Point72 Asset Management L.P. Takes Position in TG Therapeutics, Inc. (NASDAQ:TGTX)

Point72 Asset Management L.P. bought a new stake in TG Therapeutics, Inc. (NASDAQ:TGTX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 585,873 shares of the biopharmaceutical company’s stock, valued at approximately $10,423,000. Point72 Asset Management L.P. owned 0.38% of TG Therapeutics as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Ashton Thomas Private Wealth LLC purchased a new position in TG Therapeutics during the second quarter valued at $35,000. DekaBank Deutsche Girozentrale purchased a new position in TG Therapeutics during the first quarter valued at approximately $58,000. Lazard Asset Management LLC purchased a new stake in shares of TG Therapeutics during the 1st quarter worth $91,000. nVerses Capital LLC grew its position in shares of TG Therapeutics by 34.9% in the 2nd quarter. nVerses Capital LLC now owns 5,800 shares of the biopharmaceutical company’s stock worth $103,000 after buying an additional 1,500 shares during the last quarter. Finally, Quarry LP grew its stake in TG Therapeutics by 9.1% during the 2nd quarter. Quarry LP now owns 6,003 shares of the biopharmaceutical company’s stock worth $107,000 after buying an additional 503 shares during the last quarter. Hedge funds and other institutional investors own 58.58% of the company’s stock.

TG Therapeutics Trading Down 1.8 %

Shares of TGTX opened at $23.39 on Tuesday. The firm has a 50 day simple moving average of $22.32 and a 200-day simple moving average of $18.65. TG Therapeutics, Inc. has a 1-year low of $6.46 and a 1-year high of $26.41. The stock has a market cap of $3.61 billion, a price-to-earnings ratio of 101.70 and a beta of 2.21. 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 (NASDAQ:TGTX) last released its quarterly earnings data 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. The business had revenue of $73.47 million for the quarter, compared to analyst estimates of $65.92 million. TG Therapeutics had a return on equity of 57.73% and a net margin of 27.60%. The company’s revenue was up 357.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.34) EPS. Equities analysts forecast that TG Therapeutics, Inc. will post 0.13 EPS for the current fiscal year.

Analyst Ratings Changes

TGTX has been the topic of several analyst reports. The Goldman Sachs Group raised their target price on TG Therapeutics from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. B. Riley raised their price objective on TG Therapeutics from $29.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, HC Wainwright restated a “buy” rating and issued a $49.00 price target on shares of TG Therapeutics in a research report on Wednesday, September 18th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $31.83.

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.