and its 200-day moving average price is $18.30. The company has a market capitalization of $3.81 billion, a price-to-earnings ratio of 107.17 and a beta of 2.21.

TG Therapeutics (NASDAQ:TGTX) last posted its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.08. The business 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%. The business’s quarterly revenue was up 357.0% on a year-over-year basis. During the same period last year, the firm earned ($0.34) earnings per share. Sell-side analysts expect that TG Therapeutics, Inc. will post 0.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TGTX has been the subject of a number of research reports. The Goldman Sachs Group upped their target price on shares of TG Therapeutics from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. HC Wainwright restated a “buy” rating and issued a $49.00 price objective on shares of TG Therapeutics in a research note on Wednesday. Finally, B. Riley lifted their target price 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 equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $31.83.

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.