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

State of New Jersey Common Pension Fund D cut its position in TG Therapeutics, Inc. (NASDAQ:TGTX) by 27.2% during the third quarter, HoldingsChannel reports. The firm owned 82,752 shares of the biopharmaceutical company’s stock after selling 30,931 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in TG Therapeutics were worth $1,936,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Principal Financial Group Inc. increased its position in shares of TG Therapeutics by 1,549.4% in the 3rd quarter. Principal Financial Group Inc. now owns 772,188 shares of the biopharmaceutical company’s stock valued at $18,061,000 after purchasing an additional 725,371 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of TG Therapeutics in the 2nd quarter valued at approximately $8,698,000. Marshall Wace LLP purchased a new stake in shares of TG Therapeutics in the 2nd quarter valued at approximately $36,501,000. Raymond James & Associates increased its position in shares of TG Therapeutics by 35.9% in the 3rd quarter. Raymond James & Associates now owns 170,160 shares of the biopharmaceutical company’s stock valued at $3,980,000 after purchasing an additional 44,972 shares during the last quarter. Finally, New York State Teachers Retirement System purchased a new stake in shares of TG Therapeutics in the 3rd quarter valued at approximately $1,004,000. 58.58% of the stock is owned by hedge funds and other institutional investors.

TG Therapeutics Stock Down 4.2 %

Shares of NASDAQ:TGTX opened at $29.54 on Monday. The stock has a market cap of $4.60 billion, a P/E ratio of -295.40 and a beta of 2.19. The firm has a fifty day moving average price of $24.74 and a 200 day moving average price of $21.16. The company has a debt-to-equity ratio of 1.27, a current ratio of 4.59 and a quick ratio of 3.91. TG Therapeutics, Inc. has a 1-year low of $10.98 and a 1-year high of $36.50.

TG Therapeutics (NASDAQ:TGTX) 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 8.32% 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. Sell-side analysts predict that TG Therapeutics, Inc. will post 0.17 EPS for the current year.

Insider Transactions at TG Therapeutics

In related 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 completion of the sale, the director now owns 100,195 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 10.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TGTX. B. Riley increased their target price on shares of TG Therapeutics from $29.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. The Goldman Sachs Group increased their target price on shares of TG Therapeutics from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. TD Cowen began coverage on shares of TG Therapeutics in a research report on Tuesday, October 29th. They issued a “buy” rating and a $50.00 target price on the stock. Finally, HC Wainwright increased their target price on shares of TG Therapeutics from $49.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.67.

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.